Property profile

305 Park Rd Reading, PA 19610

OFF-MARKET
Turn key restaurants
Property ID
US73-2921021
6,380 SF 2.45 ac lot Built 1993
Entity Owned 13-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

The property is a 1.20-acre commercial land parcel that is described as a fully improved site with a nearly full macadam (paved/asphalt) surface. It is zoned C-2 for retail commercial use. The site is located in front of a large existing development area totaling approximately 255,000 square feet, which includes the Teleflex R&D Medical Facility, and is also positioned near a planned or newly established 200,000-square-foot Drexel Medical School.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1993
Construction FRAME
Total area 6,380 SF
Lot 2.45 ac (106,722 SF)
APN 5307-17-01-3386
UPID US73-2921021

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant

Location

305 Park Rd Reading, PA 19610-2915
Reading metro Census 11101 READING, PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history

since 2013
Last sale
$3.5M
6 recorded transactions
2013
Price N/A
2013
$875,000
2012
$5,800
2006
$2.8M
1969
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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