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Property profile & analytics

3229 5Th Street Hwy Reading, PA 19605

  • Outlet malls
  • 52,064 SF
  • 6.65 lot acres
For Lease
Last Sale
Apr 10, 2024
$6,850,000
Value Estimations
$7,170,000
Cap Rate Potential
7.7%
Outlet malls
Location Intelligence
Property ID
US73-2696811
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

  • Outlet malls

Property Details for 3229 5Th Street Hwy

Year built
1960
Lot size
6.65 lot acres
Property size
52,064 SF
Property type
Outlet malls
APN
5308-08-88-0014
APU
530808880014

Description

Plaza 222, a prime retail strip center in Reading, Pennsylvania, presents a compelling investment opportunity. This 52,064 square foot property sits on a 6.65-acre lot and enjoys a highly visible location along North 5th Street, a major retail thoroughfare boasting 28,000 vehicles per day. The center's strategic position provides exceptional access to key roadways including Route 422 (81,000 VPD), Route 222 (37,000 VPD), and Route 61 (26,000 VPD), ensuring high visibility and convenient access for customers. Currently, there are five available spaces ranging from 1,300 to 6,000 square feet, catering to a variety of retail needs. In addition, a half-acre pad site is available for lease, offering further expansion potential. The property benefits from its proximity to numerous national retailers, including Target, Giant, Walmart, McDonald's, Five Below, and Michael's, creating a strong retail synergy and attracting significant foot traffic. With 16,300 square feet currently vacant, this presents a unique chance to establish or expand a business within a thriving retail environment. The property's size, location, and existing tenant mix make it an ideal investment for businesses seeking high visibility and strong customer traffic in a well-established retail corridor.


Value Estimations

based on Realmo’s proprietary methodology
  • AI approach

    Method
    Estimation
    Statistic approach
    $6,850,000
    ML approach
    $6,850,000
  • CAP approach

    CAP Return
    Estimation
    6%
    $8,800,000
    6.5%
    $8,120,000
    7%
    $7,540,000
  • Alternative Use

    Use
    Estimation
    MEDICAL BUILDING
    $8,625,000
    WAREHOUSE, STORAGE
    $8,135,000
    RESTAURANT
    $6,930,000
    OFFICE BUILDING
    $5,230,000
    AUTO REPAIR, GARAGE
    $4,905,000

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


Location Insight

  • Map
  • Local Demand
City
Laureldale
County
Berks
State
Pennsylvania
Longitude
-75.9261
Latitude
40.3842
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
$31,164
$1,493,600
$725,300
$2,218,900
-
$1,493,600
$725,300
$2,218,900
More about this property
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