11,367 SF Former Drug Store - Across from St. Vincent Hospital Campus

Highlights:

• Directly across from Saint Vincent Hospital, a 428-bed facility that recently completed a $110 million renovation
• Rite Aid has occupied the site since 1998, reporting strong historical sales of approximately $13 million annually
• Tenant is currently in Chapter 11 bankruptcy; future tenancy at this location remains uncertain
• 11,367 SF building situated on 1.08 acres at a high-visibility, signalized corner intersection
• Zoned C-4 (Traditional Neighborhood Commercial) allowing for a broad range of commercial uses
• Prime location at the intersection of West 26th Street and Sassafras Street with combined traffic counts exceeding 18,000 VPD
• Multiple points of ingress/egress with strong visibility and signage
• Centrally located in the heart of downtown Erie, surrounded by a dense population and established infrastructure

Description:

.

Erie is a city on the south shore of Lake Erie and the county seat of Erie County, Pennsylvania,. Erie is the fifth largest city in Pennsylvania after Philadelphia, Pittsburgh, Allentown, and Reading, and the largest city in Northwestern Pennsylvania, with a population of 94,831 at the 2020 census. The Erie metropolitan area, equivalent to all of Erie County, consists of 266,096 residents. The Erie-Meadville combined statistical area had a population of 369,331 at the 2010 census.

Erie is equidistant from Buffalo and Cleveland, being about 100 miles away. Erie's manufacturing sector remains prominent in the local economy, though healthcare, higher education, technology, service industries, and tourism are emerging as significant economic drivers. Over four million people visit Erie each summer for recreation at Presque Isle State Park and attractions such as Waldameer Park and the Erie Zoo.

Over 10% of the USA's plastics are manufactured or finished in Erie-based plastics plants. Erie is an emerging center for biofuels and environmental research, producing over 45 million U.S. gallons of biofuel a year. Tourism plays an increasingly important role in the local economy with over 4 million people visiting Presque Isle State Park and other attractions. Shoppers from Ohio, New York, and the Canadian province of Ontario frequent the Millcreek Mall and Peach Street stores and attractions as a result of Pennsylvania's tax exemption on clothing.

Both UPMC Hamot and Saint Vincent Health System are also major employers in Erie. Although both of these hospitals had been stand-alone Erie entities, Hamot merged with the University of Pittsburgh Medical Center in 2011 and Saint Vincent, which affiliated with the Cleveland Clinic in 2012, merged with Highmark's Allegheny Health Network in 2013. The United States Department of Veterans Affairs operates the Erie Veterans Affairs Medical Center on East 38th Street. The Shriners International has operated Shriners Hospital for Children in Erie since 1927. Lake Erie College of Osteopathic Medicine (LECOM) is a fast-growing educator and provider of quality healthcare in the city.