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    385 Reading Rd Ephrata, PA 17522
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    385 Reading Rd Ephrata, PA 17522

    View on Map
    • Community centers
    • 54,298 SF
    • 5.00 lot acres
    Off-Market
    Last Sale Dec 17, 2025
    $6,200,000
    Property ID
    US73-0749580
    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
    $6,145,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Chimneys Cleaning & Inspection Service_Ephrata QWA / General Contractor / Renovation Specialist
    • Bradley's Big Buy / Grocery & Convenience Store / Food Market
    • Ephrata Commons / Shopping Center & Mall

    Property Details for 385 Reading Rd

    Year built
    1987
    Construction
    FRAME
    Lot size
    5.00 lot acres
    Property size
    54,298 SF
    Zone code
    HC
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    260-87785-0-0000
    APU
    2608778500000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $7,085,000
      RESTAURANT
      $5,835,000
      COMMERCIAL (GENERAL)
      $5,585,000
      APARTMENT HOUSE (5+ UNITS)
      $4,550,000
      AUTO REPAIR, GARAGE
      $4,045,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Ephrata
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.1736
    Latitude
    40.193
    CBSA code
    29540
    CBSA name
    LANCASTER, 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
    $94,303
    $625,000
    $3,307,400
    $3,932,400
    -
    $625,000
    $3,307,400
    $3,932,400

    Comparable in this City

    • Value Estimation
      $6,680,000
      59,960 SF

      95 Reading Rd

      MINI-MALL • 59,960 SF
      95 Reading Rd, Ephrata, PA 17522
      View Details
    • Value Estimation
      $620,000
      19,600 SF

      830 Main St

      MINI-MALL • 19,600 SF
      830 Main St, Ephrata, PA 17522-1682
      View Details
    • Value Estimation by Request

      108 Reading Rd

      Neighborhood centers
      108 Reading Rd, Ephrata, PA 17522
      View Details
    • Value Estimation by Request
      83,488 SF

      Main St & Pleasant Vly Rd

      Neighborhood centers • 83,488 SF
      0 Main St & Pleasant Vly Rd, Ephrata, PA 17522
      View Details
    • Value Estimation
      $2,065,000
      85,104 SF

      850 Main St

      SHOPPING CENTER, STRIP CENTER • 85,104 SF
      850 Main St, Ephrata, PA 17522-2562
      View Details
    • Value Estimation
      $1,815,000
      11,319 SF

      19 Main St

      WHOLESALE OUTLET, DISCOUNT STORE • 11,319 SF
      19 Main St, Ephrata, PA 17522-2790
      View Details

    Similar Nearby for Sale

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      Ephrata Mixed-Use Commercial Building

      Value-add opportunity in a high-visibility location near major landmarks.
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      Prime Retail Space, High Traffic Area, Value-Add Opportunity
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      Redone Brick Building in Ephrata

      Two-story brick building with rental income potential in high-traffic location.
      875 E Main St, Ephrata, PA 17522
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      Ephrata Retail Center - Prime Location

      High-traffic retail space, 38,000 SF, NNN lease.
      1717 Main St, Ephrata, PA 17522
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    • Contact for pricing
      0.23 Acres

      Ephrata Retail Space - High Traffic Area

      Prime Retail Location, Mixed-Use Zoning, High Visibility
      865 Main St, Ephrata, PA 17522
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    Similar Nearby for Lease

    • Contact for pricing

      New Retail Center in Ephrata

      New retail shopping center with national tenants and available space.
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      View Details
    • Contact for pricing
      6,000 SF

      Retail Space in Sharp Plaza

      Anchored retail shopping center centrally located in Ephrata, Pennsylvania.
      1041 Sharp Ave, Ephrata, PA 17522
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      New Retail Shopping Center Space

      New construction retail shopping center with available space for lease.
      1759 W Main St, Ephrata, PA 17522
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    • Contact for pricing
      2,122 SF

      Restaurant Space at Cloister Center

      Second-generation restaurant space available for lease in shopping center.
      100 N Reading Rd, Ephrata, PA 17522
      View Details
    • $6,500 /Mo

      Ephrata Restaurant with Drive-Thru

      Former KFC restaurant with drive-thru, full kitchen, and dining.
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      View Details
    • Contact for pricing
      1,500 SF

      Ephrata Township Commercial Space

      Located off Route 222, suitable for diverse business ventures.
      865 E Main St, Ephrata, PA 17522
      View Details
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    385 Reading Rd
    Ephrata, PA 17522
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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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