5 E Penn Ave, Wernersville, PA 19565
- Bars & Pubs
- 15,520 SF
- 0.23 lot acres
Current Use by Public Records
- Penn Werner Hotel / Bar & Pub
- Penn Werner Hotel and Bar / Bar & Pub
- BigDaveIsFat / Theater & Performing Art Venue / Music Venue
- ATM / Atm
- True's Cuppa Love / Cafe & Coffee Shop
Property Details for 5 E Penn Ave
- Year built
- 1890
- Construction
- FRAME
- Lot size
- 0.23 lot acres
- Property type
- Bars & Pubs
- Property subtype
- Pubs
- APN
- 4366-11-57-6450
- APU
- 436611576450
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| May 7, 2021 | $950,000 | Rm Management Holdings III LLC | David B Shefter SR. | Deed | $800k · Lebanon FCU |
| Dec 16, 2005 | $450,000 | David B Shefter SR. | Mountain Top Associates INC | Grant Deed | $475k · Leesport Bank |
| May 3, 2005 | $200,000 | Mountain Top Associates INC | Mountain Top Associates INC | Grant Deed · related | — |
| Jul 14, 2003 | $275,000 | Mountain Top Associates INC | Underkoffler,james M & Leeann | Grant Deed | — |
| — | — | Underkoffler,james M Etal | — | Deed Of Trust · related | $60k · National Penn Bk |
| — | — | Underkoffler,james M & Leeann | — | Deed Of Trust · related | $30k · National Penn Bk |
| — | — | Mountain Top Associates INC | — | Deed Of Trust · related | $222k · Fulton Bk |
Description
This exceptional investment opportunity presents a 42-unit multi-family property located at 5 E Penn Avenue, Wernersville, PA. The 8,000 square foot building sits on a 0.41-acre lot and is currently generating a projected annual net operating income (NOI) of $430,000. The property boasts a diverse tenant mix, including 38 residential rooming units (17 with private bathrooms) and four thriving commercial spaces. These commercial units comprise a bar, a cafe, a fully equipped kitchen, and a spacious restaurant/ballroom area suitable for events, along with a thrift shop. Adding to the investment potential is an included additional parcel across the street, encompassing a barn with its own parking lot. This secondary parcel, with existing zoning approval, offers significant expansion possibilities, potentially allowing for additional storage, parking, or even further residential units. The property's prime location in a high-traffic area ensures consistent occupancy and income. This historic building offers a blend of stable income and substantial upside potential for a discerning investor. Detailed financial information is available upon request. All offers will be considered.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $980,000
- ML approach
- $955,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $579,000
Market price range: $580k - $2.84M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $1,385,000 Current use
- OFFICE BUILDING
- $1,510,000 Change: +9% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Wernersville
- County
- Berks
- State
- Pennsylvania
- Longitude
- -76.0794
- Latitude
- 40.3299
- CBSA code
- 39740
- CBSA name
- READING, PA METROPOLITAN STATISTICAL AREA
