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Property profile & analytics
OFF-MARKET Estimated value $1,880,000
Retail space

3401 Plz Dr Reading, PA 19605-2456

22,344 SF 2.39 ac lot Built 1989
Entity Owned 18-yr Hold Free & Clear
Property ID
US73-2218327
Property summary
AI-generated overview

This exceptional retail property, located at 3401 Plaza Dr in Reading, Pennsylvania, presents a unique investment opportunity. The single-story, 22,356 square foot building, constructed in 1989 and renovated in 2005, currently houses a Pep Boys operation under a long-term ground lease. A significant portion of the building, totaling 14,815 square feet, is currently vacant and available for lease. The existing Pep Boys tenant continues its tire and auto repair operations within the building. The vacant space, ranging from approximately 3,200 to 11,500 square feet, is ideally suited for a variety of uses. Potential tenants could include medical facilities (dialysis or plasma centers), daycare centers (for children or pets), discount retailers, furniture stores, tool and hardware retailers, or automotive-related businesses that do not directly compete with the existing Pep Boys services, such as collision repair centers, auto glass shops, or specialized auto parts retailers. Negotiable cash allowances are available for suitable tenants, contingent upon a rent structure that ensures a fair return on investment for property improvements. The property is situated in Berks County, Pennsylvania, and offers excellent visibility and accessibility within a high-traffic area. This presents a compelling opportunity for investors seeking a strong return in a desirable location.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1989
Total area 22,344 SF
Lot 2.39 ac (104,108 SF)
APN 5308-07-78-1286
UPID US73-2218327
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
  • Pep Boys (Bike/Boat/Book/etc) Store Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.49M
Blend (final) Blend
$1.88M
Owner & transaction history
Nnn Acquisitions INC · 18 yrs held
Nnn Acquisitions INC
since 2007
2 recorded transactions
2007
$4.5M
2006
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $3.0M +126.6%
Office building $2.2M +71.1%
Auto repair, garage $2.1M +60.3%
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