Description
Business opportunity! This property is more than what you can see from the street, or the sky... for one thing, it's already approved by Reading city zoning board for use as a climate controlled self storage business with projected 324 units in 12,375 SF of rentable space! (add an additional 2000 net rentable space by including 226 Moss St in the site plan)Yes, you will start by razing the property, followed by construction... and end up with projected Net Operating Income of over $92,000 in the second year, climbing to over $179,000 in the fourth year! (debt service TBD) This neighborhood property is full of potential, it includes 226 Moss St ( a 1700 sf, partially restored house with a two story garage) and 228 Moss St (a 90' x 90' three story warehouse with a court yard and street access on three sides). R3 Zoning allows for possible conversions... bring your ideas and your architect and be a part of revitalizing this part of Reading!Showings limited due to dangerous conditions, Yep, you will need to sign a waiver! Ask your agent for proposed renderings, zoning hearing results, and projected income as well as the study done to back up those projections. (this is a real project, with real income at the end of four years... )
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Description
Business opportunity! This property is more than what you can see from the street, or the sky... for one thing, it's already approved by Reading city zoning board for use as a climate controlled self storage business with projected 324 units in 12,375 SF of rentable space! (add an additional 2000 net rentable space by including 226 Moss St in the site plan)Yes, you will start by razing the property, followed by construction... and end up with projected Net Operating Income of over $92,000 in the second year, climbing to over $179,000 in the fourth year! (debt service TBD) This neighborhood property is full of potential, it includes 226 Moss St ( a 1700 sf, partially restored house with a two story garage) and 228 Moss St (a 90' x 90' three story warehouse with a court yard and street access on three sides). R3 Zoning allows for possible conversions... bring your ideas and your architect and be a part of revitalizing this part of Reading!Showings limited due to dangerous conditions, Yep, you will need to sign a waiver! Ask your agent for proposed renderings, zoning hearing results, and projected income as well as the study done to back up those projections. (this is a real project, with real income at the end of four years... )
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