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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6022 Morgantown Rd Morgantown, PA 19543

    • Retail properties
    • 3.43 lot acres
    For Lease
    View listing
    Last Sale
    Feb 04, 2025
    $435,000
    Value Estimations
    $415,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-3736264
    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

    • Retail properties

    Property Details for 6022 Morgantown Rd

    Lot size
    3.43 lot acres
    Property type
    Retail properties
    APN
    5310-02-98-9065
    APU
    531002989065

    Description

    This exceptional 3.43-acre parcel of commercially zoned land presents a remarkable investment opportunity in Morgantown, Pennsylvania. Located at 6022 Morgantown Road, this single-tenant property boasts unparalleled visibility due to its strategic position directly across from the newly constructed Hollywood Casino. The property enjoys high traffic counts, with excellent frontage on Morgantown Road and direct access from the Pennsylvania Turnpike (I-76), which sees 17,150 vehicles per day. Morgantown Road itself experiences 4,516 vehicles daily, ensuring significant exposure for any development. The site's location offers immediate proximity to a range of national retailers, including Starbucks, Walmart, Lowe's, Sheetz, Arby's, and Taco Bell, creating a vibrant and established commercial environment. This property is ideal for developers or retailers seeking a high-traffic location in a rapidly growing market, offering significant potential for a variety of commercial uses. The Berks County location and convenient access to major transportation arteries make this a truly exceptional opportunity. The zoning is commercial, and the lot size is 3.43 acres. This property is ready for immediate development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $415,000
      ML approach
      $370,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Morgantown
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.8892
    Latitude
    40.164
    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
    $900
    $68,400
    $14,700
    $83,100
    -
    $68,400
    $14,700
    $83,100

    Comparable in this City

    • Value Estimation
      $630,000
      4,968 SF

      211 Twin County Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,968 SF
      211 Twin County Rd, Morgantown, PA 19543-9412
      View Details
    • Value Estimation
      $320,000
      4,716 SF

      3830 Main St

      CONVENIENCE STORE • 4,716 SF
      3830 Main St, Morgantown, PA 19543-8858
      View Details
    • Value Estimation
      $190,000
      2,956 SF

      10 Ml Rd

      AUTO REPAIR, GARAGE • 2,956 SF
      10 Ml Rd, Morgantown, PA 19543-7702
      View Details
    • Value Estimation
      $320,000
      4,309 SF

      2838 Main St

      RESTAURANT • 4,309 SF
      2838 Main St, Morgantown, PA 19543-9452
      View Details
    • Value Estimation
      $255,000
      2,976 SF

      3025 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,976 SF
      3025 Main St, Morgantown, PA 19543-7708
      View Details
    • Value Estimation
      $355,000
      4,180 SF

      6296 Morgantown Rd

      FINANCIAL BUILDING • 4,180 SF
      6296 Morgantown Rd, Morgantown, PA 19543
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale Morgantown

      Land available for sale in Morgantown, Pennsylvania.
      5730 Morgantown Rd, Morgantown, PA 19543
      View Details
    • Contact for pricing
      3.43 Acres

      Morgantown Road Commercial Land

      Prime 3.43-acre commercial lot near Hollywood Casino
      6022 Morgantown Rd, Morgantown, PA 19543
      View Details
    • Contact for pricing
      0.58 Acres

      Morgantown Office Suite - 530 SF

      Prime Morgantown location, move-in ready office suite.
      3519 Main St Unit Unit, Morgantown, PA 19543
      View Details
    • Contact for pricing
      0.58 Acres

      Morgantown Office Suite #2A

      Prime Location, 1500 sq ft, Move-In Ready
      3519 Main St Unit Unit, Morgantown, PA 19543
      View Details
    • $270,000
      1,360 SF

      Spacious Townhome with Attic Potential

      Three-bedroom townhome with unfinished attic in Country Meadows.
      102 Country Ln, Morgantown, PA 19543
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,180 SF

      Retail Space in Morgantown, PA

      11,180 SF retail space with drive-thru potential.
      3145 Main St, Morgantown, PA 19543
      View Details
    • $2,500 /Mo
      10,454 SF

      Main Street Retail Building For Lease

      Two-story retail building on Main Street with high visibility.
      3511 Main St, Morgantown, PA 19543
      View Details
    • Contact for pricing
      1 SF

      Morgantown Road Commercial Land

      Prime 3.43-acre commercial lot.
      6022 Morgantown Rd, Morgantown, PA 19543
      View Details
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    Morgantown, PA 19543
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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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