3045 5Th Street HwyReading, PA 19605

Property Details for 3045 5Th Street Hwy

Year built

1972

Lot size

19.15 AC

Property size (Sq ft)

107,622 SF

Property type

Retail properties

Property subtype

Outlet malls

APN

5308-12-86-2670

APU

530812862670

Description

Penn Plaza Shopping Center in Muhlenberg, PA, offers a prime retail opportunity within a 178,389 square foot strip center. Located on PA Route 222, this high-traffic location boasts approximately 20,000 vehicles per day, ensuring excellent visibility for your business. Three spaces are currently available, ranging from 2,949 to 7,363 square feet, providing flexibility for various retail concepts. The center benefits from a strong existing tenant mix including national brands like Sally Beauty Supply, Dollar Tree, and Premier Rentals. Further enhancing the center's appeal are two upcoming anchor stores: Restaurant Depot (opening late March 2024) and Nova Trampoline Park (opening in 2024). This strategic location is conveniently situated 50 miles northwest of Philadelphia and 27 miles southwest of Allentown, providing access to a large customer base in Berks County. With 18,250 square feet currently vacant, this is an exceptional chance to establish or expand your business in a thriving retail environment. The property's substantial size and prime location offer unparalleled potential for growth and success. This is a unique opportunity to become part of a dynamic and expanding retail destination. Contact us to learn more about the available spaces and leasing options.

• CAP approach

  CAP return

  Valuation

  6%

  $24,418,840

  6.5%

  $22,540,468

  7%

  $20,930,434

• Comparable approach

  Method

  Valuation

  Relative Method

  $20,796,060

  Geo Method

  $35,435,964

• Alternative Use

  Use

  Valuation

  Residential

  $19,013,728

  Hospitality

  $17,416,472

  Educational

  $14,490,301

  Medical

  $14,988,644

  Retail

  $22,540,468

Location Insight

City

Reading

County

Berks

State

Pennsylvania

Latitude

40.3804

Longitude

-75.9253

CBSA code

39740

CBSA name

READING, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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