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$3,000,000
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Property Description
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.
Full Property Details
Full Property Details for 511 - 515 Penn St
General
- Price: $3,000,000
- Taxes: $4,682 (2022)
- Status: Active
- Type: Warehouse
- Source: BrightMLSPhilly
- MLS ID: PABK2022164
- Updated: 12/27/2024
- Added to Site: 875 day(s) ago
Business
- Business Type: Apartment Building, Banquet Facility/Lodge, Big Box
Rooms
Bathrooms
- Restrooms: 6
Parking
- Total Spaces: 50
- Parking Type: On Street
Location
- Area: Reading City (10201)
- Municipality: READING CITY
- County: Berks
- Development Name: None Available
- Subdivision: None Available
- Building Name: PENN STREET BANK BLDG.
- Cross Streets: 5Th St
- Driving Directions: on left side of Penn st. The Reading Bank and Trust Building also has an Entrance on Court St.
- Location Details: Downtown
Heating & Cooling
- Cooling Type: None
- Cooling Fuel: Electric
- Heating Type: Central
- Heating Fuel: Natural Gas
- Water Heater: None
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Water Available, Sewer Available, Natural Gas Available, Electric Available, Phone, Cable TV Available
Structural Information
- Construction: Stone, Masonry
- Roof: Flat
- Ceiling Height: Over 24'
- Stories/Levels: 0
- Year Built: 1900
- Year Built Source: Estimated
- Property Condition: Average
Unit Information
- # Tenants: Multiple
Lot Features
- Property View: City
- Lot Size (Acres): 0.33
- Lot Size (Sq. Ft.): 14,374
- Lot Size Source: Estimated
- Frontage Feet: 100
- Lot Features: Interior, Level
- Zoning: C
- Lot Description: Interior, Level
Financial Considerations
- Price Per Sq. Ft.: $75
- Assessment Year: 2022
- School Tax: $1,920
- City/TownTax: $1,942
- City/TownTax Freq: Annually
- County Tax: $820
- County Tax Freq: Annually
- Tax w/Assessment: $107,100
- Tax Amount: $4,682
- Tax Year: 2022
Disclosures and Reports
- Ownership: Fee Simple
- Investment: Yes
- Lot Number: 430
Listed by Springer Realty Group, Peter B Gustis
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Schools
Schools serving 511 - 515 Penn St
School District:Reading School District
Rating | Name | Grades | Distance |
---|---|---|---|
251 N 2nd St, Reading, PA 19601 | K-5 | 0.4 mi | |
Southwest Middle School
300 Chestnut St, Reading, PA 19602 | 6-7 | 0.4 mi | |
801 N 13th St, Reading, PA 19604 | 10-12 | 1.2 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 511 - 515 Penn St
Date
Details
Price
Change
Source
9/28/2022
Listed
$3,000,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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Estimate the Cost for 511 - 515 Penn St
511 - 515 Penn Street, Reading, PA 19601 (MLS# PABK2022164) is a Warehouse property. 511 - 515 Penn Street is currently listed for $3,000,000 and was received on September 28, 2022. Want to learn more about 511 - 515 Penn Street? Do you have questions about finding other Warehouse real estate for sale in Reading? You can browse all Reading real estate or contact a Coldwell Banker agent to request more information.