137 W 2nd St - Specialty FOR SALE
Erie, PA 16507 |
$6,511,000 USD
424-220-7244
137 W 2nd St
Erie, PA 16507
HIGHLIGHTS
- Commonwealth of Pennsylvania, Department of Corrections has a AA credit rating from Fitch and Aa3 credit rating from Moody’s.
- The tenant has operated at this facility for over 20 years and recently signed a long-term 15-year lease extension showing their strong commitment
- 2.50% annual rent increases provide a great hedge against inflation.
- UPMC Hamot Medical Center leased and maintains a majority portion of the parking lot since 2004 and recently extended their lease through 2029.
- The landlord receives income from laundry services at the property
- Bureau of Community Corrections (BCC) was established in the early 1970s to operate community corrections centers for actively serving inmates
FOR SALE DETAILS
PRICE
$6,511,000 USD
PRICE/SF
$145 USD /SF
CAP RATE
7.66%
% LEASED
-
TENANCY
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
ERIE COMMUNITY CORRECTIONS CENTER
PROPERTY TYPE
Specialty
TOTAL BUILDING SIZE
-
STORIES
3
BUILDING CLASS
C
YEAR BUILT
1972
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
1.42 AC
LAND SF
62,003 SF
ZONING
-
APN/PARCEL ID
17-040-006.0-212.00
ASK ABOUT THIS PROPERTY
Please correct the highlighted field(s).
424-220-7244
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
Please correct the highlighted field(s).
424-220-7244
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
