Downtown Reading Commercial Redevelopment
511 - 515 PENN STREET, Reading, PA 19601
40,000 SF building in Reading's Central Business District.
Type:Commercial/Industrial
Property size:
40,000 SFLot size:
0.33 AcresPrice / SF:
$75/SF- Added:
- Mar 12, 2026
- Days on Market:
- 73
- Last Refresh:
- Apr 5 at 8:53 pm
Property Features for 511 - 515 PENN STREET
General Information
- Standard status
- Active
- Size
- 40,000 SF
- Lot size
- 0.33 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1900
Listing agent Peter B Gustis License #RS295392
Listing office Springer Realty Group (484) 498-4000
Listing date Mar 12, 2026
Source Exitrealty
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 Springer Realty Group
HighLights
- 40,000 sq ft building in Reading's Central Business District, offering significant retail/commercial space.
- Located in the Keystone Opportunity Zone, providing potential tax benefits.
- Grant opportunities available, including CRIZ grants potentially covering up to 80% of acquisition and rehab costs.
- Redevelopment potential for approximately 30 apartments with commercial space on the first floor.
- Features a large 40 ft atrium ceiling and a full basement with multiple vaults.
- New roof and multiple elevators.
Overview
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.
Property Profile
Location Intelligence
Current Use by Public Records
SCO Attic Insulation ...
Construction Company
Location Insight
- Map
- Local Demand
- City
- Reading
- County
- Berks
- State
- Pennsylvania
- Longitude
- -75.9273
- Latitude
- 40.3358
Nearby Similar for Sale
FAQs
What type of property is this?
Bank - 40,000 SF building in Reading's Central Business District.
Where is this bank located?
The property is located at 511 - 515 PENN STREET Reading, PA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 40,000 sq ft building in Reading's Central Business District, offering significant retail/commercial space.; Located in the Keystone Opportunity Zone, providing potential tax benefits.; Grant opportunities available, including CRIZ grants potentially covering up to 80% of acquisition and rehab costs.
