For Sale
$2,200,000

505 Penn St Reading, PA 19601

Prime Reading, PA Office Space

Overview

Added:
Dec 11, 2024
Days on market:
135
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

FAQs

What type of property is this?
Office property - Prime Reading, PA Office Space
Where is the office property located?
The property is located at 505 Penn St Reading, PA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 200+ Amp, 440-Volt electrical service.; ;
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
505 Penn St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message