3401 Plaza DrReading, PA 19605

Property Details for 3401 Plaza Dr

Year built

1989

Lot size

2.39 AC

Property size (Sq ft)

22,344 SF

Property type

Retail space

APN

5308-07-78-1286

APU

530807781286

Description

This exceptional retail property, located at 3401 Plaza Dr in Reading, Pennsylvania, presents a unique investment opportunity. The single-story, 22,356 square foot building, constructed in 1989 and renovated in 2005, currently houses a Pep Boys operation under a long-term ground lease. A significant portion of the building, totaling 14,815 square feet, is currently vacant and available for lease. The existing Pep Boys tenant continues its tire and auto repair operations within the building. The vacant space, ranging from approximately 3,200 to 11,500 square feet, is ideally suited for a variety of uses. Potential tenants could include medical facilities (dialysis or plasma centers), daycare centers (for children or pets), discount retailers, furniture stores, tool and hardware retailers, or automotive-related businesses that do not directly compete with the existing Pep Boys services, such as collision repair centers, auto glass shops, or specialized auto parts retailers. Negotiable cash allowances are available for suitable tenants, contingent upon a rent structure that ensures a fair return on investment for property improvements. The property is situated in Berks County, Pennsylvania, and offers excellent visibility and accessibility within a high-traffic area. This presents a compelling opportunity for investors seeking a strong return in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $5,069,730

  6.5%

  $4,679,752

  7%

  $4,345,484

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,317,585

  Geo Method

  $7,357,057

• Alternative Use

  Use

  Valuation

  Residential

  $3,947,546

  Hospitality

  $3,615,930

  Educational

  $3,008,412

  Medical

  $3,111,876

  Retail

  $4,679,752

Location Insight

City

Reading

County

Berks

State

Pennsylvania

Latitude

40.3849

Longitude

-75.9289

CBSA code

39740

CBSA name

READING, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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