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511 Penn St
Reading, PA 19601
Reading Bank and Trust Building · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Redevelopment Opportunity in The Keystone Opportunity Zone
- 40,000 sq ft facility on multiple floors with many development options
EXECUTIVE SUMMARY
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 Home Grant Paying Upto 75% of property acquisition and rehab for housing and other potential programs.
Call Pete Gustis – 610-209-9219
Springer Realty Group – 4844984000
https://www.PhillyMetroCRE.com
This is a 40,000 sq ft Redevelopment Opportunity located in the heart of the Keystone Opportunity Zone in Reading, Pa. !
Opportunity Funds are investment vehicles organized as a corporation, partnership or LLC for the purpose of investing in Opportunity Zones.
Call Pete Gustis – 610-209-9219
Springer Realty Group – 4844984000
https://www.PhillyMetroCRE.com
This is a 40,000 sq ft Redevelopment Opportunity located in the heart of the Keystone Opportunity Zone in Reading, Pa. !
Opportunity Funds are investment vehicles organized as a corporation, partnership or LLC for the purpose of investing in Opportunity Zones.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Building Size
40,000 SF
Building Class
B
Year Built/Renovated
1910/1980
Price
$3,000,000
Price Per SF
$75
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
2.78
Lot Size
0.33 AC
Opportunity Zone
Yes
Zoning
com
Frontage
100’ on Penn Street
AMENITIES
- Atrium
- Skylights
- Storage Space
- Air Conditioning
- Balcony
PROPERTY TAXES
| Parcel Number | 07-5307-83-80-0430 | Improvements Assessment | $69,100 |
| Land Assessment | $38,000 | Total Assessment | $107,100 |
PROPERTY TAXES
Parcel Number
07-5307-83-80-0430
Land Assessment
$38,000
Improvements Assessment
$69,100
Total Assessment
$107,100
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