Alan Shuman - Commercial Real Estate Showcase

Alan Shuman Property Listings
Shuman Development Group
50 N Fifth St
Reading, PA 19601-3437

35 N 6th Street - Sixth and Washington Bank Office Bldg

Reading, PA 19601-3668 - Berks County Submarket

Property Type:Office Sub Type:- Status:Existing Year Built:1910
Stories:6 Typical Floor:- Building Size:98,000 SF
For Sale Price:$895,000 Price/SF:$9.13
Cap Rate:-

26,000 sf existing long term tenant (Branch Bank) is located within building. There is possible housing rehab for tax crediting. The property is located on a mass transit bus route with on-site parking as well as close to additional public parking. It is conveniently located to downtown city, county, state and federal offices as well as major banking and insurance facilities.

Reading, Berks County is an urban county situated in southeastern Pennsylvania. Reading is strategically located at the intersection of a dynamic market of economic, trade and industrial activities in the New York-Washington, D.C. corridor. This market includes Philadelphia, 56 miles southeast, Baltimore, 97 miles south and New York, 125 miles northeast.

Two conference rooms (one room seating 50 ppl and one room seating 15 ppl)available on the Mezz level on an hourly or daily rate. Tenants can access these rooms once a month.

Sale Notes:
Greater Reading Corporate Center building in need of complete renovation. 98,000 square feet of building with original section built in 1925 with one of areas finest ornamental bank branches. ornamental plaster ceiling was restored in the 1980s at a cost of 800,000.00. new addition was built in 1964. This is the one property not publicly owned on the county services city block. A great location next to the courthouse and county services building. Building is about half cleaned out for redevelopment. Redevelopment can qualify for historic tax credits and building has been submitted for a ten year Keystone Opportunity Zone status that would mean almost no local or state taxes for ten years. Property is also listed at the state legislature for up to a 4,000,000 state RACP grant for appropriate redevelopment. Lender in possession, but need to go through full foreclosure process to divest of other liens. About 90 day settlement. environmental, structural, building, and redevelopment plans are available at no additional cost

Shuman Development Group
Alan Shuman
(610) 736-9393

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