Mixed-Use Retail and Apartment
738 Franklin Street Reading, PA 19602
738 Franklin Street, Reading, PA, 19602
$345,000
For Sale
$345,000
Two-story building includes a convenience store on the first level and a rentable apartment above.
Property Size2,776 SF
Price / SF$124.28
Days on Market79
Property Features for 738 Franklin Street
General Information
- Standard status
- Active
- Size
- 2,776 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1945
Listing agency
Coldwell Banker Realty
(610) 373-9900
Listed by
Mini J Castaneda · License #RS345025
(610) 373-9900
Source
Compass
Added: May 4 Updated: Jul 21 at 12:14AM Checked: Jul 21 at 6:45AM
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 two-story, two-unit mixed-use building offers commercial space on the first level and a rentable apartment on the second level. The commercial unit is currently operating as a convenience store, and the listing includes the opportunity to continue running that business. An adjacent parcel provides seven-car parking, along with a detached garage in the rear.
The property includes separate gas heating systems for the commercial and residential units, as well as separate water and electric meters. The listing also notes proximity to the DoubleTree Hotel, Santander Arena, and a Barta station, with a bus stop listed as less than 1 mile away.
The package includes the two-unit building, the parking parcel identified at 738 Franklin St, and the associated business opportunity.
The property includes separate gas heating systems for the commercial and residential units, as well as separate water and electric meters. The listing also notes proximity to the DoubleTree Hotel, Santander Arena, and a Barta station, with a bus stop listed as less than 1 mile away.
The package includes the two-unit building, the parking parcel identified at 738 Franklin St, and the associated business opportunity.
Key Highlights
- Two‑story, two‑unit mixed‑use building (built in 1945) with a convenience store on the first level and a rentable apartment on the second level
- Commercial and residential units have separate gas heating systems, plus separate water and electric meters
- Includes an adjacent parcel with seven‑car parking and a detached garage in the rear
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.0k | $15.12 |
| − Vacancy | −$1.8k | −$0.64 |
| EGI | $40.2k | $14.48 |
| − OpEx | −$12.1k | −$4.35 |
| NOI | $28.1k | $10.14 |
2,776 SF · lease $15.12/SF/yr · vacancy 4.20% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-story building includes a convenience store on the first level and a rentable apartment above.
Where is this duplex located?
The property is located at 738 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 (built in 1945) with a convenience store on the first level and a rentable apartment on the second level; Commercial and residential units have separate gas heating systems, plus separate water and electric meters; Includes an adjacent parcel with seven‑car parking and a detached garage in the rear
