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    3215 N 5Th Street Hwy Reading, PA 19605
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    Property profile & analytics

    3215 N 5Th Street Hwy, Reading, PA 19605

    View on Map
    • Outlet malls
    • 75,652 SF
    • 14.13 lot acres
    For Lease
    $9,435,000
    View Listing →
    Retail Space in Reading, PA For Lease
    $9,435,000
    11,149 SF

    Retail Space in Reading, PA

    Retail space available in a busy shopping center.

    3215 N 5th St Hwy, Reading, PA
    View Listing
    Property ID
    US73-1800464
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mavis Discount Tire / (Bike/Boat/Book/etc) Store / Auto Parts Store
    • Larry Cinicola / Physician
    • Craig Flannery / Physician
    • FedEx Drop Box / Postal Service / Courier Service
    • higi / Physician

    Property Details for 3215 N 5Th Street Hwy

    Year built
    1975
    Lot size
    14.13 lot acres
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    5308-12-87-0341
    APU
    530812870341

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $12,785,000
      6.5%
      $11,800,000
      7%
      $10,960,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,310,000
      Market price range: $1.98M - $7.40M
      AI Estimate
      $9,190,000
      Market price range: $2.38M - $9.19M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $12,535,000
      WAREHOUSE, STORAGE
      $11,820,000
      RESTAURANT
      $10,070,000
      OFFICE BUILDING
      $7,600,000
      AUTO REPAIR, GARAGE
      $7,125,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.9259
    Latitude
    40.3823
    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
    $81,682
    $2,823,200
    $2,992,500
    $5,815,700
    -
    $2,823,200
    $2,992,500
    $5,815,700

    Comparable in this City

    • Value Estimation
      $1,805,000
      19,040 SF

      3420 5th St Hwy

      WHOLESALE OUTLET, DISCOUNT STORE
      3420 5th St Hwy, Reading, PA 19605-2429
      View Details
    • Value Estimation
      $4,205,000
      125,263 SF

      422 Madison Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      422 Madison Ave, Reading, PA 19605
      View Details
    • Value Estimation
      $16,800,000
      107,622 SF

      3045 5th St Hwy

      WHOLESALE OUTLET, DISCOUNT STORE
      3045 5th St Hwy, Reading, PA 19605-2563
      View Details
    • Value Estimation
      $3,180,000
      25,408 SF

      3417 5th St Hwy

      WHOLESALE OUTLET, DISCOUNT STORE
      3417 5th St Hwy, Reading, PA 19605-2428
      View Details
    • Value Estimation
      $6,850,000
      52,064 SF

      3229 5th St Hwy

      WHOLESALE OUTLET, DISCOUNT STORE
      3229 5th St Hwy, Laureldale, PA 19605
      View Details
    • Value Estimation
      $2,095,000
      50,395 SF

      2934 5th St Hwy

      WHOLESALE OUTLET, DISCOUNT STORE
      2934 5th St Hwy, Reading, PA 19605-2461
      View Details

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      20,000 SF

      Versatile Flex Space For Sale

      20,000 SF flex space suitable for various uses.
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    Similar Nearby for Lease

    • Contact for pricing
      11,149 SF

      Retail Space in Reading, PA

      Retail space available in a busy shopping center.
      3215 N 5Th Street Hwy, Reading, PA 19605
      View Details
    • Contact for pricing
      7,363 SF

      Retail Space Near Business Highway

      Retail property with pad site opportunities near Reading, Pennsylvania.
      3045 North 5Th Street Hwy, Reading, PA 19605
      View Details
    • Contact for pricing

      Laureldale Pad Site Available

      Pad site ideal for fast food, coffee, or bank.
      3500 Kutztown Rd, Laureldale, PA 19605
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      Former Burlington Retail Space Available

      Two-story, 100,000 SF retail building in Reading, PA.
      3050 N 5Th Street Hwy, Reading, PA 19605
      View Details
    • Contact for pricing

      Prime Retail Space in Reading

      Versatile commercial space for lease in a strategic Reading location.
      2101 Centre Ave, Reading, PA 19605
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      Retail Space in Reading Plaza

      Retail space for lease in central Reading location.
      3229 N 5Th Street Hwy, Reading, PA 19605
      View Details
    View Listing
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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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