511 Penn St Reading, PA 19601

Located in the Central Business District of Reading, PA, the property at 511 - 515 Penn Street offers a 40,000 square foot building suitable for various uses. Situated in the Keystone Opportunity Zone, the 0.33-acre property features retail and commercial space in the heart of Penn Street, between 5th and 6th Streets, within the Reading Downtown Improvement District. Formerly Reading Trust, the building extends from Penn Street to Court Street, providing access from both streets. It falls within the Penn Square Overlay District, with an underlying Commercial Core (C-C) district designation. The three-story building includes a large 40-foot atrium ceiling and a full basement with multiple vaults. It is suitable for single or multiple tenant occupancy. The property benefits from its proximity to the Reading Post Office, Attorney Row, City Hall, County Offices, and The Sovereign Center. A new roof has been installed. Multiple elevators and a sprinkler system are in place, and several parking garages are within walking distance. Public transportation is available on 5th Street. This property presents a redevelopment project opportunity, with potential grant opportunities available for rehabilitation and development, including the CRIZ Grant, which may cover up to 80% of property acquisition and rehabilitation costs for commercial development. The property could potentially accommodate approximately 30 apartments, with the first floor remaining commercial.