5371 Allentown PikeTemple, PA 19560

  • Office buildings
  • 15,696 SF

Property Details for 5371 Allentown Pike

Year built
1950
Lot size
0.84 AC
Property size (Sq ft)
15,696 SF
Property type
Office buildings
APN
5309-08-99-8966
APU
530908998966

Description

This Temple, PA shopping center presents a compelling value-add investment opportunity. Located on Allentown Pike, this two-building property totals 20,000 square feet, with 18,000 square feet of net rentable space across five units. Currently at 50% occupancy, the property offers significant upside potential due to below-market rents. The property boasts excellent visibility and accessibility, featuring ample parking and signage, situated on a high-traffic corridor with over 25,000 vehicles per day. The property benefits from its strategic location near major retailers such as Walmart, Sam's Club, Target, Giant Foods, Chick-fil-A, and Starbucks. Built in 2008 and renovated that same year, the three-story Class C property sits on a one-acre lot and is zoned for commercial use. The current tenants include a laundromat, nail salon, spa, and a "Nerds Shop". The pro-forma NOI is $193,957, indicating a strong potential for increased profitability through lease adjustments and increased occupancy. This fee-simple ownership opportunity offers a chance to capitalize on the exceptional growth within Berks County, driven by the expansion of distribution centers and healthcare industries. The property's gross lease structure provides a straightforward income stream.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,422,678
    6.5%
    $2,236,318
    7%
    $2,076,581
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,203,562
    Geo Method
    $2,050,839
  • Alternative Use

    Use
    Valuation
    Residential
    $2,773,034
    Hospitality
    $2,540,084
    Educational
    $2,113,320
    Medical
    $2,186,001
    Retail
    $3,287,387

Location Insight

City
Temple
County
Berks
State
Pennsylvania
Latitude
40.4168
Longitude
-75.9184
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
$6,722
$83,900
$394,700
$478,600
-
$83,900
$394,700
$478,600

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