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Property profile & analytics
FOR SALE
Turn key restaurants
535 Canal St Reading, PA 19602
Entity Owned
Free & Clear
Property ID
US73-1971903
For Sale
1 / 30
$950,000
535 Canal St, Reading, PA 19602
View Listing →
Property summary
AI-generated overview
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 profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1905
Total area
12,621 SF
APN
5306-43-86-3606-C02
UPID
US73-1971903
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$365k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$726k
Blend (final)
Blend
$365k
Owner & transaction history
CANAL STREET INC
CANAL STREET INC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Reading submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reading submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$365k
Range $329k – $402k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$29 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$8,890
Tax year 2024
Assessed value
$335,800
Assessed 2024
Previous assessed
$335,800
+0.0% YoY
Effective rate
2.65%
On assessed value
Assessed land
$9,500
Assessed improvement
$326,300
Land market value
$9,500
Improvement market value
$326,300
Total market value
$335,800
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1905
Heating
NONE
Stories
1
Total area
12,621 SF
APN
5306-43-86-3606-C02
UPID
US73-1971903
Jurisdiction
BERKS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1905
Heating
NONE
Stories
1
Current owner
From public records · entity-resolved
CANAL STREET INC
Entity
Free & Clear · 0 yrs held
Mailing address
535 CANAL ST, READING, PA 19602-2675
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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