Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    510 Penn St Reading, PA 19602-1012
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    510 Penn St Reading, PA 19602-1012

    View on Map
    • Retail space
    • 31,200 SF
    • 0.32 lot acres
    Off-Market
    Property ID
    US73-2313221
    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
    $995,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • DTLR / (Bike/Boat/Book/etc) Store / Clothing & Fashion Store

    Property Details for 510 Penn St

    Year built
    1900
    Lot size
    0.32 lot acres
    Property size
    31,200 SF
    Property type
    Retail space
    APN
    5307-83-80-0031
    APU
    530783800031

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,050,000
      Market price range: $561k - $1.62M
      AI Estimate
      $1,389,000
      Market price range: $882k - $1.98M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,065,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,575,000
      Change: +48% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,370,000
      Change: +28% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.9272
    Latitude
    40.3348
    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
    $8,040
    $71,500
    $232,200
    $303,700
    -
    $71,500
    $232,200
    $303,700

    Comparable in this City

    • Value Estimation by Request
      4,352 SF

      948 Penn St

      RETAIL STORES (PERSONAL SERVICES) • 4,352 SF
      948 Penn St, Reading, PA 19602-1717
      View Details
    • Value Estimation by Request
      1,598 SF

      433 10th St

      RETAIL STORES (PERSONAL SERVICES) • 1,598 SF
      433 10th St, Reading, PA 19602-2558
      View Details
    • Value Estimation by Request
      2,552 SF

      900 Chestnut St

      RETAIL STORES (PERSONAL SERVICES) • 2,552 SF
      900 Chestnut St, Reading, PA 19602-1958
      View Details
    • Value Estimation by Request
      3,887 SF

      437 11th St

      RETAIL STORES (PERSONAL SERVICES) • 3,887 SF
      437 11th St, Reading, PA 19602-2042
      View Details
    • Value Estimation by Request
      1,567 SF

      609 Bingaman St

      RETAIL STORES (PERSONAL SERVICES) • 1,567 SF
      609 Bingaman St, Reading, PA 19602-2418
      View Details
    • Value Estimation by Request
      4,593 SF

      934 Penn St

      RETAIL STORES (PERSONAL SERVICES) • 4,593 SF
      934 Penn St, Reading, PA 19602-1717
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Versatile Commercial Property in Reading

      Investment opportunity with approved apartments and commercial space.
      317 Franklin St, Reading, PA 19602
      View Details
    • $300,000

      Commercial Property on Perkiomen Avenue

      Well-located commercial property with high visibility and easy access.
      1265 Perkiomen Ave, Reading, PA 19602
      View Details
    • Contact for pricing
      7,244 SF

      Restaurant with Apartments For Sale

      Turn-key restaurant with apartments near Alvernia University expansion.
      19 S 5Th St, Reading, PA 19602
      View Details
    • Contact for pricing
      12,703 SF

      Turn-Key Restaurant & Event Space

      Turn-key pub, restaurant, and event space available immediately.
      531 Canal St, Reading, PA 19602
      View Details
    • $950,000
      93,968 SF

      Canal Street Pub: Turn-Key Opportunity

      Historic Restaurant, Event Space, Liquor License
      535 Canal St, Reading, PA 19602
      View Details
    • $950,000

      Turn-Key Restaurant & Event Space

      Turn-key pub, restaurant, and event space available immediately.
      535 Canal St, Reading, PA 19602
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Versatile Commercial Space on Canal Street

      Multiple spaces available for lease in Reading, PA.
      535 Canal St, Reading, PA 19602
      View Details
    • Contact for pricing

      Downtown Reading Office/Retail Space

      Prime office/retail space in downtown Reading's CRIZ district.
      450 Penn St, Reading, PA 19602
      View Details
    • New
      $2,200 /Mo
      1,742 SF

      Versatile Commercial Space in Reading

      First-floor suite suitable for retail, office, or flex space.
      804 Franklin St, Reading, PA 19602
      View Details
    • $700 /Mo
      16,945 SF

      Renovated Downtown Office Spaces Available

      Varied office spaces in renovated building with on-site parking.
      108 S 5Th St, Reading, PA 19602
      View Details
    • Contact for pricing

      Downtown Reading Office/Retail Building

      Marquis building in downtown Reading with retail/office space.
      450 Penn St, Reading, PA 19602
      View Details
    • $6 SF/Yr
      58,012 SF

      Reading Industrial Building with Docks

      Industrial building with interior docks, levelers, and rich labor pool.
      475 Riverfront Dr, Reading, PA 19602
      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.
    510 Penn St
    Reading, PA 19602-1012
    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!