Jennifer M. Donathan of KW Commercial is excited to offer an excellent mixed use building consisting of retail with apartments. The retail tenants consist of a restaurant and a coffee shop both on long term leases set to expire in 2021. The two bedroom apartments have been completely updated and have been leased at market rents. The retail and apartment tenants pay their own gas and electric, landlord pays water and trash for all tenants. There is no common gas or electric. Each tenant has their own separate furnace and central air unit.
The property has 15 private parking spots and the lot is maintained by the City of Reading in exchange the public may park in some of the spots during the day.
The value add opportunity is in increasing the rents on the current retail tenants or leasing the space to new tenants at a higher rate. The apartments are an excellent candidate for Airbnb due to the amount of out-of-towners the local shops attract.