Mixed-Use Property with Multiple
3214 W 8TH Street Erie, PA 16505
For Sale
$1,200,000
MULTI_FAMILY - Erie, PA
Property Size6,486 SF
Lot Size0.98 Acres
Price / SF$185.01
Days on Market364
Property Features for 3214 W 8TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Rooms
Bedroom 5, Bedroom 7, Bathroom 1, Bedroom 8, Bedroom 2, Bathroom 3, Bedroom 6, Bathroom 4, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 1
Standard status
Active
APN
33-017-019.0-145.00
Size
6,486 SF
Lot size
0.98 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4018
Expense value
10000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1940
Number of units
3
Building materials
Mixed
Roof type
Asphalt
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Bob List · License #RS367057
(814) 504-8087
Added: Jul 30, 2025
Changed: Jul 24
Last Checked: Jul 28 at 5:06AM
MLS# 187149
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 offers multiple income-producing components, including five fully rented commercial units in the main building. Above the commercial space is a spacious 2-bedroom loft apartment, and there is also a separate 4-bedroom single-family home and a 2-bedroom mobile home. Long-term tenants are in place across these units.
The property includes a large storage lot, multiple garages, and additional storage units, supporting both current revenue and flexible use for future needs.
Located at 3214 W 8TH Street in Erie, Pennsylvania, the asset combines commercial and residential rental streams with on-site storage amenities.
The property includes a large storage lot, multiple garages, and additional storage units, supporting both current revenue and flexible use for future needs.
Located at 3214 W 8TH Street in Erie, Pennsylvania, the asset combines commercial and residential rental streams with on-site storage amenities.
Key Highlights
- Mixed‑use property built in 1940 with public water and public sewer
- Includes five fully rented commercial units with long‑term tenants
- 2‑bedroom loft apartment above the main building with long‑term tenants
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 | $116.7k | $18.00 |
| − Vacancy | −$12.3k | −$1.89 |
| EGI | $104.5k | $16.11 |
| − OpEx | −$31.3k | −$4.83 |
| NOI | $73.1k | $11.28 |
6,486 SF · lease $18.00/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.04M
$914.3K – $1.22M
NOI $73,143 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$569.5K
$498.3K – $664.4K
NOI $39,862 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,638 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Storefront property - Mixed-use building in Erie includes five rented commercial units, a loft apartment, a single-family home, and additional storage.
Where is this storefront property located?
The property is located at 3214 W 8TH Street Erie, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Mixed‑use property built in 1940 with public water and public sewer; Includes five fully rented commercial units with long‑term tenants; 2‑bedroom loft apartment above the main building with long‑term tenants
