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Property profile & analytics
OFF-MARKET
Estimated value
$2,430,000
Retail space
3024 Penn Ave West Lawn, PA 19609-1444
Individually Owned
9-yr Hold
~
Est. High Equity
Property ID
US73-2141797
Property summary
AI-generated overview
This single-tenant retail property, located at 3024 Penn Ave in Reading, Pennsylvania (zip code 19609), offers 20,000 square feet of vacant space within a larger 52,560 square foot building. The property sits on a 5.54-acre lot and benefits from a prime location along the busy 422 Highway/Penn Avenue corridor in West Lawn, PA. Built in 1971, this one-story building features an elevator and is zoned PHC (Planned Highway Commercial). The property includes ample parking shared with existing tenants, including a large commercial seafood distributor (Adelphia Sea Food) with a retail counter and a diner (Morning Fuel) operated by Azteca Plaza Restaurant Group. The property's APN is 80-4386-11-56-5094, and it is located in Berks County. This presents a significant opportunity for businesses seeking high visibility and convenient access in a well-established commercial area. Flexible space options are available, ranging from 2,000 to 20,000 square feet.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1971
Total area
29,232 SF
Lot
5.54 ac (241,322 SF)
APN
4386-11-56-5094
UPID
US73-2141797
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
-
Sprecher's Meats Take-out & Catering Butcher
-
Westlawn Program Bingo Bingo Hall
-
Ageless Harmony Senior Adult Adult Day Care
-
Adelphia Seafood Co Specialty Food Shop Fish Market
-
Air Products Healthcare Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.95M
Blend (final)
Blend
$2.43M
Owner & transaction history
Jason W Hurleman · 9 yrs held
Jason W Hurleman
since 2017
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.9M
+126.6%
Office building
$2.9M
+71.1%
Auto repair, garage
$2.8M
+60.3%
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 West Lawn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Lawn 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,715,000
Current use
RESTAURANT
$3,890,000
Change: +127% · Conversion: Easy
OFFICE BUILDING
$2,940,000
Change: +71% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,755,000
Change: +60% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,930,000
Change: +12% · Conversion: Easy
WAREHOUSE, STORAGE
$1,870,000
Change: +9% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,475,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$2.43M
Range $2.19M – $2.67M · ±10%
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
$83 / 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
$25,834
Tax year 2024
Assessed value
$1,908,800
Assessed 2024
Previous assessed
$1,908,800
+0.0% YoY
Effective rate
1.35%
On assessed value
Assessed land
$729,800
Assessed improvement
$1,179,000
Land market value
$729,800
Improvement market value
$1,179,000
Total market value
$1,908,800
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1971
Heating
NONE
Buildings
4
Stories
1
Total area
29,232 SF
Lot
5.54 ac (241,322 SF)
APN
4386-11-56-5094
UPID
US73-2141797
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
RETAIL STORES Current
Est. value
$1.7M
RESTAURANT
Est. value
$3.9M
OFFICE BUILDING
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.9M
INDUSTRIAL (GENERAL)
Est. value
$1.5M
RETAIL STORES Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
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
1971
Heating
NONE
Stories
1
Buildings
4
Lot
5.54 ac
Current owner
From public records · entity-resolved
Jason W Hurleman
Individual
Mailing address
3024 PENN AVE, WEST LAWN, PA 19609-1444
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2017
—
Jason W Hurleman
Hurleman,walter A
Quit Claim Deed
related
—
Dec 12, 2012
—
Reading Knights INC
—
Deed Of Trust
related
$1,100,000 · Parke Bank
Jul 23, 2007
—
Hurleman,jason W
Hurleman,walter A
Quit Claim Deed
related
$5,700,000 · Fulton Bank
Jun 6, 2005
—
Revere Restaurant Group INC
—
Deed Of Trust
related
$1,580,000 · Wachovia Bank NA
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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