4431 Peach St Erie, PA 16509-1317

Property Details for 4431 Peach St

Year built

2016

Lot size

0.66 lot acres

Property size

7,000 SF

Zone code

C3

Property type

Retail space

APN

18-053-001.0-110.00

APU

18053001011000

Description

This exceptional investment opportunity presents a 7,000 square foot O'Reilly Auto Parts retail building in Erie, Pennsylvania. The property boasts a strong 6.00% cap rate, a substantial net lease with over 12 years remaining until expiration (December 31, 2036), and minimal landlord responsibilities. Built in 2016, the property requires no deferred maintenance. The lease includes 6% rental increases in year 11 and each option period, ensuring consistent income growth. Strategically located at the signalized intersection of Peach Street and Miller Avenue, the property benefits from high visibility and significant daily traffic (23,899 vehicles). The tenant, O'Reilly Auto Parts, is an investment-grade credit tenant (BBB rating by Standard & Poor's), providing security and stability. The property's prime location is surrounded by national retailers such as McDonald's, Walgreens, and Citizens Bank, and is within close proximity to major shopping centers including Millcreek Mall and Peach Street Marketplace. Furthermore, its convenient access to Interstates 79 and 90 provides excellent regional connectivity. The densely populated area offers a strong demographic profile, with over 13,000 people within a 1-mile radius, over 95,000 within 3 miles, and over 151,000 within 5 miles, ensuring a robust customer base. The asking price is $1,700,000, representing a price per square foot of $242.86 and a net operating income (NOI) of $101,905. The 0.66-acre lot provides ample space for the building and potential future expansion. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with a long-term, secure lease.