2700 Paper Ml RdSpring Ridge, PA 19610

Property Details for 2700 Paper Ml Rd

Year built

2012

Lot size

10.32 AC

Property size (Sq ft)

92,658 SF

Property type

Retail properties

APN

4397-05-17-6740

APU

439705176740

Description

This exceptional 1-acre property, located at 2700 Paper Mill Rd, Reading, PA 19610, presents a unique investment opportunity. Situated at the intersection of Papermill Road and Meridian Boulevard, this single-tenant medical office building offers excellent visibility and accessibility. The property is currently designated as a Kohl's pad site, ideal for ground lease development. While the building's square footage is currently listed as zero, the substantial 1-acre lot provides ample space for new construction or potential redevelopment tailored to the needs of a medical office tenant. The property's location in Spring Ridge, Reading, PA offers a strong demographic profile and convenient access to major transportation routes. This is a rare chance to acquire a strategically positioned parcel in a thriving area, perfect for a medical practice seeking a prominent location or an investor looking for a high-return ground lease opportunity. The property's zoning and potential uses should be verified independently. The address is officially listed as 2700 Paper Mill Rd, but cross streets are Papermill Road & Meridian Blvd.

• CAP approach

  CAP return

  Valuation

  6%

  $21,023,590

  6.5%

  $19,406,392

  7%

  $18,020,220

• Comparable approach

  Method

  Valuation

  Relative Method

  $17,904,530

  Geo Method

  $30,508,870

• Alternative Use

  Use

  Valuation

  Residential

  $16,370,017

  Hospitality

  $14,994,848

  Educational

  $12,475,537

  Medical

  $12,904,590

  Retail

  $19,406,392

Location Insight

City

Wyomissing

County

Berks

State

Pennsylvania

Latitude

40.3567

Longitude

-75.9855

CBSA code

39740

CBSA name

READING, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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