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501 Penn Street Reading, PA $ 790,000
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$ 790,000 Get more info
501 Penn Street
$ 790,000
Back to search
Share Save

501 Penn Street

Reading, PA, 19601
$ 790,000
Baths0.0 Sq 10,200

Monthly Estimate*

$ 5,251

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Studio

Commercial Property for sale in Reading, PA

for $790,000. This 10,200 square foot building was built in 1793 on a lot size of 0.07.

Built in the late 1700's, this Historic Building is located at the Center of Reading's Business District. Great visibility, excellent location. The mostly occupied, diverse tenant mix includes 8 units: five retail at street level, three on the upper floors operating as office and service providers. Utilities are separated and each unit has their own HVAC , gas and electric meters. Owner expenses are very manageable. Buy today, collect rent tomorrow! The second and third floors are serviced by an elevator, allowing access to everyone. Regarding residential conversion: the commercial core zoning of this building requires commercial use on the ground level, but allows for residential use on the upper floors (with parking accommodations.) See the attached CC Zoning doc as well as floor plans. Easy to show with preferred 36 hours notice, come on out!

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Commercial Contingent

Price

$ 790,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 9,998

Style

Hair Salon and Spa,Institutional,/General Retail

Lot Size

0.07

Year Built

1793

Town/City

Reading

County/Region

Berks

MLS | Web ID

PABK2026384
Features
Interior
Heating Fuel Natural Gas
Flooring Hardwood Carpet Laminate Plank Partially Carpeted Other
Hot Water Electric
Total Stories 3
Heating Y/N Y
Street Suffix STREET
Central Air Y/N N
Total Restrooms 10
Entry Level 1
Number of Elevators 1
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General
Sewer Public Sewer
Heating Heat Pump - Gas BackUp
Cooling None
Utilities Sewer Available Water Available
Possession 0-30 Days CD 31-60 Days CD 61-90 Days CD 90-120 Days CD 120-180 Days Immediate Negotiable
Roof Flat
Zoning CC
Construction Materials Brick Masonry
Year Built 1793
View City Street
Topography Street corner level lot
Property SubType Five Or More Units
Tax Year 2023
Percent Ownership Fee Simple
Cool Fuel None
Municipality READING CITY
Business Type Other Hair Salon and Spa Institutional Other/General Retail Medical Professional
Accessibility 32 + wide Doors 36 + wide Halls 48 + Halls Elevator
County BERKS
Net Operating Income 85865.00
Operating Expense 26114.00
Insurance Expense 7014.00
New Construction N
Property Type Commercial Sale
Possible Use Recreational Apartments Bar/Tavern/Lounge Barber/Beauty Clothing Commercial Convenience Store Financial Flex Space Food & Beverage Food Market Institutional Investment Medical/Dental Mixed Use Profes
Water Access Y/N N
Status ACTIVE UNDER CONTRACT
Directions Starting at Penn and Perkiomen turn left onto PENN and continue to 5th and PENN. easy parking along Court St
City READING
Buyer Agent Compensation 3
Zoning Description Commercial Core District
Total Units 8
MLS Area Reading City (10201)
Lot Size Square Feet 3049.00
Waterfront Y/N N
Street Name PENN
Tax Annual Amount 9998.0
Property Condition Average Very Good
Price Per Sq Ft 77.45
Acceptable Financing Conventional Cash Negotiable
Historic Y/N Y
Lease Considered Y/N N
Vacation Rental Y/N N
Days on Market 393
Location Type Downtown
Standard Status Active Under Contract
Year Built Source Estimated
Tax Lot 9307
Total Actual Rent 118000.00
Buyer Agent Compensation Type % Of Gross
Association Recreation Fee N
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Exterior
Parking Features Public Unassigned
Lot Features Level Road Frontage Zero Lot Line
Water Source Public
Type of Parking On Street
Foundation Details Block Stone
Water View Y/N N
Building Area Total 10200.00
Lot Dimensions 32*100
Lot Size Acres 0.07
Road Surface Type Paved
Lot Size Units Square Feet
Lot Size Source Assessor
Soil Types Unknown
Road Responsibility City/County
Land Assessed Value 30900.00
Navigable Water Y/N N
Water Oriented Y/N N
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Internal Only
Street Number 1 501
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* Excluded Features
List By
Destination Realty Llc

Broker

destinationrealty.mls.leads@gmail.com

Email

Affordability Calculator

$6,084
Per Month
86%
14%
0%
Monthly Principal & Interest
$5,251
Monthly Property Taxes
$833
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2136830 Elementary School
2137124 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
12/16/2023$790,000 -0.63% Price Down
6/9/2023$795,000 -5.13% Price Down
5/23/2023$838,000 -1.18% Price Down
4/12/2023$848,000 -2.30% Price Down
4/2/2023$868,000 -1.25% Price Down
3/27/2023$879,000 -2.12% Price Down
2/12/2023$898,000 Listed Price

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501 Penn Street, Reading, PA, 19601 is a Commercial Property for sale at $790,000 with 10,200 sqft and a lot size of 0.07. 501 Penn Street is a studio with 0.0 baths and was built in 1793. The property's zip code is 19601 which is in Reading, PA

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