328 CHESTNUT ST new to site Save Request In-Person Tour Request Virtual Tour
Reading,PA 19602
Key Details
Property Type Commercial
Sub Type Special Purpose
Listing Status Active
Purchase Type For Sale
Square Footage 1,100 sqft
Price per Sqft $136
MLS Listing ID PABK2060554
Year Built 1900
Available Date 2025-07-28
Annual Tax Amount $551
Tax Year 2024
Lot Size 1,742 Sqft
Acres 0.04
Property Sub-Type Special Purpose
Source BRIGHT
Property Description
328 Chestnut Street, Reading PA offers 8 self-storage units, each sized at 9x20 with one double unit, providing tenants with generous and functional space. The property benefits from newer doors and a recently updated roof, reducing near-term capital expenditure and appealing to long-term renters seeking secure, well-maintained storage solutions.
Current income stands at $13,912 with a net operating income (NOI) of $10,592.74, reflecting a current CAP rate of 7%. Under pro forma projections, income reaches $17,000 and NOI improves to $13,600, yielding a pro forma CAP rate of 9%. This low-maintenance asset presents an ideal opportunity for investors targeting strong cash flow and stable occupancy.
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 None
Heating None
Cooling None
Heat Source None
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer No Sewer System
Water None
New Construction N
Schools
School District Reading
Others
Tax ID 05-5306-26-78-0948
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard