Two-Story Mixed-Use
For Sale
$345,000
736738 FRANKLIN STREET, Reading, PA 19602
Commercial and residential areas are supported by separate heating, water, and electric systems.
Property Size2,776 SF
Price / SF$124.28
Days on Market103
Property Features for 736738 FRANKLIN STREET
General Information
Standard status
Active
Size
2,776 SF
Total Parking Spaces
6
Property subtype
Mixed Use
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Business Included
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,140
Amenities
Central Air
3
Shingle
Parking.
Lot.
0.00 x 0.00
Building Details
Year Built
1945
Buildings
1
Stories
2
Abandoned
No
Listing Agency:
Coldwell Banker Realty
(610) 507-6352
Listed By:
Mini Castaneda · License #RS345025
(610) 507-6352
Source:
Xome
Added: Apr 29
Changed: Aug 9
Last Checked: Aug 9 at 8:10AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 2776 SF mixed-use property is a two-story, two-unit building with a commercial area on the ground floor and an apartment above. The first-floor space is currently operated as a convenience store, while the upper-level residence is available for rental or occupancy. The building dates to 1945 and includes central air, separate gas heating systems, and independent water and electric meters for the commercial and residential areas.
The property at 736738 Franklin Street in Reading includes an adjacent parcel with six-car parking and a detached garage behind the building. Nearby destinations include the DoubleTree Hotel, Santander Arena, and a Barta station. The convenience-store business is also included with the property.
The property at 736738 Franklin Street in Reading includes an adjacent parcel with six-car parking and a detached garage behind the building. Nearby destinations include the DoubleTree Hotel, Santander Arena, and a Barta station. The convenience-store business is also included with the property.
Key Highlights
- Two‑story, two‑unit mixed‑use building with commercial space and an apartment
- 2776 SF property built in 1945
- Existing convenience‑store operation included with the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,147
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$562,940
$562.9K
Cap Rate 7%
$402,100
$402.1K
Cap Rate 9%
$312,744
$312.7K
Market Conditions
NOI Build-Up for 2,776 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.0K $15.12/SF
− Vacancy
−$1.8K −$0.64/SF
EGI
$40.2K $14.48/SF
− OpEx
−$12.1K −$4.35/SF
NOI
$28.1K $10.14/SF
Area
Berks County, PA
Vacancy
4.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$562,940
Cap Rate 7%
$402,100
Cap Rate 9%
$312,744
Alternative Uses
Best Use
Retail
$402.1K
$351.8K – $469.1K
NOI $28,147 @ 7.0% cap · market cap 8.16%
Second Best
Specialty Retail
$394.6K
$345.3K – $460.4K
NOI $27,624 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$455.7K
$398.8K – $531.7K
NOI $31,900 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,252
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial and residential areas are supported by separate heating, water, and electric systems.
Where is this mixed-use property located?
The property is located at 736738 FRANKLIN STREET Reading, PA.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two‑story, two‑unit mixed‑use building with commercial space and an apartment; 2776 SF property built in 1945; Existing convenience‑store operation included with the property
