Listed By:
Premier Property Sales & Rentals
Address
125 Morgantown Road, Reading, PA
Price
$ 999,000
Property Attributes
  • MLS#PABK377744
  • TypePending
  • CountyBERKS
  • CityReading
  • AreaReading City
  • Zip19611
  • StyleGeneral Retail,Storage,Professional
  • Year Built1974
  • Taxes$ 13521
  • Price$ 999,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage6910
  • Lot Size1.13 Acres
Data Source:
Bright MLS
Property Description

Fantastic Commercial Investment! 5 unit Office/Retail Center with 36 storage units near major roadways. Fully occupied by great tenants. Enterprise Rent-a-Car (left corner $3,400/mo) anchor tenant with long term multi-year lease with escalating lease rents. They also reimburse for water and taxes. Additional long-term tenant on right corner of building that called Pillar Lounge ($1,700/mo). Interior tenants, CB Shop ($500/mo), Reading Education Association ($750/mo), Advance Scale ($750/mo). New 'Conklin' Roof made from specialized acrylic which provides a waterproof and long lasting barrier against the elements.

Price History
5/18/2021 Listed $1,050,000
6/9/2021 5% - $999,000

General Features

Sewer Public Sewer
Heating 90% Forced Air
Cooling Central A/C
Utilities Water Available,Sewer Available,Phone,Cable TV,Electric Available,Natural Gas Available
Possession Settlement
Roof Flat,Asphalt,Rubber
Zoning COMMERCIAL
Security Features Fire Detection System,Smoke Detector
Construction Materials Block,Stucco,Brick
Exclusions no exclusions
Year Built 1974
Electric 200+ Amp Service
Property SubType Mixed Use
Tax Year 2021
Percent Ownership Fee Simple
Cool Fuel Electric
Gross Income 114978.00
OwnerPays Water,Sewer,Trash Collection,Snow Removal,Lawn/Shrub Care
Business Type Other/General Retail,Storage,Professional
Accessibility 2+ Access Exits
County BERKS
Net Operating Income 79691.00
Operating Expense 18570.00
Insurance Expense 2700.00
New Construction No
Property Type Commercial Sale
MaintenanceExpense 3000.00
Water Access Y/N No
Property Use Investment
Status PENDING
Directions Located on Rte 10 near Business Route 222 (Lancaster Ave). Easy on/off access to Rte 422.
ModificationTimestamp 2023-12-13T18:17:38
City READING
Buyer Agent Compensation 2
Zoning Description Commercial - Highway District
MLS Area Reading City (10201)
Lot Size Square Feet 49223.00
Tax Assessed Value 309300.0
Waterfront Y/N No
Street Name MORGANTOWN
Tax Annual Amount 13521.0
Property Condition Very Good
Trash Expense 1050.00
Price Per Sq Ft 237.86
Historic Y/N No
Lease Considered Y/N No
Vacation Rental Y/N No
Days on Market 112
Location Type Business District
Standard Status Pending
Year Built Source Assessor
Tax Lot 6458
Total Actual Rent 114000.00
Cap Rate 8.00
Buyer Agent Compensation Type % Of Gross
Association Recreation Fee No

Interior Features

Heating Fuel Natural Gas
Flooring Carpet,Ceramic Tile,Laminated
Hot Water Electric,Natural Gas
Heating Y/N Yes
Street Suffix ROAD
Central Air Y/N Yes
Total Restrooms 7

Exterior Features

Water Source Public
Total Parking Spaces 53
Type of Parking Parking Lot
Land Use Code 4280
Foundation Details Slab,Concrete Perimeter
Water View Y/N No
Building Area Total 4200.00
Lot Dimensions 0.00 x 0.00
Lot Size Acres 1.13
Lot Size Units Square Feet
Lot Size Source Assessor
Land Assessed Value 80900.00
Navigable Water Y/N No
Water Oriented Y/N No
LotDimensionsSource Assessor
Car Parking Spaces 50

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 Pending Average in 19611

Price
AVG $290K
$1,000K
Taxes
AVG $3,695
$13,521
Visits
AVG 98
609
Data Provided by Inside Real Estate®
Year Built
AVG 1937
1974
Walkscore
AVG 68
38
Data Provided by Walkscore® not using MLS data

Areas We Cover