364-416 Blair Ave
34,000 SF 100% Leased Industrial Building Reading, PA 19601 $2,650,000 ($78/SF) 9.68% Cap Rate
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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
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$9.83
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Other Income |
-
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-
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Vacancy Loss |
$16,707
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$0.49
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Effective Gross Income |
$317,433
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$9.34
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Taxes |
$33,836
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$1.00
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Operating Expenses |
$27,115
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$0.80
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Total Expenses |
$60,951
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$1.79
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Net Operating Income |
$256,482
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$7.54
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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.) |