221 Lancaster Ave Shillington, PA 19607-2614
This exceptional mixed-use property at 221 E Lancaster Avenue in Reading, PA presents a compelling investment opportunity. Situated on a 0.14-acre lot in Shillington's vibrant Lancaster Avenue business district, this well-maintained building offers 1,368 square feet of versatile space. The first floor, currently configured as a dental office, is easily adaptable to a variety of commercial uses, or could be converted to create a second residential rental unit, significantly increasing income potential. The second floor comprises a charming two-bedroom apartment, complete with updated replacement windows and a delightful screened-in rear porch offering private outdoor space. A separate private entrance adds to the apartment's appeal and enhances tenant privacy. Ample off-street parking is available at the rear of the property, providing convenient parking for both commercial and residential tenants. A detached single-car garage further enhances parking options and offers additional storage space or potential for generating extra rental income. This property's prime location, combined with its flexible layout and attractive features, makes it an ideal investment for those seeking strong rental returns and long-term appreciation. The asking price is $275,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.