Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    509 3rd St Reading, PA 19601-2814
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    509 3rd St Reading, PA 19601-2814

    View on Map
    • Warehouses
    • 3,268 SF
    • 0.14 lot acres
    Off-Market
    Property ID
    US73-0977807
    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

    • Warehouses

    Property Details for 509 3rd St

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.14 lot acres
    Property size
    3,268 SF
    Property type
    Warehouses
    APN
    5307-66-63-8143
    APU
    530766638143

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.9312
    Latitude
    40.3434
    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
    $413
    $8,400
    $7,200
    $15,600
    -
    $8,400
    $7,200
    $15,600

    Comparable in this City

    • Value Estimation by Request
      2,064 SF

      635 Weiser Str

      WAREHOUSE, STORAGE • 2,064 SF
      635 Weiser Str, Reading, PA 19601-2419
      View Details
    • Value Estimation by Request
      1,792 SF

      421 Woodward Str

      WAREHOUSE, STORAGE • 1,792 SF
      421 Woodward Str, Reading, PA 19601-2866
      View Details
    • Value Estimation by Request
      2,656 SF

      42 Moss St

      MINI-WAREHOUSE, STORAGE • 2,656 SF
      42 Moss St, Reading, PA 19601
      View Details
    • Value Estimation
      $595,000
      28,000 SF

      1400 Frnt St

      WAREHOUSE, STORAGE • 28,000 SF
      1400 Frnt St, Reading, PA 19601
      View Details
    • Value Estimation by Request
      16,512 SF

      707 Molino St

      WAREHOUSE, STORAGE • 16,512 SF
      707 Molino St, Reading, PA 19601
      View Details
    • Value Estimation by Request
      3,174 SF

      830th Gordon St

      WAREHOUSE, STORAGE • 3,174 SF
      830th Gordon St, Reading, PA 19601-2314
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,500 SF

      Auto Repair Shop with Warehouse

      Auto repair shop with warehouse space at signalized intersection.
      349 Buttonwood St, Reading, PA 19601
      View Details
    • Contact for pricing
      10,124 SF

      Historic Office Building For Sale

      Professional office building near courthouse and downtown area.
      540 Court St, Reading, PA 19601
      View Details
    • Contact for pricing
      20,700 SF

      Elm View Apartments: 32 Units

      Four-story brick building with 32 residential units and on-site parking.
      350 Elm St, Reading, PA 19601
      View Details
    • $445,000
      0.11 Acres

      Renovated Office Building in Reading

      Well-maintained, renovated office building in Reading's Revitalization Zone.
      540 Court St, Reading, PA 19601
      View Details
    • $450,000

      Restaurant, Pub, and Apartments

      Turn-key restaurant, pub with apartments in downtown Reading.
      19-21 South 5Th St, Reading, PA 19601
      View Details
    • $650,000
      0.05 Acres

      Mixed-Use Property with Expansion Potential

      Well-maintained mixed-use property with commercial storefront and residential units.
      226 N 10Th St, Reading, PA 19601
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,492 SF

      Wyomissing Office Space Available

      Centrally located office space with highway access in Wyomissing.
      4 N 6Th St, Wyomissing, PA 19601
      View Details
    • Contact for pricing
      4,800 SF

      Dominant Retail Space in Reading

      High-traffic retail space in Pennsylvania's top shopping center.
      2801 Paper Mill Rd, Reading, PA 19601
      View Details
    • Contact for pricing

      Class A Office Space Available

      Prime downtown Reading office space with flexible configurations.
      600 Penn St, Reading, PA 19601
      View Details
    • Contact for pricing

      Downtown Reading Office Space Available

      Office suites available in downtown Reading, near Berks County Courts.
      606 Court St, Reading, PA 19601
      View Details
    • $16 SF/Yr

      Class A Office Space

      Prime downtown Reading location with flexible office configurations.
      600 Penn St, Reading, PA 19601
      View Details
    • Contact for pricing

      Downtown Reading Office/Retail Space

      Class A office/retail building in the heart of Downtown Reading.
      601 Penn St, Reading, PA 19601
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    509 3rd St
    Reading, PA 19601-2814
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!