511 - 515 PENN ST, Reading, PA 19601 – PABK2022164 - Joseph Lam

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Joseph Lam

sales@soldbyturnkey.com +1(856) 305-8329

$3,000,000

Est. payment - /mo

40,000 SqFt

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UPDATED:

10/26/2024 07:57 PM

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 40,000 sqft

Price per Sqft $75

Subdivision None Available

MLS Listing ID PABK2022164

Originating Board BRIGHT

Year Built 1900

Annual Tax Amount $4,682

Tax Year 2022

Lot Size 0.330 Acres

Acres 0.33

Property Description

511 - 515 Penn st Reading Pa 40,000 square foot building in the Central Business District of Reading Pa. Former bank with lots of uses. In the Keystone Opportunity Zone. .33 acres 40,000 square feet of retail /commercial space in the heart of Penn St Reading between 5th & 6th Streets in the heart of the Reading Downtown Improvement District. Formerly Reading Trust stretches from Penn St to Court St with access on both streets. This is in the Penn Square Overlay District with underlying Commercial Core (C-C) district. 3 Story building with large 40 Ft Atrium Ceiling. .33-acre property has a full basement with many vaults. Single or Multiple tenant occupancy. Close to Reading Post Office, Attorney Row, City Hall, County Offices, and The Sovereign Center. New Roof. Multiple elevators, sprinkler system, several parking garages within walking distance. Public transportation on 5th St. Perfect Redevelopment project. Many Grant Opportunities paying for rehab and development with the CRIZ Grant Paying up to 80% of property acquisition and rehab for commercial development and other potential programs. Approximately 30 apartments should be possible with the first floor staying commercial.

Location

State PA

County Berks

Area Reading City (10201)

Zoning C

Interior

Hot Water None

Heating Central

Cooling None

Heat Source Natural Gas

Exterior

Garage Spaces 50.0

Utilities Available Water Available, Sewer Available, Natural Gas Available, Electric Available, Phone, Cable TV Available

Water Access N

View City

Roof Type Flat

Accessibility None

Total Parking Spaces 50

Garage N

Building

Lot Description Interior, Level

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Reading

Others

Tax ID 07-5307-83-80-0430

Ownership Fee Simple

SqFt Source Estimated

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

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Listed by Peter B Gustis • Springer Realty Group

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Joseph Lam

+1(856) 305-8329

Broker Associate | License ID: 0682262

Broker Associate License ID: 0682262