3024 Penn AveReading, PA 19609

Property Details for 3024 Penn Ave

Year built

1971

Lot size

5.54 AC

Property size (Sq ft)

29,232 SF

Property type

Retail properties

Property subtype

Retail space

APN

4386-11-56-5094

APU

438611565094

Description

This single-tenant retail property, located at 3024 Penn Ave in Reading, Pennsylvania (zip code 19609), offers 20,000 square feet of vacant space within a larger 52,560 square foot building. The property sits on a 5.54-acre lot and benefits from a prime location along the busy 422 Highway/Penn Avenue corridor in West Lawn, PA. Built in 1971, this one-story building features an elevator and is zoned PHC (Planned Highway Commercial). The property includes ample parking shared with existing tenants, including a large commercial seafood distributor (Adelphia Sea Food) with a retail counter and a diner (Morning Fuel) operated by Azteca Plaza Restaurant Group. The property's APN is 80-4386-11-56-5094, and it is located in Berks County. This presents a significant opportunity for businesses seeking high visibility and convenient access in a well-established commercial area. Flexible space options are available, ranging from 2,000 to 20,000 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $6,632,580

  6.5%

  $6,122,382

  7%

  $5,685,068

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,648,570

  Geo Method

  $9,625,022

• Alternative Use

  Use

  Valuation

  Residential

  $5,164,458

  Hospitality

  $4,730,616

  Educational

  $3,935,817

  Medical

  $4,071,176

  Retail

  $6,122,382

Location Insight

City

West Lawn

County

Berks

State

Pennsylvania

Latitude

40.3251

Longitude

-76.0082

CBSA code

39740

CBSA name

READING, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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