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Office Medical

301 Penn Avenue

301 Penn Ave, West Reading, PA 19611

Listing Price: $2,800,000

Cap Rate
6.18%
Rentable SF
10,000
Occupancy
100.0%
Year Built
1965
Lot Size
0.75 acres

Investment Overview

The Dunkle-Vartanian Group at Marcus & Millichap is pleased to present to qualified buyers the opportunity to acquire a medical office building located at 301 Penn Ave, West Reading 19611. The subject property is a two tenant medical office building with 10,000 SF of rentable space. It’s currently partially occupied by medical tenant, Chesen Laser Eye Care with 8 years remaining on term. The anchor tenant currently occupies 5,000 SF of the building, and sublets the remaining area to another tenant on an absolute net lease with a 2% annual rent increase. Conveniently located on Penn Avenue with over 33,900 VPD, the office building offers 40 off-street parking spaces for tenants. The subject property is close proximity to Route 422 and is on a major roadway that connects numerous local towns within Reading, PA making it ideal for tenants with high traffic businesses.

Investment Highlights

  • Annual 2% rent increases.
  • Medical anchor tenant with 8 years remaining on lease.
  • Triple Net Lease - zero landlord responsibility.

Exclusively Listed By

Financing By

Office Medical

301 Penn Avenue

Listing Price: $2,800,000

Cap Rate
6.18%
Rentable SF
10,000
Occupancy
100.0%
Year Built
1965
Lot Size
0.75 acres

Investment Highlights

  • Annual 2% rent increases.
  • Medical anchor tenant with 8 years remaining on lease.
  • Triple Net Lease - zero landlord responsibility.

Investment Overview

The Dunkle-Vartanian Group at Marcus & Millichap is pleased to present to qualified buyers the opportunity to acquire a medical office building located at 301 Penn Ave, West Reading 19611. The subject property is a two tenant medical office building with 10,000 SF of rentable space. It’s currently partially occupied by medical tenant, Chesen Laser Eye Care with 8 years remaining on term. The anchor tenant currently occupies 5,000 SF of the building, and sublets the remaining area to another tenant on an absolute net lease with a 2% annual rent increase. Conveniently located on Penn Avenue with over 33,900 VPD, the office building offers 40 off-street parking spaces for tenants. The subject property is close proximity to Route 422 and is on a major roadway that connects numerous local towns within Reading, PA making it ideal for tenants with high traffic businesses.

Exclusively Listed By

Financing By

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