Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    515 Richmond St Reading, PA 19605-3036

    • Retail space
    • 3,200 SF
    • 0.40 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-5695756
    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

    • lancaster / Bakery
    • Nino's Pizza and Italian Restaurant / Pizza Restaurant / Pizza Delivery

    Property Details for 515 Richmond St

    Year built
    1960
    Lot size
    0.40 lot acres
    Property size
    3,200 SF
    Property type
    Retail space
    APN
    5308-20-80-1712
    APU
    530820801712

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.9261
    Latitude
    40.3642
    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
    $4,186
    $87,700
    $70,400
    $158,100
    -
    $87,700
    $70,400
    $158,100

    Comparable in this City

    • Value Estimation
      $875,000
      7,000 SF

      215 Bellevue Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,000 SF
      215 Bellevue Ave, Reading, PA 19605-1729
      View Details
    • Value Estimation by Request
      1,202 SF

      3013 Kutztown Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,202 SF
      3013 Kutztown Rd, Laureldale, PA 19605-2658
      View Details
    • Value Estimation by Request
      2,192 SF

      3639 Pottsville Pike

      RETAIL STORES (PERSONAL SERVICES) • 2,192 SF
      3639 Pottsville Pike, Reading, PA 19605-1719
      View Details
    • Value Estimation by Request
      9,120 SF

      3400 5th St Hwy

      RETAIL STORES (PERSONAL SERVICES) • 9,120 SF
      3400 5th St Hwy, Reading, PA 19605-2429
      View Details
    • Value Estimation by Request
      3,968 SF

      3326 Plz Dr

      RETAIL STORES (PERSONAL SERVICES) • 3,968 SF
      3326 Plz Dr, Reading, PA 19605-2418
      View Details
    • Value Estimation by Request
      4,500 SF

      3201 Pottsville Pike

      RETAIL STORES (PERSONAL SERVICES) • 4,500 SF
      3201 Pottsville Pike, Reading, PA 19605-2575
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space with Ample Parking

      Retail space with dedicated entrance and abundant parking.
      3401 Plaza Dr, Reading, PA 19605
      View Details
    • $675,000
      3,586 SF

      High-Visibility Reading Retail Property

      Dual-income retail & residential investment
      1600 Elizabeth Ave, Reading, PA 19605
      View Details
    • $79,900

      Established Pizza/Sandwich Shop for Sale

      Profitable pizza/sandwich shop with strong delivery sales, business and assets.
      3201 Pottsville Pike, Reading, PA 19605
      View Details
    • $175,000
      1.28 Acres

      High-Traffic Leesport Commercial Land

      Prime Route 61 location, 1.28 acres, C-zoned.
      5220 Pottsville Pike, Leesport, PA 19605
      View Details
    • $1,650,000
      8 SF

      8 Acres Industrial Land Available

      Partially improved industrial land with highway access and NPDES permits.
      Leisczs Bridge Rd, Reading, PA 19605
      View Details
    • $1,500,000
      20,000 SF

      Versatile Flex Space For Sale

      20,000 SF flex space suitable for various uses.
      500 George St, Reading, PA 19605
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,363 SF

      Retail Space Near Business Highway

      Retail property with pad site opportunities near Reading, Pennsylvania.
      3045 North 5Th Street Hwy, Reading, PA 19605
      View Details
    • Contact for pricing
      11,149 SF

      Retail Space in Reading, PA

      Retail space available in a busy shopping center.
      3215 N 5Th Street Hwy, Reading, PA 19605
      View Details
    • Contact for pricing
      63,890 SF

      Versatile Commercial Space in Reading

      Prime location with flexible layout suitable for various businesses.
      2101 Centre Ave, Reading, PA 19605
      View Details
    • Contact for pricing
      99,559 SF

      Reading Mall Anchor Space

      Large Retail Space - High Traffic Area
      3050 5Th Street Hwy, Reading, PA 19605
      View Details
    • Contact for pricing
      52,064 SF

      Plaza 222: Retail Strip Center

      High-traffic Reading retail space; 5 units available
      3229 5Th Street Hwy, Reading, PA 19605
      View Details
    • Contact for pricing

      Industrial Warehouse Space Available

      28,057 SF industrial space with loading docks and drive-in doors.
      600 Corporate Dr, Reading, PA 19605
      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.
    515 Richmond St
    Reading, PA 19605-3036
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.