Medical-Ready Office
For Sale
Contact for pricing
17 N 23RD STREET, Reading, PA 19606
Flexible office suite offers four private offices, a lobby/reception area, and two restrooms.
Property Size1,500 SF
Price / SF$1.10
Days on Market99
Property Features for 17 N 23RD STREET
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Commercial
Site & Location
Traffic Count
20,000 vehicles/day
Highway Access
Yes
Building Details
Year Built
1915
Listing Agency:
Long & Foster Real Estate, Inc.
(610) 489-2100
Listed By:
Tiffany Clement · License #RS345989
(484) 259-7909
Source:
Cummingsrealtors
Added: Jul 17
Changed: Oct 21
Last Checked: Oct 20 at 10:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Long & Foster Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This versatile commercial office suite is offered for sale and totals approximately 1,300–1,500 square feet. The space includes four private offices, a spacious lobby or retail/reception area, and two restrooms. Interior condition is described as clean and well maintained. The property also highlights visibility and signage opportunities.
The suite is conveniently located at the intersection of Perkiomen Avenue and South 23rd Street in the heart of Mount Penn, with easy access to Business Route 422. It is directly across from a bus stop, and the remarks note more than 20,000 vehicles passing daily. Two dedicated parking spaces are included, with additional on-site and nearby street parking for customers and clients.
Lease inclusions listed in the remarks are heat, central air conditioning, water and sewer, trash service, and snow removal. The listing also advises prospective tenants to verify intended use with the township regarding zoning or permitted uses.
The suite is conveniently located at the intersection of Perkiomen Avenue and South 23rd Street in the heart of Mount Penn, with easy access to Business Route 422. It is directly across from a bus stop, and the remarks note more than 20,000 vehicles passing daily. Two dedicated parking spaces are included, with additional on-site and nearby street parking for customers and clients.
Lease inclusions listed in the remarks are heat, central air conditioning, water and sewer, trash service, and snow removal. The listing also advises prospective tenants to verify intended use with the township regarding zoning or permitted uses.
Key Highlights
- Approximately 1,300 SF commercial suite for lease in the heart of Mount Penn (approx. 1,300–1,500 SF).
- Layout includes four private offices plus a spacious lobby/retail or reception area.
- Two restrooms in the suite.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,568
Suggested Prices Based on Cap Rates
Cap Rate 5%
$251,360
$251.4K
Cap Rate 7%
$179,543
$179.5K
Cap Rate 9%
$139,644
$139.6K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$19.4K $12.96/SF
− Vacancy
−$2.7K −$1.79/SF
EGI
$16.8K $11.17/SF
− OpEx
−$4.2K −$2.79/SF
NOI
$12.6K $8.38/SF
Area
Berks County, PA
Vacancy
13.80%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$251,360
Cap Rate 7%
$179,543
Cap Rate 9%
$139,644
Alternative Uses
Best Use
Office B
$179.5K
$157.1K – $209.5K
NOI $12,568 @ 7.0% cap · market cap 761.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$246.2K
$215.5K – $287.3K
NOI $17,237 @ 7.0% cap · market cap 1,044.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
20,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
301
Businesses Nearby
Explore this area
Business Placement
Demographics for 19606, PA
35,153
Population
14,593
Households
2.4
Avg Household Size
42
Median Age
29%
College-Educated
93%
High-School Grad
26.7 sq mi
ZIP Area
1,317
Density / Sq Mi
$81,872
Median Household Income
$45,583
Median Earnings
$1,282
Median Rent
$229,400
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Flexible office suite offers four private offices, a lobby/reception area, and two restrooms.
Where is this office unit located?
The property is located at 17 N 23RD STREET Reading, PA.
What are key features of this property?
This property features: Approximately 1,300 SF commercial suite for lease in the heart of Mount Penn (approx. 1,300–1,500 SF).; Layout includes four private offices plus a spacious lobby/retail or reception area.; Two restrooms in the suite.
