Storefront with Vacant
For Sale
$1,200,000
Pending
1 E High St, Union City, PA 16438
Signalized-corner property combines retail space, offices, restrooms, and a utility room.
Property Size7,038 SF
Lot Size0.42 Acres
Days on Market322
Property Features for 1 E High St
General Information
Standard status
Pending
Size
7,038 SF
Lot size
0.42 Acres
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$30,379
Building Details
Year Built
1983
Buildings
1
Listing Agency:
Agresti Real Estate - Meadville
(814) 823-9273
Listed By:
PJ Albrecht
(814) 823-9273
Source:
Exprealty
Added: Oct 7, 2025
Changed: Aug 21
Last Checked: Aug 23 at 3:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Agresti Real Estate - Meadville
Investment Insights
Based on property information with market context.
This 7,038± SF storefront property includes a substantial retail area supported by two separate office areas, two bathrooms, and a utility room. The building was constructed in 1983 and is accompanied by a vacant 0.42-acre parcel, providing additional land within the property offering. The former Rite Aid Pharmacy use is part of the property’s history.
The site occupies a signalized intersection in downtown Union City, where Route 6 (E High) meets Route 8 (Main). Its downtown setting, corner positioning, and combination of retail, office, and support areas create a straightforward commercial layout for continued retail or other compatible storefront-oriented use.
The site occupies a signalized intersection in downtown Union City, where Route 6 (E High) meets Route 8 (Main). Its downtown setting, corner positioning, and combination of retail, office, and support areas create a straightforward commercial layout for continued retail or other compatible storefront-oriented use.
Key Highlights
- 7,038± SF building constructed in 1983
- Large retail area with two office areas
- Two bathrooms and a utility room
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
$79,368
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
6.61%
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%
$1,587,360
$1.6M
Cap Rate 7%
$1,133,829
$1.1M
Cap Rate 9%
$881,867
$881.9K
Market Conditions
NOI Build-Up for 7,038 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
$126.7K $18.00/SF
− Vacancy
−$13.3K −$1.89/SF
EGI
$113.4K $16.11/SF
− OpEx
−$34.0K −$4.83/SF
NOI
$79.4K $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%
$1,587,360
Cap Rate 7%
$1,133,829
Cap Rate 9%
$881,867
Alternative Uses
Best Use
Retail
$1.13M
$992.1K – $1.32M
NOI $79,368 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,225 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
53k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 35%
Groceries 23%
Home Improvements & Furnishings 4%
Country Fair
Shops & Services
18,590 visits/mo
0.1 miles
McDonald's
Dining
17,217 visits/mo
0.1 miles
Tops Friendly Markets
Groceries
9,329 visits/mo
0.1 miles
Fine Wine & Good Spirits
Groceries
2,788 visits/mo
0.1 miles
H&W Ace Hardware LLC
Home Improvements & Furnishings
2,245 visits/mo
0.1 miles
Demographics for 16438, PA
7,504
Population
4,146
Households
1.8
Avg Household Size
44
Median Age
17%
College-Educated
90%
High-School Grad
102.4 sq mi
ZIP Area
73
Density / Sq Mi
$60,559
Median Household Income
$35,208
Median Earnings
$743
Median Rent
$134,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Signalized-corner property combines retail space, offices, restrooms, and a utility room.
Where is this storefront property located?
The property is located at 1 E High St Union City, 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: 7,038± SF building constructed in 1983; Large retail area with two office areas; Two bathrooms and a utility room
