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MLS# PABK2022164

Status: ACTIVE
511 - 515 PENN ST
READING, PA 19601
$3000000.00

Commercial Sale
Year Built: 1900
Sq Ft: 40000.00
Building Area: 40000.00
Acres: 0.33
Contact:
Peter Gustis
Springer Realty Group
Phone:   4844984000
Photos
Map
511 - 515 Penn st Reading Pa 40,000 square foot building in the Central Business District of Reading Pa. Former bank with lots of uses. In the Keystone Opportunity Zone. .33 acres 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 CRIZ Grant Paying up to 80% of property acquisition and rehab for commercial development and other potential programs. Approximately 30 apartments should be possible with the first floor staying commercial.

Additional Features

Location Type: Downtown
Property Condition: Average
School District Name: READING
Directions: on left side of Penn st. The Reading Bank and Trust Building also has an Entrance on Court St.
Subdivision Name: NONE AVAILABLE
MLS Area: Reading City (10201)
Lot Features: Interior,Level
Tax ID Number: 07-5307-83-80-0430
Zoning: C
Land Use Code: 4240
Ownership Interest: Fee Simple
Hot Water: None
Roof: Flat
Heating Type: Central
Construction Materials: Stone,Masonry
Cooling Type: None
Sewer Septic: Public Sewer
Utilities: Water Available,Sewer Available,Natural Gas Available,Electric Available,Phone,Cable TV Available
Water Source: Public
Listing Entry Date: September 28, 2022
Tax Annual Amount: 4682.00
Tax Assessed Value: 107100.00
Tax Year: 2022
Price Per SQFT: 75.00