4-Unit Investment Opportunity
$1,995,000
818 State Street, Erie, PA 16501
30,785 sqft
Building Size
0.436 acres
Lot Area
Details:
Highlights:
- 4-Unit Investment Property in Downtown Erie
- 30,785± SF Two-Story Commercial Building
- ADA Compliant with Elevator Service
- 32+ Space Private Parking Garage
- Wet Sprinkler System
- 24,328± SF Gross Leasable Area
- Dollar General Leases 12,805± SF First Floor
- 5,836± SF 2nd Floor Finished Office Space with 270± SF First Floor Lobby
- 3,297± SF Unfinished 1st Floor Space on W. 9th Street
- 2,120± SF Unfinished Second Floor Space
- Floor Plans & 3D Tours Available
- Situated on 2 Parcels Totaling 0.4356± Acres
- Zoned C-3, Central Commercial District
- 2024 Property Taxes: $29,207
- Proforma Total Income: $298,793
- Proforma Net Operating Income: $256,359
- Offered at a 12.9% Proforma Cap Rate
Description:
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 0.43± 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.
Western side of State Street at middle of block between W. 8th & W. 9th Streets by Dollar General. Frontage on both State & W. 9th Streets.
Documents:
| Title | ||
|---|---|---|
| FLYER-SALE--818_State_Street.pdf |
Location
Gallery
