702 N 8th St - Apartments FOR SALE


Reading, PA 19604- Outlet Area
$16,200,000 USD
610-779-1400
702 N 8th St, Reading, PA for Sale
$16,200,000 USD
Apartments - FOR SALE
1/4
null | 6.5% Cap Rate

702 N 8th St
Reading, PA 19604
Outlet Area


HIGHLIGHTS

  • High Density Residential Neighborhood
  • Great on-site amenities
  • Grocery Store across the street

OVERVIEW

NAI Keystone is pleased to present the Big Mill Apartments, located at 702 N.8thSt.,Reading,PA. Built-in 1904, the Big Mill is a 6-story, Class A Mixed-Use Apartment building with 69 residential apartments and 7 commercial units, and was most recently renovated in 2017. In 2017, the property was honored with the Pennsylvania Historic Preservation Award. The building has been completely renovated, including every primary mechanical, electrical and plumbing systems. The roof has a 20-year warranty and was installed through Liquid Membrane Roofing Systems, allowing an extended warranty program beyond the initial 20 years, which currently has 10+ years remaining. As part of the renovations, over $15 million were allocated through the historic preservation tax credit program which contributed to the structural and aesthetic improvements to the building.

FOR SALE DETAILS

PRICE

$16,200,000 USD

PRICE/SF

$133 USD /SF

# OF UNITS

69

PRICE/UNIT

$234,783

CAP RATE

6.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Big Mill Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1904

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.93 AC

LAND SF

40,511 SF

ZONING

NC

APN/PARCEL ID

12-5307-60-94-3381

ASK ABOUT THIS PROPERTY

John Buccinno,CCIM SIORNAI Keystone Commercial & Industrial LLCMore Info
610-779-1400

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John Buccinno,CCIM SIORNAI Keystone Commercial & Industrial LLCMore Info
610-779-1400

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.