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Tracy Marshall

Engel & Völkers

[email protected] +1(443) 306-7673

$ 550,000

Est. payment -/mo

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Active

317 FRANKLIN ST Reading, PA 19602

8,820 SqFt

UPDATED:

01/23/2025 04:08 PM

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 8,820 sqft

Price per Sqft $62

Subdivision Reading

MLS Listing ID PABK2052688

Originating Board BRIGHT

Year Built 1920

Annual Tax Amount $4,760

Tax Year 2024

Lot Size 6,534 Sqft

Acres 0.15

Lot Dimensions 76 x 84

Property Description

Check out this amazing investment opportunity in the heart of Reading! This versatile commercial property, with nearly 9,000 sq. ft. has the potential for a CAP rate over 11 and is already approved for 4 spacious apartments, each featuring 2 bedrooms and 1,100 sq. ft. of living space. The first floor offers endless possibilities. While it has been previously used as a seafood market and furniture store, it has already received approval for a daycare. Other potential uses could include retail, office space, or your own custom vision. The property is equipped with 3-phase electric, a side entrance for deliveries, and boasts a prime location close to the bus station, downtown Reading, Santander Arena, The GoggleWorks, and Reading IMAX Theatre. This property offers excellent visibility and foot traffic and is situated in a designated Tax Opportunity Zone, offering unique tax benefits to investors. Take advantage of this prime investment opportunity! Sketches, permits, contractor estimates, and additional documentation available upon request, making it easy for you to evaluate and plan your next steps. Reach out today for more information or to schedule a showing!

Location

State PA

County Berks

Area Reading City (10201)

Zoning C-C

Interior

Hot Water Electric, Multi-tank

Heating Forced Air

Cooling Central A/C, Ductless/Mini-Split

Flooring Wood, Ceramic Tile, Concrete

Equipment Negotiable

Heat Source Electric, Natural Gas

Exterior

Garage Spaces 6.0

Water Access N

View City

Roof Type Flat,Rubber

Accessibility Doors - Swing In, Wheelchair Mod, Ramp - Main Level

Total Parking Spaces 6

Garage N

Building

Lot Description Corner

Foundation Brick/Mortar

Sewer Public Sewer

Water Public

New Construction N

Schools

Elementary Schools Lauers Park

Middle Schools Southwest

High Schools Reading

School District Reading

Others

Tax ID 05-5306-26-79-0606

Ownership Fee Simple

SqFt Source Assessor

Security Features 24 hour security,Electric Alarm,Exterior Cameras,Fire Detection System

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

Virtual Tour https://www.youtube.com/watch?v=19fAvNn2FIc

Listed by Tyler Miller • Keller Williams Platinum Realty - Wyomissing

Tracy Marshall

License ID: 678268

+1(443) 306-7673

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