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317 Franklin Street Reading, PA 19602

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For Sale
$550,000

Investment opportunity with approved apartments and commercial space.

Type:Mixed Use
Property size:
8,820 SF
Added:
Jan 19, 2025
Days on Market:
449
Last Refresh:
Apr 1 at 9:02 pm

Property Features for 317 Franklin Street

General Information

Standard status
Active
Size
8,820 SF
Property subtype
Mixed Use

Building Details

Year Built
1920

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Listing Contact
Tyler Miller

Listing agent Tyler Miller

Listing office Keller Williams Platinum Realty

Listing date Jan 19, 2025

Source Xome

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 Keller Williams Platinum Realty


Overview

Versatile Commercial Property in Reading

This commercial property, located in Reading, offers approximately 9,000 sq. ft. of space and has received approval for the construction of four apartments. Each apartment is planned to include two bedrooms and 1,100 sq. ft. of living space. The first floor presents various possibilities, having previously served as a seafood market and furniture store, and is already approved for use as a daycare. Other potential uses include retail or office space. The property features 3-phase electric and a side entrance for deliveries. Its location offers visibility and foot traffic, with proximity to the bus station, downtown Reading, Santander Arena, The GoggleWorks, and Reading IMAX Theatre. Situated in a designated Tax Opportunity Zone, the property may offer tax benefits to investors.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Reading
County
Berks
State
Pennsylvania
Longitude
-75.9311395
Latitude
40.3338827

FAQs

What type of property is this?
Mixed-use property - Investment opportunity with approved apartments and commercial space.
Where is this mixed-use property located?
The property is located at 317 Franklin Street Reading, PA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: High CAP Rate Potential: Offers a potential CAP rate exceeding 11%, indicating a strong return on investment.; Approved for Apartments: Already approved for the construction of 4 spacious apartments, each with 2 bedrooms and 1,100 sq. ft.; Versatile Commercial Space: First floor offers diverse usage possibilities, including daycare (already approved), retail, or office space.
More about this property
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