Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2223 State St Erie, PA 16502

    Sponsored
    For Sale
    $360,000

    COMMERCIAL - Erie, PA

    Property size:
    1,124 SF
    Lot size:
    0.15 Acres
    Days on Market:
    19
    Last Refresh:
    Jan 27 at 1:06 pm

    Property Features for 2223 State St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    18-050-002.0-222.00
    Size
    1,124 SF
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Expense value
    4000
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Building Details

    Building materials
    Block, VinylSiding

    We can help!

    Listing Contact
    Behar Hoxha

    Agresti Real Estate (814) 459-9400

    Listing agent Behar Hoxha (814) 737-2457 License #RS338608

    Listing date Jan 9, 2026

    MLS# 189272

    Copyright © 2026 Greater Erie Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Erie Auto Shop For Sale

    This highly visible corner property in Erie, PA, is a fully equipped mechanic shop, with the business and tools included. The property features office space and ample parking. The site has approximately 40 feet of frontage on State Street and 165 feet on E. 23rd Street. The property is currently configured for automotive use and is ready for immediate operation. The lot size is 0.152 acres and the building size is 1,124 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    state auto service ... Auto Repair Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Dave Hallman Hyundai Service Department, Erie Mobile Mechanics, state auto service and sales, Mirza Auto Service, Paris Auto Repair

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.075476
    Latitude
    42.114892

    Nearby Similar for Sale

    • $899,900
      17,200 SF

      Turnkey Erie Entertainment Destination

      Fully operational bowling alley, bar, and restaurant for sale.
      3729 Mcclelland Ave, Erie, PA 16510
      View Details
    • $899,900
      17,200 SF

      Turnkey Erie Entertainment Destination

      Fully operational bowling alley, bar, and restaurant in Erie, PA.
      3729 Mcclelland Ave, Erie, PA 16510
      View Details
    • $425,000
      6,800 SF

      Route 5 Commercial Property

      Commercial property with multiple income streams in Millcreek Township.
      4845 W Lake Rd, Erie, PA 16505
      View Details
    • $425,000
      6,800 SF

      Erie Commercial Property on Route 5

      Prime commercial property on Route 5 with income-producing units.
      4845 W Lake Rd, Erie, PA 16505
      View Details
    • New
      $1,599,900
      3,232 SF

      Turnkey Golf Course and Restaurant

      182+ acre golf course and restaurant with lake views.
      3730 Harbor Ridge Trl, Erie, PA 16510
      View Details
    • $3,799,900
      Pending

      72-Unit Investment Portfolio in Erie

      Cash-flowing investment opportunity with high cap rate and cash return.
      72 Unit Investment Package, Erie, PA 16502
      View Details
    • $119,900
      1,656 SF

      Erie Two-Unit Residential Property

      Well-maintained two-unit property with long-term tenants and off-street parking.
      1314 E 35Th St, Erie, PA 16504
      View Details
    • New
      $599,900
      5,906 SF

      Remodeled Restaurant, Bar, and Apartment

      Remodeled restaurant, bar, and apartment near Waldameer and Presque Isle.
      3040 W Lake Rd, Erie, PA 16505
      View Details
    • New
      $599,900
      5,906 SF

      Remodeled Restaurant and Bar

      Remodeled restaurant, bar, and apartment near Presque Isle.
      3040 W Lake Rd, Erie, PA 16505
      View Details
    • $95,000
      2,376 SF

      Erie Investment Opportunity: Duplex

      Two 3-bedroom units, off-street parking, convenient location.
      549 E 12Th St, Erie, PA 16503
      View Details
    • $400,000
      4,874 SF

      Restaurant and Apartment in Erie

      Restaurant with apartment, fully equipped, remodeled, near Kahkwa Club.
      6116 Swanville Rd, Erie, PA 16506
      View Details
    • $400,000
      4,874 SF

      Restaurant and Apartment in Erie

      Restaurant with apartment and game room near Kahkwa Club.
      6116 Swanville Rd, Erie, PA 16506
      View Details

    FAQs

    What type of property is this?
    Auto shop - Turnkey mechanic shop with business and tools included, ample parking.
    Where is this auto shop located?
    The property is located at 2223 State St Erie, PA.
    What is the asking price?
    The asking price for this property is $360,000.
    What are key features of this property?
    This property features: - Fully equipped mechanic shop with business and tools included - a turnkey operation.; - Highly visible corner property with frontage on State St. and E. 23rd St.; - Ample parking.
    (814) 737-2457
    Request Owner's contact information
    2223 State St Erie, PA 16502
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2223 State St
    Erie, PA 16502
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2223 State St Erie, PA 16502
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Behar Hoxha
    Real Estate License ID: RS338608
    (814) 737-2457
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.