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

    615 Hiesters Ln Reading, PA 19605

    • Retail space
    • 154,629 SF
    • 2.79 lot acres
    For Lease
    View listing
    $4 SF/Yr
    Last Sale
    Jun 11, 2021
    $2,500,000
    Value Estimations
    $2,840,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2706196
    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 space

    Property Details for 615 Hiesters Ln

    Year built
    1910
    Lot size
    2.79 lot acres
    Property size
    154,629 SF
    Property type
    Retail space
    APN
    5308-20-81-4030
    APU
    530820814030

    Description

    This exceptional industrial property, located at 615 Hiesters Lane in Berks County, offers three distinct warehouse spaces for lease, totaling 171,181 square feet on a 3.5-acre lot. The building, constructed in 1910 and featuring three stories, provides a unique blend of historical character and modern functionality. Spaces range from a minimum of 9,298 square feet to a maximum contiguous space of 96,635 square feet, offering flexibility for various business needs. The property boasts a variety of features including 4 loading docks, 5 drive-in doors, and ample parking for 150 vehicles. Ceiling heights range from 10 to 13 feet. Significant portions of the building are climate-controlled, making it suitable for a range of uses. The property benefits from heavy power and is zoned MC - Manufacturing/Commercial, ideal for fabrication or light manufacturing operations. Its location provides access to a rich labor pool. The property's APN is 5308-20-81-4030 and 5308-20-81-6063. This is a rare opportunity to secure substantial industrial space in a desirable location. Inquire today for lease details and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,440,000
      ML approach
      $2,535,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,049,000
      Market price range: $4.05M - $15.1M

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

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.925
    Latitude
    40.3649
    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
    $30,278
    $161,000
    $982,700
    $1,143,700
    -
    $161,000
    $982,700
    $1,143,700

    Comparable in this City

    • Value Estimation
      $330,000
      7,000 SF

      215 Bellevue Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,000 SF
      215 Bellevue Ave, Reading, PA 19605-1729
      View Details
    • Value Estimation
      $220,000
      1,202 SF

      3013 Kutztown Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,202 SF
      3013 Kutztown Rd, Laureldale, PA 19605-2658
      View Details
    • Value Estimation
      $320,000
      2,192 SF

      3639 Pottsville Pike

      RETAIL STORES (PERSONAL SERVICES) • 2,192 SF
      3639 Pottsville Pike, Reading, PA 19605-1719
      View Details
    • Value Estimation
      $330,000
      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
      $285,000
      3,968 SF

      3326 Plz Dr

      RETAIL STORES (PERSONAL SERVICES) • 3,968 SF
      3326 Plz Dr, Reading, PA 19605-2418
      View Details
    • Value Estimation
      $340,000
      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

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      Retail space with dedicated entrance and abundant parking.
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    • $175,000
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      High-Traffic Leesport Commercial Land

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    • $1,650,000
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      8 Acres Industrial Land Available

      Partially improved industrial land with highway access and NPDES permits.
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      View Details
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      Versatile Flex Space For Sale

      20,000 SF flex space suitable for various uses.
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    Similar Nearby for Lease

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      Prime location with flexible layout suitable for various businesses.
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      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
    • $4 SF/Yr
      171,181 SF

      Hiesters Lane Warehouse Trio

      Three industrial spaces available; 9,298 - 96,635 SF
      615 Hiesters Ln, Reading, PA 19605
      View Details
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    Reading, PA 19605
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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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