Auto Shop Building with
For Sale
$215,000
Pending
2527 EAST Avenue, Erie, PA 16503
COMMERCIAL - Erie, PA
Property Size1,740 SF
Lot Size0.29 Acres
Days on Market149
Property Features for 2527 EAST Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-1
Parking
25
Exterior features
Fence
Fencing
Fenced
Lot features
Mineral Rights
Elementary school district
City-Erie
Middle school district
City-Erie
High school district
City-Erie
Directions
Corner of 26th & East Ave
Subdivision
4 - Erie Southeast
Standard status
Pending
APN
18-050-042.0-124.00
Size
1,740 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4333
Expense value
5000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1964
Building materials
Masonry
Listing Agency:
Coldwell Banker Select - Airport · Coldwell Banker Real Estate
(814) 838-2299
Listed By:
Rose Nouri · License #RS211308L
(814) 873-6262
Added: Mar 18
Changed: Aug 7
Last Checked: Aug 13 at 7:06AM
MLS# 190019
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.
Investment Insights
Based on property information with market context.
Auto shop building on a fenced lot in Erie, Pennsylvania, with masonry construction and central air conditioning. The property includes natural gas forced-air heating, public water, and public sewer service, supporting day-to-day automotive repair and sales operations. Built in 1964, the building also features equipment including a lift and a compressor.
The site is listed at 0.289 acres with a total property size of 1,740 square feet. Exterior features include fencing, which supports secure vehicle and equipment storage.
This is an automotive-focused facility configured for service and related uses, with mechanical systems already in place for year-round comfort.
The site is listed at 0.289 acres with a total property size of 1,740 square feet. Exterior features include fencing, which supports secure vehicle and equipment storage.
This is an automotive-focused facility configured for service and related uses, with mechanical systems already in place for year-round comfort.
Key Highlights
- Lift and compressor included for automotive service
- 0.289‑acre fenced lot
- 1,740 SF auto shop building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,622
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$392,440
$392.4K
Cap Rate 7%
$280,314
$280.3K
Cap Rate 9%
$218,022
$218.0K
Market Conditions
NOI Build-Up for 1,740 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.3K $18.00/SF
− Vacancy
−$3.3K −$1.89/SF
EGI
$28.0K $16.11/SF
− OpEx
−$8.4K −$4.83/SF
NOI
$19.6K $11.28/SF
Area
Erie County, PA
Vacancy
10.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$392,440
Cap Rate 7%
$280,314
Cap Rate 9%
$218,022
Alternative Uses
Best Use
Retail
$280.3K
$245.3K – $327.0K
NOI $19,622 @ 7.0% cap · market cap 9.13%
Second Best
Industrial
$153.7K
$134.5K – $179.4K
NOI $10,761 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$431.7K
$377.7K – $503.6K
NOI $30,218 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
53k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 36%
Home Improvements & Furnishings 2%
McDonald's
Dining
22,095 visits/mo
0.5 miles
Country Fair
Shops & Services
11,436 visits/mo
0.0 miles
Burger King
Dining
10,219 visits/mo
0.5 miles
Dollar Tree
Shops & Services
7,181 visits/mo
0.1 miles
A. Duchini Ace Hardware
Home Improvements & Furnishings
1,187 visits/mo
0.4 miles
Demographics for 16503, PA
15,328
Population
6,375
Households
2.4
Avg Household Size
33
Median Age
12%
College-Educated
76%
High-School Grad
2.4 sq mi
ZIP Area
6,387
Density / Sq Mi
$29,108
Median Household Income
$25,679
Median Earnings
$837
Median Rent
$55,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Nolan's Pine Avenue Auto Service LLC — 3626 Pine Ave, Erie, PA 16504
- Althof Auto Sales & Service — 2720 Parade St, Erie, PA 16504
- Cratty Tire Services — 3414 Pine Ave, Erie, PA 16504
- Valvoline Express Care — 2815 Old French Rd, Erie, PA 16504
- Extra Value Towing and Roadside Ltd — 3835 Lake Pleasant Rd, Erie, PA 16504
Frequently Asked Questions
What type of property is this?
Auto shop - Auto shop building with central air and forced-air natural gas heat, plus lift and compressor equipment.
Where is this auto shop located?
The property is located at 2527 EAST Avenue Erie, PA.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Lift and compressor included for automotive service; 0.289‑acre fenced lot; 1,740 SF auto shop building
