Reading, PA · three parcels · six spaces · a 24-ft-high open hall · across from GoggleWorks
You’re not buying a warehouse. You’re buying the only platform on the block — one large flexible hub, six leasable spaces, build to suit, and a gated lot — directly across from a 145,000 sq ft arts campus that draws a quarter-million people a year.
11,761 sq ft of land · 75 ft of frontage on N. Third Street · gated lot at 131.
The 24-ft-high hall — the hub
3,642 sq ft on one open level plus a 196 sq ft mezzanine — exposed beams, 24 feet of clear height to the peak. The loft look without a second story · 91-occupant certificate of occupancy.
Six rentable spaces
9,528 sq ft at 123 (6,374 above grade, City-approved plans) + 1,500 sq ft at 129 · two floors previously leased at $31,200/yr, four more to put to work.
Across from GoggleWorks Art Center
145,000 sq ft arts campus · 250,000 visitors a year · new Thorn Alley Kitchen · Art Park Phase 1 complete, Phase 2 expected 2027.
Inside the CRIZ zone
All three parcels are in the zone · parcel inclusion filed by the owner · also a federal Opportunity Zone.
The numbers
$665,000 · about $84/sq ft (7,874 sq ft above grade, 123 + 129) · $3,455.69/yr taxes · $31,200/yr prior rent, two floors.
The property from above — three parcels
The corner — 123 / 129 / 131
GoggleWorks Art Park
Walk it in 40 seconds
Anyone can buy a building.
YOU’RE BUYING A PLATFORM.
One large flexible hub, six leasable spaces build to suit, and an outdoor lot is the physical shape of a platform — a place where many independent operators work as one unit and the owner earns five ways at once: base rent, a cut of each operator’s sales, in-house services like a bar or a kitchen, per-use fees, and the foot traffic the whole thing throws off that feeds every tenant.
The corridor is moving toward you right now. GoggleWorks’ new Thorn Alley Kitchen restaurant held its grand opening April 10, 2026. Phase 1 of the Art Park across the street is complete, and Phase 2 is expected to commence in 2027. Reading City Council and the Berks County Latino Chamber ran a downtown workshop titled “Empowering the Latino Entrepreneur” — the city pulling in the same direction you’d be walking.
The math is quiet and strong. Commercial space at about $84 a square foot of above-grade building (7,874 sq ft at 123 + 129). The two office floors previously leased for $31,200 a year (tenant paid utilities), and four more spaces sit ready to build out and lease. Property tax of $3,455.69 on all three parcels, about 36 cents a foot. And all three parcels sit inside Reading’s CRIZ revitalization zone, already filed.
Lancaster and Bethlehem both rode this arc. Reading is one block into it — and this is the corner across from the anchor.
Second-floor living room — the art
First-floor office
A decade of growth
+8.0%
population growth, 2010–2020 · fastest of Pennsylvania’s ten largest cities
4th
largest city in Pennsylvania · 95,112 residents (2020 Census)
+64%
median household income, 2014–2024 (+24% after inflation)
+80%
median home value, 2014–2024
13.7% → 8.0%
housing standing vacant, 2014 to 2024
141,000
people within 5 miles in neighborhoods earning $60,000+
Berks County reached 439,117 residents in 2024. The county’s comprehensive plan places 123 N. Third in its Existing Development area, where the plan calls for reinvestment, revitalization and compatible infill, and the City’s 2021 Downtown Strategic Plan names catalyst projects within a few blocks. Reading by the Numbers (one-page PDF, with sources)
US Census Bureau: 2010 and 2020 Census, 2024 estimates, American Community Survey 2014 and 2024. Five-mile figure is our calculation from 2024 tract data.
The numbers
$665,000
asking, all three parcels
~$84/sq ft
of above-grade building · 7,874 sq ft at 123 + 129
$31,200
prior rent, two of six floors
$3,455.69/yr
property tax, all 3 parcels
$150–200
cost per sq ft to build new
Net lease
tenant paid utilities + alarm
At about $84 a foot of above-grade building (123 and 129), this commercial building prices at a fraction of the $150 to $200 a foot it costs to build new. The price is the value — confirm it with your own appraisal.
One building, many businesses
Mercado · market floor + 131 vendor stallsEvent venue · the high hall + 131 beer gardenFood hall · stalls + 129 commissaryDistributor · storage + customer pickupMaker collective · studios + storefrontInvestor hold · the income play
What a buyer can save
Write it off faster
Illustrative: a design firm earning about $250,000 that buys all three parcels and spends $300,000 on an interior build-out could deduct roughly $77,000 in the purchase year and $270,000 in the build-out year with a cost segregation study and 100% bonus depreciation — versus under $20,000 a year on a standard 39-year schedule. Federal figures; Pennsylvania treats bonus depreciation differently.
LERTA property tax break
Reading can exempt the added property tax on eligible improvements for ten years — 100% the first year, stepping down 10% a year. On $300,000 of work: an estimated $10,000 from the City’s share, up to about $24,600 if Berks County and the Reading School District also approve.
Illustrative only, built from county assessment data and published cost segregation ranges. Confirm every figure with your own tax advisor.
The building in profile
Architect-drawn elevation — tap to enlarge. Full drawing set available to qualified buyers.
Walk up to it
The courtyard and yellow entranceThe lot at 131, with the 129 building
How the three parcels lay out
Schematic, not to scale — tap to enlarge. Architect plans available to qualified buyers.
Across the street: 250,000 visitors per year
GoggleWorks Center for the Arts — 145,000 sq ft campus. Thorn Alley Kitchen opened April 2026. Phase 1 of the GoggleWorks Art Park is complete, and Phase 2 is expected to commence in 2027.
The GoggleWorks entrance, steps awayThorn Alley, GoggleWorks’ outdoor diningInside a GoggleWorks gallery
Ask about the property
The location opens many options. Tell us which one interests you.
Thank you.
We have your inquiry, and David Telstar will reply personally.
Here are the terms and the material that fits the option you chose.
Terms. 123, 129 and 131 North Third Street, Reading, Pennsylvania. Asking price $665,000 for all three parcels. Ten percent deposit, non-refundable. 30-day due diligence period, for the buyer's own inspection; it is not a contingency, and the deposit is not refundable if the buyer does not proceed. 30-day closing. Sold as-is, where-is. Zoning, permitted use and any change of use are the buyer's own diligence, and all new uses require City zoning approval. Cooperating brokers: flat $10,000 at closing. These terms summarize the offering; the signed agreement of sale governs.
Sold as-is, where-is. The buyer performs their own due diligence under contract, including confirming occupancy classification and any zoning change of use for the business types shown above, 131's outdoor-use approval, and the replacement-cost estimate below with your own contractor. All figures from the seller's records and public records. Buyer to obtain its own appraisal. Offered directly by Urban Spaces LLC under Pennsylvania's owner exemption; this is not a broker listing.
