818 State St - Storefront Retail/Office FOR SALE


Erie, PA 16501
$1,995,000 USD
814-460-2000
818 State St, Erie, PA for Sale
$1,995,000 USD
Storefront Retail/Office - FOR SALE
1/32
null | 12.85% Cap Rate

818 State St
Erie, PA 16501


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

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.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$60 USD /SF

CAP RATE

12.85%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

4-Unit Investment Property w/ Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Storefront, Medical

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1949

SPRINKLERS

-

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

C-3

APN/PARCEL ID

16-030-005.0-203.00,16-030-005.0-204.00

ASK ABOUT THIS PROPERTY

Sherry BauerSBRE - Sherry Bauer Real Estate ServicesMore Info
814-460-2000

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Sherry BauerSBRE - Sherry Bauer Real Estate ServicesMore Info
814-460-2000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.