Live-Work Mixed-Use
3124 CHERRY Street Erie, PA 16508
3124 CHERRY Street, Erie, PA, 16508
$359,900
For Sale
$359,900
COMMERCIAL - Erie, PA
Property Size2,812 SF
Lot Size0.33 Acres
Price / SF$127.99
Days on Market17
Property Features for 3124 CHERRY Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R-1A
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1
- Parking
- 15
- Exterior features
- Fence
- Fencing
- Fenced
- Standard status
- Active
- APN
- 19-060-044.0-100.00
- Size
- 2,812 SF
- Lot size
- 0.33 Acres
Taxes and HOA fees
- Tax Year
- 2026
- 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
- 1949
- Building materials
- VinylSiding
Listing Agency
Agresti Real Estate
(814) 459-9400
2635 W 26th Street, Erie, PA
Listed by
Jake Scheloske · License #RS318016
(814) 449-7973
Added: Jul 2 Checked: Jul 18 at 11:06 pm
MLS# 191796
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.
This mixed-use property combines a commercial/retail unit with a separate residential unit under one roof. The commercial portion was formerly used for Scolio Fruit Baskets and is designed for flexible business use, with three exterior signage locations. Additional site improvements include ample on-site parking for customers and employees, a fenced lot, and an attached two-car garage that can support storage or workspace needs. The residential unit includes one bedroom, a full kitchen, a living room, a full bathroom, and a private entrance, allowing business and living spaces to function separately.
Located at 3124 CHERRY Street in Erie, Pennsylvania (16508), the property is listed for sale as a combined commercial and residential opportunity. It is set on a 0.33-acre lot and totals 2,812 square feet, with zoning identified as R-1A.
For buyers looking for a live-work setup, the layout supports operating a business while maintaining an independent, comfortable living space. The separate entrances and dedicated signage options help keep customer-facing activity distinct from residential access, while the fenced lot and on-site parking support day-to-day convenience for employees and visitors.
Located at 3124 CHERRY Street in Erie, Pennsylvania (16508), the property is listed for sale as a combined commercial and residential opportunity. It is set on a 0.33-acre lot and totals 2,812 square feet, with zoning identified as R-1A.
For buyers looking for a live-work setup, the layout supports operating a business while maintaining an independent, comfortable living space. The separate entrances and dedicated signage options help keep customer-facing activity distinct from residential access, while the fenced lot and on-site parking support day-to-day convenience for employees and visitors.
Key Highlights
- Mixed‑use property with a commercial/retail unit plus a separate 1‑bedroom residential unit
- Residential unit has a private entrance, full kitchen, living room, and full bathroom
- Attached 2‑car garage provides extra storage or workspace
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.6k | $18.00 |
| − Vacancy | −$5.3k | −$1.89 |
| EGI | $45.3k | $16.11 |
| − OpEx | −$13.6k | −$4.83 |
| NOI | $31.7k | $11.28 |
2,812 SF · lease $18.00/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$526.1K
$460.3K – $613.8K
NOI $36,826 @ 7.0% cap · market cap 10.23%
Second Best
Retail
$453.0K
$396.4K – $528.5K
NOI $31,711 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$697.6K
$610.4K – $813.9K
NOI $48,834 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Live-work space
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Mixed commercial and one-bedroom residential unit with private entrance, signage, and on-site parking for convenient operations.
Where is this live-work space located?
The property is located at 3124 CHERRY Street Erie, PA.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Mixed‑use property with a commercial/retail unit plus a separate 1‑bedroom residential unit; Residential unit has a private entrance, full kitchen, living room, and full bathroom; Attached 2‑car garage provides extra storage or workspace
