For Sale
$1,875,000

1020 James Dr Leesport, PA 19533

High-return, multi-tenant office complex

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional investment opportunity presents a fully occupied, two-building, Class A office complex in Leesport, PA. The 14,300 square foot property, built in 2000 and renovated in 2020, features four tenants across two single-story buildings on a 2 square foot lot. Currently operating at 100% occupancy with a stabilized investment profile, the property boasts a strong NOI of $143,500 and a 7.65% cap rate, with an asking price of $1,875,000 ($131.12/sq ft). All tenants are on gross leases and have recently renewed their leases for an additional three years. The property benefits from its strategic location, just two miles west of the Reading Airport and five miles from Reading Hospital, offering excellent visibility and accessibility off Route 222. Significant value-add potential exists through market rent adjustments, given that current rental rates have remained stagnant for 5-10 years. This presents a rare opportunity to acquire a generational asset in a thriving market with minimal management burden. The property's strong operational history, coupled with the robust demand for office space in the Reading area, makes this an ideal investment for those seeking a stable, high-return asset with immediate upside potential. The property is professionally managed.

Highlights

  • Four-tenant, two-building office investment in Reading, PA, on Bernville Road (23,377 VPD).
  • Tenants have recently renewed leases for three additional years.
  • Significant below-market rents offer immediate value-add potential.
  • Professionally managed, minimizing owner maintenance responsibilities.
  • Convenient location, two miles from Reading Hospital and downtown Reading.

Property Details for 1020 James Dr

Property type
Office properties
Square Feet
14,300 SF
Class
A
Year Built/Renovated
2000/2020
Buildings
2
Stories
1
Units
4

Location Insight

City
Leesport
County
Berks
State
Pennsylvania
Latitude
40.3913643
Longitude
-75.9976292

FAQs

What type of property is this?
Office property - High-return, multi-tenant office complex
Where is the office property located?
The property is located at 1020 James Dr Leesport, PA.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Four-tenant, two-building office investment in Reading, PA, on Bernville Road (23,377 VPD).; Tenants have recently renewed leases for three additional years.; Significant below-market rents offer immediate value-add potential.
How can I contact the broker?
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1020 James Dr
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