1635 Centre Ave
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1635 Centre Ave
12,272 SF Retail Building Reading, PA 19601 $2,790,000 ($227/SF) 9.80% Cap Rate
Executive Summary
The In Town Motel offers 5 commercial units on the 1st floor consisting of a tattoo parlor, barber shop, laundromat, restaurant & notary. There are also 17 room rentals with restrooms in each rental unit, and a private parking lot with 27 spaces. Included in the sale of the property is the owner's laundromat.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
12,272 SF
Building Class
C
Year Built
1925
Price
$2,790,000
Price Per SF
$227
Cap Rate
9.80%
NOI
$273,420
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.52
Land Acres
0.54 AC
Opportunity Zone
Yes
Zoning
R-3 - Residential
Parking
27 Spaces (2.2 Spaces per 1,000 SF Leased)
Frontage
PROPERTY TAXES
| Parcel Number | 14-5307-26-69-3316 | Total Assessment | $503,000 (2024) |
| Land Assessment | $101,900 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $401,100 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
14-5307-26-69-3316
Land Assessment
$101,900 (2024)
Improvements Assessment
$401,100 (2024)
Total Assessment
$503,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
-
Kent Wrobel -
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1635 Centre Ave
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