340 LOCUST ST new to site Save Request In-Person Tour Request Virtual Tour
Reading,PA 19604
Key Details
Property Type Commercial
Sub Type Special Purpose
Listing Status Active
Purchase Type For Sale
Square Footage 3,400 sqft
Price per Sqft $104
MLS Listing ID PABK2060534
Year Built 1890
Available Date 2025-07-28
Annual Tax Amount $2,815
Tax Year 2022
Lot Size 6,098 Sqft
Acres 0.14
Property Sub-Type Special Purpose
Source BRIGHT
Property Description
Excellent mixed-use investment opportunity at 340 Locust Street in Reading, PA, featuring 18 self-storage units, a well-maintained ±1,000 SF 3-bedroom house with a long-term tenant, and an adjacent vacant lot currently used for tenant parking. The site benefits from essential utilities including electric, water, and sewer, and offers an appealing blend of storage income and residential stability.
Current income stands at $34,170 with a net operating income (NOI) of $25,591.67, producing a 7.2% CAP rate. With improved lease-up and rent optimization, pro forma projections show income of $49,500 and NOI of $42,436.40, yielding a 12% CAP rate. The property's low overhead, dependable residential tenant, and multi-use potential make it an ideal option for both new and seasoned investors.
This site is part of a larger portfolio of over 500 self-storage units currently offered for sale, providing additional scale and upside across all locations.
Additional properties in the portfolio include:
826 Hampden – 17 units
824 Ritter – 13 units
511 Birch – 10 units
340 Locust – 18 units
333 Lombard – 34 units
1536 Haak – 36 units
625 N. 13th – 22 units
1128 Pike – 34 units
1200 N 9th Street – 66 units
306 N 13th Street – 1 unit
1541 Fairview – 8 units
635-R Weiser – 1 unit
521 S 16th Street – 10 units
328 Chestnut – 8 units
1214 Weimer – 10 units
741 Church – 12 units
330 Robeson - 1015 Rose – 96 units
364 Blair – 86 units
Location
State PA
County Berks
Area Reading City (10201)
Zoning R-3
Interior
Hot Water Natural Gas
Heating Radiant
Cooling None
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Reading
Others
Tax ID 09-5317-70-12-3216
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard