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About the Listing REALOGA1 - 3253720
Excellent mixed-use investment opportunity in the City of Reading! This well-maintained property features a fully operational restaurant on the first floor and a residential apartment in the rear and second floor consisting of five individual bedrooms, each currently rented separately. The restaurant location has been in operation for over 20 years and the property offers multiple potential income sources. The asking price of $350,000 is for the real estate only. The restaurant business is available separately for $60,000, which includes two wall-mounted air conditioning units, commercial refrigerators and coolers, commercial range/stove, smoker, commercial exhaust hood and ventilation system, steam table, beverage dispensers, tables, chairs, plates, cups, silverware, and substantially all restaurant furniture, fixtures, and equipment currently used in the operation of the business. The restaurant business will not be sold separately unless the purchaser also purchases the real estate. The property currently has all licenses and permits necessary for its present operation. Eight gaming/amusement machines located on the premises are owned by a third-party vendor and are not included in the sale. The seller is willing to provide the purchaser with the vendor's contact information should the buyer wish to pursue a new agreement with that company. The five rental rooms are currently occupied. Current rents and leases will be made available to qualified buyers during the due diligence process. Buyer is responsible for independently verifying zoning, permitted uses, licensing requirements, occupancy, room rental regulations, measurements, and any intended future use of the property with the City of Reading and all applicable governmental authorities. Any proposed changes to the use of the property or modifications to the structure should be verified by the buyer prior to settlement. Showings are expected to begin next week. Contact the listing agent for additional information.
Listing Highlights
Status
Active
Days on Site
0
Property Type
Commercial Sale
MLS ®
PABK2074392
Year Built
1900
Total Square Footage
3,252
Lot/Acreage
0.03
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Wall Unit
- Heating: Radiator
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Zoning: MIX USE
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: On Street
Financial Details
- Tax Amount: $1,962
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2026
Payment Calculator
Monthly Payment
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- in Taxes
Years
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Questions About..
523 Bingaman St Reading, PA 19602
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