Mixed-Use Property with
New
For Sale
$575,000
853 Penn St, Reading, PA 19601
A six-unit property combines residential space with an on-site bar.
Property Size4,127 SF
Price / SF$139.33
Days on Market5
Property Features for 853 Penn St
General Information
Standard status
Active
Size
4,127 SF
Property subtype
Commercial
Additional Details
Liquor License
No
Multifamily Units
6
Building Details
Year Built
1912
Listing Agency:
Century 21 Gold
Listed By:
Gilbert W Carbon · License #AB067371
Source:
Viewmarylandhomesforsale
Added: Oct 29
Changed: Nov 1
Last Checked: Nov 1 at 2:59PM
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 Century 21 Gold
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Investment Insights
Based on property information with market context.
At 853 Penn Street in Reading, this mixed-use property contains six units and a bar. The building was constructed in 1912 and totals 4,127 square feet.
Santander Arena is one block away. The sale excludes the liquor license.
Santander Arena is one block away. The sale excludes the liquor license.
Key Highlights
- Six units plus a bar
- 4,127‑square‑foot building
- Constructed in 1912
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,067
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$821,340
$821.3K
Cap Rate 7%
$586,671
$586.7K
Cap Rate 9%
$456,300
$456.3K
Market Conditions
NOI Build-Up for 4,127 SF
Gross rent
$57.9K $14.04/SF
− Vacancy
−$3.2K −$0.77/SF
EGI
$54.8K $13.27/SF
− OpEx
−$13.7K −$3.32/SF
NOI
$41.1K $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%
$821,340
Cap Rate 7%
$586,671
Cap Rate 9%
$456,300
Alternative Uses
Best Use
Specialty Retail
$586.7K
$513.3K – $684.5K
NOI $41,067 @ 7.0% cap · market cap 7.14%
Second Best
Mixed Use
$583.7K
$510.7K – $681.0K
NOI $40,857 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$677.5K
$592.8K – $790.4K
NOI $47,424 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,663
Businesses Nearby
Explore this area
Business Placement
Demographics for 19601, PA
35,477
Population
14,024
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
73%
High-School Grad
3.8 sq mi
ZIP Area
9,336
Density / Sq Mi
$41,133
Median Household Income
$30,433
Median Earnings
$986
Median Rent
$110,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A six-unit property combines residential space with an on-site bar.
Where is this mixed-use property located?
The property is located at 853 Penn St Reading, PA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Six units plus a bar; 4,127‑square‑foot building; Constructed in 1912
