818 State St, Erie, PA 16501
33,066 SF | 53% Leased | Retail Building | Erie, PA 16501 | $1,995,000 ($60/SF) | 12.85% Cap Rate
For Sale
Active
Asking Price $1,995,000
- Property Type
-
Retail
- Square Feet
- 33,066 SF
- Price / Square Foot
- $60
Listing Contacts
- Property Info
Property Overview
4-Unit investment property in the heart of downtown Erie. 30,785± SF building, ADA compliant with elevator service, 32+ space private parking garage & wet sprinkler system. 24,328± SF gross leasable area. Dollar General occupies 12,805± SF first floor. 5,836± SF second floor finished office space with 270± SF first floor lobby. Ready to develop 3,297± SF first floor space facing W. 9th Street & 2,120± SF second floor space. Floor plans & 3D tours available. Situated on 2 parcels totaling 0.44± acres zoned C-3, Central Commercial District. 2024 property taxes: $29,207. Proforma income: $298,793. Proforma NOI: $256,359. Offered at 12.9% proforma cap rate. Floor plans available for unfinished first floor space & second floor. Contact broker for additional information.
Property Details
- Class
- C
- Year Built/Renovated
- 1949/1996
- Stories
- 2
- Property Subtype
- Storefront Retail/Office, Storefront, Medical
- Lot Size (sq. ft)
- 19,166 SF
Highlights
- 4-Unit NNN Investment Property in Downtown Erie
- 30,785±SF Two-Story Commercial Building
- ADA Compliant with Elevator Service & 32+ Space Parking Garage
- Dollar General Leases 12,805± SF First Floor
- 5,836± SF 2nd Floor Finished Office Space with 270±SF 1st Floor Lobby
- Proforma NOI $256,359 - Offered at 12.9% Proforma Cap Rate
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