Address
633 E Lancaster Avenue, Reading, PA
Price
$ 1,250,000
Property Attributes
- MLS#PABK2041050
- TypeCommercial
- CountyBERKS
- CityReading
- AreaReading City
- Zip19611
- Style
- Year Built1920
- Taxes$ 15502
- Price$ 1,250,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage9730
- Lot Size0.56 Acres
Data Source:
Bright MLS
Property Description
Welcome to 633 E Lancaster Avenue, a prime commercial property nestled in the heart of the bustling Lancaster Avenue corridor. Boasting a strategic location and an array of desirable features, this investment opportunity presents a lucrative prospect for savvy investors seeking high income-producing assets. Situated on the vibrant Lancaster Avenue corridor, this property enjoys maximum exposure to high traffic flow, ensuring exceptional visibility and accessibility for businesses. Spanning an expansive 9760 square feet, the building offers ample space to accommodate various commercial endeavors. Additionally, the property rests on a generous .56-acre lot, providing substantial room for expansion or development. With over 40 parking spaces available, convenience is prioritized for customers and tenants alike, enhancing the property's appeal and accessibility. Currently leased to a reputable Collision Center, the property benefits from a stable income stream. Furthermore, the tenant assumes responsibility for water, sewer, taxes, and utilities, alleviating the landlord of additional operational costs. This property presents a compelling addition to any investment portfolio, boasting high income-producing potential fueled by its prime location and established tenant. With its strategic location, sizeable footprint, and attractive lease terms, 633 E Lancaster Avenue represents an enticing investment opportunity for discerning investors. Whether seeking to diversify an existing portfolio or capitalize on the thriving commercial landscape of Lancaster Avenue, this property promises enduring value and lucrative returns. Don't miss out on the chance to secure a foothold in one of the region's most coveted commercial corridors. Schedule a viewing today and seize the opportunity to elevate your investment portfolio with this exceptional property.
| Price History | |
|---|---|
| 3/21/2024 | Listed $1,250,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Forced Air |
| Cooling | Central A/C |
| Possession | Negotiable |
| Roof | Pitched,Rubber,Shingle |
| Zoning | CH |
| Security Features | Fire Detection System,Security System,Smoke Detector |
| Construction Materials | Aluminum Siding,Block,Brick,Mixed Plumbing |
| Year Built | 1920 |
| Electric | 3 Phases |
| Property SubType | Retail |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Natural Gas |
| Business Type | Other |
| Accessibility | None |
| County | BERKS |
| Net Operating Income | 95105.44 |
| Operating Expense | 3500.00 |
| New Construction | No |
| Property Type | Commercial Sale |
| Possible Use | Bar/Tavern/Lounge,Barber/Beauty,Automotive,Beer/Wine/Liquor,Car Wash,Clothing,Commercial,Convenience Store,Day Care,Dry Cleaner,Food & Beverage,Florist/Nursery,Food Market,Hotel/Motel,Laundromat,Liqu |
| Water Access Y/N | No |
| Status | ACTIVE |
| Directions | 422 to Rt 222 S BUS to 633 Lancaster Ave,property is on the Right |
| ModificationTimestamp | 2024-03-21T16:44:32 |
| City | READING |
| Buyer Agent Compensation | 2.5 |
| Zoning Description | Commercial Highway |
| MLS Area | Reading City (10201) |
| Lot Size Square Feet | 24393.00 |
| Tax Assessed Value | 354600.0 |
| Waterfront Y/N | No |
| Street Name | LANCASTER |
| Tax Annual Amount | 15502.0 |
| Price Per Sq Ft | 128.47 |
| Acceptable Financing | Cash,Conventional |
| Vacation Rental Y/N | No |
| Days on Market | 41 |
| Standard Status | Active |
| Year Built Source | Estimated |
| Tax Lot | 1858 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Electric,Natural Gas |
|---|---|
| Flooring | Vinyl |
| Hot Water | Natural Gas |
| Heating Y/N | Yes |
| Street Suffix | AVENUE |
| Central Air Y/N | Yes |
Exterior Features
| Parking Features | Paved Parking |
|---|---|
| Water Source | Public |
| Total Parking Spaces | 40 |
| Type of Parking | Parking Lot |
| Land Use Code | 3325 |
| Foundation Details | Brick/Mortar |
| Water View Y/N | No |
| Building Area Total | 9730.00 |
| Lot Dimensions | 0.00 x 0.00 |
| Lot Size Acres | 0.56 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 201200.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| Fencing Y/N | No |
| LotDimensionsSource | Assessor |
| Car Parking Spaces | 40 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 19611
Price
Taxes
Visits
Year Built
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