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    535 Canal St Reading, PA 19602

    Sponsored
    For Sale
    $950,000

    Historic Restaurant, Event Space, Liquor License

    Property size:
    93,968 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional turn-key restaurant and event space, located at 535 Canal St in Reading, Pennsylvania, is being offered for sale for the first time. The property, condominium unit #3, encompasses 12,703 square feet of net rentable space, distributed across a main floor (11,409 sq ft) and a basement (1,294 sq ft). Built in 1905 and renovated in 2019, this Class C property boasts a prime location within the RR - Riverfront Redevelopment Overlay District, situated on a 0.87-acre lot (APN: 15-3064-28-86-3606). The five-story building offers seating for 250+ patrons and is well-established, with a strong reputation for hosting events, weddings, and meetings. An expertly equipped kitchen and an "R"-Liquor License are included in the sale price of $950,000 ($10.11/sq ft). The property is immediately available. This is a rare opportunity to acquire a thriving, established business in a desirable location. The total building square footage is 93,968 sq ft.

    Property Features for 535 Canal St

    General Information

    Property type
    Restaurants
    Square Feet
    93,968 SF
    Class
    C
    Lot Size
    37,897 SF

    Building Details

    Year Built/Renovated
    1905/2019
    Buildings
    1
    Stories
    5
    Units
    1

    HighLights

    • Condominium Unit #3: 12,703 SF (11,409 SF main floor + 1,294 SF basement).
    • Turnkey pub, restaurant, and event space.
    • Immediately available.
    • Includes an "R" liquor license.
    • Seats 250+.
    • Established reputation for events, weddings, and meetings.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.9264298
    Latitude
    40.3255051

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    FAQs

    What type of property is this?
    Restaurant - Historic Restaurant, Event Space, Liquor License
    Where is this restaurant located?
    The property is located at 535 Canal St 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: Condominium Unit #3: 12,703 SF (11,409 SF main floor + 1,294 SF basement).; Turnkey pub, restaurant, and event space.; Immediately available.
    Request Owner's contact information
    535 Canal St Reading, PA 19602
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    Reading, PA 19602
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    535 Canal St Reading, PA 19602
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