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Property profile & analytics
OFF-MARKET
Estimated value
$1,280,000
Office buildings
3 Cloister Ct Reading, PA 19608-1783
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US73-0573064
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1965
Total area
7,867 SF
Lot
2.95 ac (128,502 SF)
APN
4396-17-00-6841
UPID
US73-0573064
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
The Morgan School Spring High School Daycare Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.42M
CAP Approach
CAP
$1.08M
Comparable Approach
Comparable
$951k
Blend (final)
Blend
$1.28M
Owner & transaction history
The Morgan School Real Estate II Ll · 2 yrs held
The Morgan School Real Estate II Ll
since 2023
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.3M
+64.9%
Restaurant
$1.0M
+32.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Reading submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reading submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,340,000
ML approach
$1,420,000
CAP Approach
CAP Return
Estimation
6%
$1,170,000
6.5%
$1,080,000
7%
$1,005,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$790,000
Current use
MEDICAL BUILDING
$1,305,000
Change: +65% · Conversion: Easy
RESTAURANT
$1,045,000
Change: +32% · Conversion: Moderate
Blend value · Realmo final
$1.28M
Range $1.15M – $1.41M · ±10% · vs last sale $1.28M (Nov 1 2023)
Last sale anchor
$1.28M
Nov 1 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$163 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$7,485
Tax year 2024
Assessed value
$550,400
Assessed 2024
Previous assessed
$550,400
+0.0% YoY
Effective rate
1.36%
On assessed value
Assessed land
$195,500
Assessed improvement
$354,900
Land market value
$195,500
Improvement market value
$354,900
Total market value
$550,400
Applied tax rate
80.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1965
Heating
NONE
Stories
1
Total area
7,867 SF
Lot
2.95 ac (128,502 SF)
APN
4396-17-00-6841
UPID
US73-0573064
Jurisdiction
BERKS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$790,000
MEDICAL BUILDING
Est. value
$1.3M
RESTAURANT
Est. value
$1.0M
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1965
Heating
NONE
Stories
1
Lot
2.95 ac
Current owner
From public records · entity-resolved
The Morgan School Real Estate II Ll
Individual
Mailing address
6120 PERKIOMEN AVE, READING, PA 19606
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2023
$1,280,000
The Morgan School Real Estate II Ll
Greystone Partnership LP
Deed
$2,304,000 · Tompkins Trust Co
Jan 7, 2004
$30,000
Greystone Ptshp
Springside Manor
Quit Claim Deed
related
—
Dec 11, 2001
$300,000
Greystone Ptshp LP
Gottschall,edward L & Ruth A
Grant Deed
$300,000 · Charles F Rohrer
May 8, 2000
$625,000
Greystone Ptshp
Majestic Copper Corp
Grant Deed
$965,000 · Main Street Bk
—
—
Greystone Ptshp
—
Deed Of Trust
related
$110,000 · Lon L Seitz
—
—
Greystone Ptshp LP
—
Deed Of Trust
related
$195,000 · Main Street Bk
—
—
Greystone Partnership
—
Deed Of Trust
related
$50,000 · Patriot Bk/s Tipton
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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