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Property profile & analytics
OFF-MARKET
Estimated value
$43,135,000
Warehouses
615 Aviation Rd Reading, PA 19601-1171
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US73-4896786
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2022
Total area
263,866 SF
Lot
37.61 ac (1,638,292 SF)
APN
4398-12-95-0464
UPID
US73-4896786
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
FedEx Ship Center Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$43.14M
CAP Approach
CAP
$28.76M
Comparable Approach
Comparable
$31.19M
Blend (final)
Blend
$43.14M
Owner & transaction history
Exchangeright Net Leased Portfolio · 2 yrs held
Exchangeright Net Leased Portfolio
since 2024
Last sale
$43.1M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$43.7M
+153.2%
Restaurant
$35.1M
+103.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Reading submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reading submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$43,135,000
ML approach
$43,135,000
CAP Approach
CAP Return
Estimation
6%
$31,160,000
6.5%
$28,760,000
7%
$26,710,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$43,715,000
Change: +153% · Conversion: Difficult
RESTAURANT
$35,125,000
Change: +103% · Conversion: Difficult
Blend value · Realmo final
$43.14M
Range $38.82M – $47.45M · ±10% · vs last sale $43.13M (Jan 22 2024)
Last sale anchor
$43.13M
Jan 22 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$163 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$181,719
Tax year 2024
Assessed value
$14,081,300
Assessed 2024
Previous assessed
$14,081,300
+0.0% YoY
Effective rate
1.29%
On assessed value
Assessed land
$2,522,400
Assessed improvement
$11,558,900
Land market value
$2,522,400
Improvement market value
$11,558,900
Total market value
$14,081,300
Applied tax rate
27.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2022
Total area
263,866 SF
Lot
37.61 ac (1,638,292 SF)
APN
4398-12-95-0464
UPID
US73-4896786
Jurisdiction
BERKS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$43.7M
RESTAURANT
Est. value
$35.1M
MEDICAL BUILDING
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2022
Lot
37.61 ac
Current owner
From public records · entity-resolved
Exchangeright Net Leased Portfolio
Individual
Mailing address
1055 E COLORADO BLVD, PASADENA, CA 91106-2327
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 22, 2024
$43,133,020
Exchangeright Net Leased Portfolio
Aviation Road Reading LLC
Special Warranty Deed
$4,325,000 · Citi Real Estate Funding INC
Feb 7, 2023
—
Aviation Road Reading LLC
—
Deed
related
$1,140,448 · First Commonwealth Bank
Nov 30, 2021
$5,500,000
Aviation Road Reading LLC
Berks County Industrial Dev Authori
Deed
$33,040,000 · First Commonwealth Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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