364-416 Blair Ave

34,000 SF 100% Leased Industrial Building Reading, PA 19601 $2,650,000 ($78/SF) 9.68% Cap Rate

EXECUTIVE SUMMARY

364 Blair Avenue offers 2 commercial buildings and 86 storage units, and twelve rented parking spaces on 1.5 acres of land, The office buildings are fully leased with designated parking. The 86 storage units are 97% occupied and the parking spaces are fully leased.

FINANCIAL SUMMARY (ACTUAL - 2023)

ANNUAL ANNUAL PER SF
Gross Rental Income $334,140 $9.83
Other Income - -
Vacancy Loss $16,707 $0.49
Effective Gross Income $317,433 $9.34
Taxes $33,836 $1.00
Operating Expenses $27,115 $0.80
Total Expenses $60,951 $1.79
Net Operating Income $256,482 $7.54

PROPERTY FACTS

Price $2,650,000
Price Per SF $78
Sale Type Investment
Cap Rate 9.68%
Property Type Industrial
Building Class B
Lot Size 1.50 AC
Rentable Building Area 34,000 SF
No. Stories 2
Year Built/Renovated 1980/2000
Parking Ratio 0.59/1,000 SF

AMENITIES

  • 24 Hour Access
  • Storage Space

ZONING

Zoning Code MC (Retail, office, storage, warehouse, day care.)
  • Listing ID: 33686751

  • Date on Market: 10/30/2024

  • Last Updated:

  • Address: 364-416 Blair Ave, Reading, PA 19601