503 Penn St, Reading, PA 19601

Property Description

Positioned prominently in the heart of Reading’s Commercial Core District, this building offers investors a unique opportunity to own a substantial, multi-level commercial property with flexible space and multiple potential uses. The building was remodeled approximately 10 years ago, updating the property for modern commercial uses while retaining many of its distinctive architectural features, like exposed brick walls. Its location within the Penn Square Overlay and Callowhill Historic Districts adds to its prominence and character. The first and second floors are leased to a tenant currently completing a dining concept. The second floor is incorporated into the lease and features an open seating area, balcony overlooking the first floor, and an appealing connection between the two levels. The third and fourth floors provide significant additional flex space, offering an investor the opportunity to accommodate office users, professional services, creative businesses, or other commercial uses. Each floor features an open layout, kitchenette, and dedicated HVAC system, providing flexibility for future leasing or owner-user possibilities. The fourth floor also features a large skylight that brings abundant natural light into the space. Large front windows provide excellent natural light and expansive views of downtown Reading and the surrounding area, creating an attractive environment for tenants and their customers. An elevator serves all five floors, providing convenient access throughout the building. The basement adds substantial utility with two distinctive bathrooms, extensive storage, mechanical areas, electrical panels, and the HVAC equipment serving the first- and second-floor tenant. A sprinkler system provides protection throughout the building. With an existing income-producing tenant, substantial additional space, flexible floor plans, elevator service, and a prominent downtown location, the Weidenhammer Building presents an opportunity for an investor looking to acquire a distinctive commercial property with multiple avenues for future leasing and value creation.