For Sale
$2,200,000

505 Penn StReading, PA 19601

Prime Reading, PA Office Space

Overview

Added:
Dec 11, 2024
Days on market:
114
This stunning, four-story, 40,000 square foot Class A office building, originally constructed in 1900 and extensively renovated in 1909, is situated on a 0.24-acre lot in the heart of Reading, Pennsylvania's vibrant downtown. The property, boasting a prominent location near the Santander Arena, Performing Arts Center, and Alvernia University College Towne Campus, offers a unique blend of historic charm and modern functionality. Currently operating at 85% occupancy, generating a NOI of $99,034 and a 4.00% cap rate, this mixed-use building presents an exceptional investment opportunity. The asking price is $2,200,000 ($62.86/sq ft). The building features eight on-site parking spaces, plus ample nearby public parking. Zoned C-C, it's adaptable to various uses including traditional, medical, and creative office spaces. The building benefits from a 200+ amp, 440-volt electrical service. This fee-simple ownership opportunity allows for immediate possession and control, making it ideal for both owner-occupants and investors seeking a strong return on investment in a rapidly developing downtown area. The building's history as the Stichter Hardware Building adds to its unique appeal and potential for branding and marketing opportunities. This is a rare chance to acquire a piece of Reading's rich history and participate in its ongoing revitalization.

Highlights

  • 200+ Amp, 440-Volt electrical service.

Property Details for 505 Penn St

Property type
Office properties, Office space
Square Feet
40,000 SF
Class
A
Year Built/Renovated
1900/1909
Buildings
1
Stories
4
Lot Size (sq. ft)
10,454 SF

Location Insight

City
Reading
County
Berks
State
Pennsylvania
Latitude
40.3357241
Longitude
-75.9274075
505 Penn St, Reading, Pennsylvania

FAQs

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505 Penn St
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