Best Commercial Investment Properties in Berks County!
BerksLuxury.com is going to take a look at 5 of the best commercial investment properties in Berks County for 2019! Some of these properties may require some negotiation on price but there are certainly some great opportunities in Berks County!
249 Penn St. Reading PA 19601 – $575, 000
This property is the current Reading Bus Terminal, which a new owner could opt to renew the agreement or develop the property. This is prime real estate right on 3rd & Penn St. which features two open lots. The building has an additional upper level which currently houses commercial buses. One idea might be developing the parking lot with Penn St. frontage while creating a new agreement with the bus companies for the additional lot and building. Regardless of what your plans are this is a large property, with good traffic, in a prime commercial area in downtown Reading. Overall, it looks like an opportunity for a developer to cash in while helping the foundation of downtown Reading. I would even look for incentives and help from the Reading Downtown Improvement District and other organizations focused on the redevelopment of the downtown area.
10 Stonehedge Rd. Fleetwood, PA 19522 – $4,900,000
This Golf Course represents an opportunity for the savvy entrepreneur or experienced operator. Dividing the Golf Course and the restaurant-catering-events business could be a profitable and rewarding experience for the right person. The wedding catering business is always a great way to turn a profit and the restaurant on the property provides an eclectic opportunity for high-end food and entertainment. The ability to subcontract the operations of the golf course out might be an option to reduce operating responsibility and bring in revenue for someone without as much experience in the field. The price may need to be negotiated but there is certainly some great opportunity here. The demographics are good and the area lacks attractive entertainment options.
801 Lancaster Ave. Reading PA 19607 – $1,500,000
This property has some real potential. It is a particularly high traffic area right on dealership way on Lancaster Avenue. The property has a large amount of frontage on the avenue, is 3.37 acres, has an additional 1.61 acre attached lot available for purchase, and the building’s structure is unique and well designed for an auto business. Multiple bay doors, a big showroom, and many other features make this building attractive for an incoming auto business. I would double check but I am sure the zoning would be in place and the only issue is Reading’s slightly higher taxes which for an incoming business might be balanced with an abatement for new businesses. The building could surely be renovated for an updated look but there is a lot to like about this property.
401 Main St. Oley PA 19547 – $349,900
This Bed & Breakfast is the perfect opportunity for someone interested in rental income at an affordable price. This property is situated squarely in the town of Oley and would be a perfect opportunity for many reasons. The property has six lovely boarding rooms which could be rented out and even includes an additional two bedroom “Owner” or master suite with a private bath featuring a jacuzzi tub. The professional kitchen could be rented out to a catering company or baker for additional revenue.
There is plenty of space on the ground floor for the property to be used for society dinners, meetings or small special events.
If each of the 6 bedroom rents for an average of $600 a month, the master suite rents for $1,000 and the kitchen rents for $1,000 then the property would gross $5,600 a month plus any additional revenue generated from the ground floor event space rentals. That looks to be a great deal on a $349,900 asking price!
500 George St. Reading, PA 19605 – $1,000,000
This property is known as Fantasy Skating Center and I like this property for a number of reasons. This property could be updated and combined with a local restaurant liquor license to create a skating rink and entertainment complex that catered to children during the day and adults at night. With an updated feel and interior this space would be great for kids events during the day and would provide a unique alternative for adults in Berks County at night. Disco skate nights were all the rage back in the day and with an updated look this space would be a hit with both kids and adults for birthdays and special events. A groovy nightclub feel with a DJ would make this place pop at night.
Keep in mind the neighboring mall is being redeveloped with residential housing and the Reading Phillies stadium is right across the street. This property is in a high traffic area and this structure would be easy to tear down should the new owner decide to develop the property for a different use.
About the Author –
Joe DiRosa is the Founder, Publisher & Editor of BerksLuxury.com. I am an Entrepreneur, own several brands and web properties, and am a Licensed Real Estate Agent with RealtyTopia in Wyomissing PA. I have experience as a Mortgage Loan Officer and have been previously licensed as a Real Estate Agent in the State of New York as well.
If you have any questions or are looking for a property you can call me at 610-390-1331 or email me at Joe@BerksLuxury.com.