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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3050 5Th Street Hwy Reading, PA 19605

    • Theaters & concert halls
    • 26,475 SF
    • 51.18 lot acres
    For Lease
    View listing
    Last Sale
    Jan 03, 2025
    $775,000
    Value Estimations
    $735,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-4966515
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Wells Fargo Bank / Bank / Atm
    • Ultimate Smile / Dentist
    • AMC Fairgrounds 10 / Movie Theater
    • Applebee's Grill + Bar / Bar & Grill / Diner
    • Planet Fitness / Tanning Salon / Gym

    Property Details for 3050 5Th Street Hwy

    Year built
    1980
    Lot size
    51.18 lot acres
    Property size
    26,475 SF
    Property type
    Theaters & concert halls
    APN
    5308-11-66-7589
    APU
    530811667589

    Description

    This exceptional retail property, located at 3050 N 5th Street Hwy in Reading, Pennsylvania (zip code 19605), presents a significant opportunity for lease or sale. The building, a two-story standalone structure, boasts approximately 99,559 square feet of space, ideal for a single tenant. Its prime location within the Reading retail corridor ensures high visibility and accessibility. The property benefits from ample parking, a crucial element for attracting customers. Its strategic placement adjacent to established businesses such as Boscov's, AMC Theatres, and Planet Fitness further enhances its appeal and potential for success. The building's previous occupant was Burlington, indicating a proven track record of retail viability. This substantial space offers a unique chance to establish a flagship location or expand an existing retail operation in a thriving commercial area. The property is classified as a retail anchor space, signifying its importance and potential influence within the shopping center. Interested parties are encouraged to explore this exceptional opportunity to secure a prominent presence in a high-traffic retail environment. The property's size and location make it an attractive investment for businesses seeking significant retail space in a well-established commercial area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $735,000
      ML approach
      $1,075,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $739,000
      Market price range: $267k - $739k

    • Alternative Use

      Use
      Estimation
      THEATER (MOVIE)
      $485,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.9309
    Latitude
    40.3804
    CBSA code
    39740
    CBSA name
    READING, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $38,752
    $2,023,000
    $736,100
    $2,759,100
    -
    $2,023,000
    $736,100
    $2,759,100

    Comparable in this City

    • Value Estimation
      $275,000
      1,800 SF

      141 Tuckerton Rd

      THEATER (MOVIE) • 1,800 SF
      141 Tuckerton Rd, Laureldale, PA 19605
      View Details
    • Value Estimation
      $535,000
      145,379 SF

      715 Bellevue Ave

      THEATER (MOVIE) • 145,379 SF
      715 Bellevue Ave, Laureldale, PA 19605
      View Details
    • Value Estimation
      $855,000
      32,762 SF

      2385 Bernville Rd

      THEATER (MOVIE) • 32,762 SF
      2385 Bernville Rd, Reading, PA 19605-9400
      View Details
    • Value Estimation
      $380,000
      14,400 SF

      1102 Red Brg Rd

      THEATER (MOVIE) • 14,400 SF
      1102 Red Brg Rd, Reading, PA 19605
      View Details
    • Value Estimation
      $370,000
      19,200 SF

      500 George St

      SKATING RINK, ICE SKATING, ROLLER SKATING • 19,200 SF
      500 George St, Reading, PA 19605-2443
      View Details
    • Value Estimation by Request

      George St

      COMMERCIAL (GENERAL)
      George St, Reading, PA 19605
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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    • $675,000
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      High-Visibility Reading Retail Property

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    Similar Nearby for Lease

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      Industrial Warehouse Space Available

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      MacArthur Road Warehouse

      Prime Berks County Industrial Space
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    • Contact for pricing
      99,559 SF

      Reading Mall Anchor Space

      Large Retail Space - High Traffic Area
      3050 5Th Street Hwy, Reading, PA 19605
      View Details
    • $6 SF/Yr
      6,670 SF

      Warehouse / Light Manufacturing Space

      6,670 +/- Sq. Ft. warehouse with loading docks.
      1114 Commons Blvd, Reading, PA 19605
      View Details
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    Reading, PA 19605
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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