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505 Penn Street

READING, PA 19601
  • $2,200,000
  • STATUS: Active
  • ON SITE: 178 Days
  • ID#: PABK2044226
UPDATED: 39 min ago
$2,200,000
  • 0
    BEDS
  • 0.24
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1900
County:

School Information

High School:
School District:

Description

**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 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 areas 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. For additional information and to schedule a tour, **call us today!** Dont miss out on this exceptional opportunity to own a piece of Reading's history!

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or ExecuHome Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-12-06T21:51:27.087.
www.execuhome.com/homes/151517640
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505 Penn Street READING, PA 19601

  • Price: $2,200,000
  • Status: Active
  • On Site: 178 Days
  • Updated: 39 min ago
  • ID#: PABK2044226
0
Beds
0
Baths
0
½ Baths
0.24
Acres
1900
Built
Neighborhood:
Reading City (10201)
County:
Berks
Area:
Reading City (10201)
High School:
Reading
School District:
Reading
Property Description
**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 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 areas 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. For additional information and to schedule a tour, **call us today!** Dont miss out on this exceptional opportunity to own a piece of Reading's history!
Exterior Features

Construction Materials MasonryMixed PlumbingStoneOther Door Features Double EntrySix Panel Garage YN No Location Type Downtown Lot Features LevelPremiumZero Lot LineOther Parking Features Handicap ParkingLighted ParkingPaved ParkingPublicSecurity/MonitoredUnassigned Parking Types Public GarageParking LotPrivate GarageDriveway Property Condition Excellent Road Responsibility City/County Road Surface Type Black Top Roof Rubber Soil Types UnknownUrban Land Not Rated View CityStreet Water Access YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 35000.00 Cooling Central A/C Flooring Tile/BrickCarpet Heating Forced Air Heating YN Yes Inclusions Gross lease to include all utilities. Net Square Feet 40000.00 Security Features Fire Detection SystemMain Entrance LockCarbon Monoxide Detector(s)Smoke DetectorSecurity System

Property Features

Acceptable Financing ConventionalCash Accessibility Features Elevator36"+ wide Halls32"+ wide Doors Annual Gross Expense 95001.80 Central Air YN Yes Cooling Fuel Electric Cross Street 5TH Electric 440 Volts200+ Amp Service Electric Expense 4300.00 Elevators 1 Entry Level 1 Foundation Details Concrete Perimeter Gross Income 194000.00 Heating Fuel Natural GasElectric Historic YN Yes Hot Water ElectricNatural Gas Insurance Expense 7500.00 Lease Considered YN No Maintenance Expense 9700.00 Municipality READING CITY Navigable Water YN N Net Operating Income 99034.00 New Construction YN No Number Of Units Total 10 Operating Expense Includes ElectricHeating/CoolingInsurancePest ControlRepair/MaintenanceSewerTrashWaterOther Original MLSNumber 803128114256 Owner Pays Accounting/LegalAdvertising/Licenses and PermitsAir ConditioningAll UtilitiesElectricityGasHeatInsuranceServices (All)Taxes - Real Estate Ownership Interest Fee Simple Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 6861.00 Tax Lot 9470 Total Actual Rent 194000.00 Transportation Airport less than 10 milesBus Stop less than 1 mile Trash Expense 7000.00 Utilities Cable TV AvailableElectric AvailableNatural Gas AvailablePhone AvailablePhone ConnectedSewer AvailableWater Available Vacation Rental YN No Water Source Public Zoning CCCOMMERCIAL CORE Zoning Description many uses by rightvery favorable zoning for businesses from retail restaurantto office or meeting space.

Listing courtesy of Destination Realty LLC: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or ExecuHome Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-12-06T21:51:27.087.
 
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