Mixed-Use Building with
New
For Sale
$950,000
332 Penn Street, Reading, PA 19602
A restaurant occupies the main building, with residential rentals and a business office on the upper floor.
Property Size10,000 SF
Price / SF$146.15
Days on Market3
Property Features for 332 Penn Street
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
23
Property subtype
Retail
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Mixed-Use Components
retail, residential, office
Building Details
Building Size
10,000 SF
Year Built
1935
Buildings
1
Tenancy
Multi
Listed By:
John Buccinno, SIOR CCIM
(610) 370-8508
Source:
Naikeystone
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 24 at 3:23PM
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 John Buccinno, SIOR CCIM
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 332 Penn Street, the mixed-use property includes an approximately 6,500-square-foot restaurant and three upstairs units: two occupied by residential tenants and one used as a business office. The restaurant has operated at this address since 1935 under family ownership.
The offering also includes a separate 0.21-acre surface parking lot with 23 spaces. The lot is leased to a third party, with termination available on six months’ notice.
The offering also includes a separate 0.21-acre surface parking lot with 23 spaces. The lot is leased to a third party, with termination available on six months’ notice.
Key Highlights
- Approximately 6,500 SF restaurant with three upstairs units
- Two upstairs units are occupied residential rentals; the third is a business office
- Separate 0.21‑acre surface parking lot with 23 spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,681
Cap Rate
6.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,293,620
$1.3M
Cap Rate 7%
$924,014
$924.0K
Cap Rate 9%
$718,678
$718.7K
Market Conditions
NOI Build-Up for 6,500 SF
Gross rent
$91.3K $14.04/SF
− Vacancy
−$5.0K −$0.77/SF
EGI
$86.2K $13.27/SF
− OpEx
−$21.6K −$3.32/SF
NOI
$64.7K $9.95/SF
Area
Berks County, PA
Vacancy
5.50%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,293,620
Cap Rate 7%
$924,014
Cap Rate 9%
$718,678
Alternative Uses
Best Use
Specialty Retail
$924.0K
$808.5K – $1.08M
NOI $64,681 @ 7.0% cap · market cap 6.81%
Second Best
Mixed Use
$919.3K
$804.4K – $1.07M
NOI $64,350 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$1.07M
$933.7K – $1.24M
NOI $74,693 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,664
Businesses Nearby
Explore this area
Business Placement
Demographics for 19602, PA
19,782
Population
7,907
Households
2.5
Avg Household Size
32
Median Age
11%
College-Educated
71%
High-School Grad
2.0 sq mi
ZIP Area
9,891
Density / Sq Mi
$38,179
Median Household Income
$30,848
Median Earnings
$978
Median Rent
$73,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A restaurant occupies the main building, with residential rentals and a business office on the upper floor.
Where is this mixed-use property located?
The property is located at 332 Penn Street Reading, PA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Approximately 6,500 SF restaurant with three upstairs units; Two upstairs units are occupied residential rentals; the third is a business office; Separate 0.21‑acre surface parking lot with 23 spaces
