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Property profile & analytics
FOR LEASE
Outlet malls

3045 North 5Th Street Hwy Reading, PA 19605

107,622 SF 19.15 ac lot Built 1972
Individually Owned 5-yr Hold Absentee Owner Free & Clear
Property ID
US73-4918071
Property summary
AI-generated overview

Penn Plaza Shopping Center in Muhlenberg, PA, offers a prime retail opportunity within a 178,389 square foot strip center. Located on PA Route 222, this high-traffic location boasts approximately 20,000 vehicles per day, ensuring excellent visibility for your business. Three spaces are currently available, ranging from 2,949 to 7,363 square feet, providing flexibility for various retail concepts. The center benefits from a strong existing tenant mix including national brands like Sally Beauty Supply, Dollar Tree, and Premier Rentals. Further enhancing the center's appeal are two upcoming anchor stores: Restaurant Depot (opening late March 2024) and Nova Trampoline Park (opening in 2024). This strategic location is conveniently situated 50 miles northwest of Philadelphia and 27 miles southwest of Allentown, providing access to a large customer base in Berks County. With 18,250 square feet currently vacant, this is an exceptional chance to establish or expand your business in a thriving retail environment. The property's substantial size and prime location offer unparalleled potential for growth and success. This is a unique opportunity to become part of a dynamic and expanding retail destination. Contact us to learn more about the available spaces and leasing options.

Property profile
Verified
Property type Outlet malls
Use group WHOLESALE OUTLET, DISCOUNT STORE
Year built 1972
Total area 107,622 SF
Lot 19.15 ac (834,174 SF)
APN 5308-12-86-2670
UPID US73-4918071
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
  • Jetro Restaurant Depot Grocery & Convenience Store Food Market
  • Restaurant Depot Big Box & Wholesale Store
  • OppShop Discount Store
  • La Eterna Primavera Grocery & Convenience Store Specialty Food Shop
  • Penn Plaza Shopping Center & Mall
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$16.80M
CAP Approach CAP
$16.79M
Comparable Approach Comparable
$10.52M
Blend (final) Blend
$16.80M
Owner & transaction history
MSCI 2006HQ10 NORTH CHANCERY · 2 yrs held
MSCI 2006HQ10 NORTH CHANCERY
since 2024
Last sale
$16.8M
1 recorded transaction
2024
$16.8M
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building $17.8M +182.0%
Warehouse, storage $16.8M +166.0%
Restaurant $14.3M +126.6%
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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