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Property profile & analytics
OFF-MARKET
Estimated value
$2,465,000
Manufacturing properties
951 Morgantown Rd Reading, PA 19607-9518
Entity Owned
2-yr Hold
Free & Clear
Property ID
US73-0576712
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1980
Total area
48,750 SF
Lot
3.1 ac (135,036 SF)
APN
5305-02-89-2847
UPID
US73-0576712
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
-
City of Reading Public Safety Training Center Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.86M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.84M
Blend (final)
Blend
$2.47M
Owner & transaction history
City Of Reading · 2 yrs held
City Of Reading
since 2023
Last sale
$2.5M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$3.1M
+26.5%
Retail stores
$2.9M
+16.3%
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
$2,615,000
ML approach
$2,860,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,465,000
Current use
WAREHOUSE, STORAGE
$3,115,000
Change: +26% · Conversion: Easy
RETAIL STORES
$2,865,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$2.47M
Range $2.22M – $2.71M · ±10% · vs last sale $2.50M (Oct 16 2023)
Last sale anchor
$2.50M
Oct 16 2023
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
$51 / 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
Assessed value
$728,700
Assessed 2024
Previous assessed
$728,700
+0.0% YoY
Assessed land
$73,300
Assessed improvement
$655,400
Land market value
$73,300
Improvement market value
$655,400
Total market value
$728,700
Applied tax rate
39.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1980
Heating
NONE
Stories
1
Total area
48,750 SF
Lot
3.1 ac (135,036 SF)
APN
5305-02-89-2847
UPID
US73-0576712
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
INDUSTRIAL (GENERAL) Current
Est. value
$2.5M
WAREHOUSE, STORAGE
Est. value
$3.1M
RETAIL STORES
Est. value
$2.9M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
RETAIL STORES
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
1980
Heating
NONE
Stories
1
Lot
3.1 ac
Current owner
From public records · entity-resolved
City Of Reading
Entity
Free & Clear · 2 yrs held
Mailing address
815 WASHINGTON ST, READING, PA 19601-3615
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 16, 2023
$2,500,000
City Of Reading
Alvernia University
Deed
—
Oct 17, 2011
$1,800,000
Alvernia University
Brady Nallo LP
Grant Deed
—
Aug 11, 2008
$535,000
Brady Nallo LP
Macsimpson Equities LLP
Deed
$535,000 · Manufacturers & Traders Trust Co
—
—
Macsimpson Equities LLP
—
Deed Of Trust
related
$471,000 · Wachovia Bk/sc
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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