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505 Penn St
Reading, PA 19601
Stichter Building · Office Property For Sale
Investment Highlights
- Prominent downtown location
- Historic building with turn of the century architectural features
- Located in the Reading CRIZ district
- Updated systems, utilities and finishes. Beautiful and functional!
Executive Summary
**For Sale: Historic Landmark Office Building – 505 Penn St, Reading, PA** Introducing **505 Penn St**, known as the **Stichter Hardware Building**, a landmark in the heart of Reading's downtown area. Rebuilt in **1909**, this beautiful and historic office building, located in the newly formed CRIZ district, is now available for sale, offering a unique opportunity to own a piece of local history. Conveniently located in the center of Reading's growing business district, this property is just steps away from numerous downtown attractions, including the **Santander Arena**, **Performing Arts Center**, **Berks County Services Center**, **Greater Reading Chamber Alliance**, and the **Doubletree Hotel**. Additionally, the **Alvernia University College Towne Campus** is nearby, enhancing the area’s vibrancy and accessibility. The building offers several public parking garages and surface lots in close proximity, and it includes its own surface lot parking spaces as well as a large attached garage, providing ample parking for tenants and visitors. Currently, the property is **nearly 85% occupied**, making it an excellent opportunity for either an owner-occupant looking to establish their business in a historic setting or an investor aiming to expand their portfolio. This is your chance to be part of the revitalization of Reading's downtown.
Visit naikeystone.com for accurate listing info.
Visit naikeystone.com for accurate listing info.
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
28,750 SF
Building Class
C
Year Built/Renovated
1908/2017
Price
$1,900,000
Price Per SF
$66.09
Cap Rate
5.50%
NOI
$104,481
Percent Leased
85%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
7,188 SF
Building FAR
2.75
Lot Size
0.24 AC
Opportunity Zone
Yes
Zoning
CC - CC, Commercial Core: many uses by right, very favorable zoning for businesses from retail restaurant, to office or meeting space.
Parking
10 Spaces (0.35 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
- Basement
- Air Conditioning
Property Taxes
| Parcel Number | 07-5307-83-70-9470 | Improvements Assessment | $512,900 |
| Land Assessment | $117,600 | Total Assessment | $630,500 |
Property Taxes
Parcel Number
07-5307-83-70-9470
Land Assessment
$117,600
Improvements Assessment
$512,900
Total Assessment
$630,500
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