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1128 Pike St

$560,000

1128 Pike St, Reading, PA 19604

Active
Last Updated: 10/01/2025

9.3

Cap Rate

52,343.89

NOI

Details:
Cap Rate:    9.3%
NOI:    $52,343.89
Building Size:    8,000 sqft
Year Built:    1941
Price Per Sqft:    $70
Zoning:    R-3
Highlights:
  • Days on Market: 66
  • Heating: Forced Air
Description:

Prime value-add opportunity at 1128 Pike Street, Reading, PA. This property includes 34 self-storage units plus an income-producing commercial space, supported by electric, water, and sewer utilities. The layout is highly functional and maintains high occupancy with long-term tenants, ensuring stability and consistent performance.

Current income is $63,791 with a net operating income (NOI) of $52,343.89, yielding a strong 9.3% CAP rate. Pro forma projections show the potential to increase income to $71,520 and NOI to $60,712, boosting the CAP rate to 10.1% through improved lease rates and operational optimization.

This asset is part of a larger portfolio of over 500 storage units currently available in Reading, offering flexibility and scalability for investors focused on storage performance and market consolidation.

Additional properties in the portfolio include:
826 Hampden – 17 units
824 Ritter – 13 units
511 Birch – 10 units
340 Locust – 18 units
333 Lombard – 34 units
1536 Haak – 36 units
625 N. 13th – 22 units
1128 Pike – 34 units
1200 N 9th Street – 66 units
306 N 13th Street – 1 unit
1541 Fairview – 8 units
635-R Weiser – 1 unit
521 S 16th Street – 10 units
328 Chestnut – 8 units
1214 Weimer – 10 units
741 Church – 12 units
330 Robeson - 1015 Rose – 96 units
364 Blair – 86 units

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