College Plaza
$1,625,000
2018-2036 E 38th Street, Erie, PA 16510
19,868 sqft
Building Size
2.18 acres
Lot Area
Details:
Description:
Own College Plaza, a 7-unit strip plaza near Mercyhurst University with immense upside potential. 19,868± SF center with 19,400± SF rentable area. Built in 1987 with public utilities. Situated on 2.182± acre corner lot along public bus route with curb cuts from both streets. 288’ Frontage along E. 38th Street with 15,000 average daily traffic (PennDOT - 2023 count year) & 330’ frontage along McCain Avenue. 129± parking spaces in private lot. Tenant mix includes Dollar Tree, On The Avenue Salon, Sun Capsule (tanning salon) & Jade Garden (Chinese restaurant). Within 1 mile of major retailers: Taco Bell, Dollar General, Tops Friendly Markets, McDonalds, Walmart, Marco’s Pizza, Subway, Cost Cutters, Widget Financial & more. Zoned C-1, Local Commercial District (City of Erie), offering many potential uses: office, retail, restaurant, fitness center, pet grooming & more. 87.6% Occupancy. $175,772 Pro-forma NOI – offered At 10.8% pro-forma cap rate. Contact the listing broker for additional information.
North side of E. 38th Street at McCain Avenue between Zimmerman Road & the Bayfront Connector (Route 290).
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