Mixed-Use Investment
1029 31 EAST Avenue Erie, PA 16503
For Sale
$329,900
COMMERCIAL - Erie, PA
Property Size7,667 SF
Lot Size0.11 Acres
Price / SF$43.03
Days on Market115
Property Features for 1029 31 EAST Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
APN
15-020-046.0-225.00
Size
7,667 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2967
Expense value
10000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1909
Building materials
Mixed
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Stephen Chiz · License #RS362944
(814) 882-3989
Added: Apr 6
Changed: Jul 8
Last Checked: Jul 29 at 3:06PM
MLS# 190253
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 fully leased mixed-use property combines two storefronts with six residential units, made up of four one-bedroom apartments and two efficiency units. The configuration supports a diversified tenant mix under one roof. In addition, a 30' x 40' warehouse adds practical space for storage, owner use, or potential additional rental opportunities depending on how the space is operated.
The property sits in a commercial zoning district on a prominent corner, providing strong presence for the storefront component. The listing notes convenient access to major roadways and public transportation, supporting day-to-day accessibility for retail tenants and residents.
For buyers seeking a stabilized asset, the property is presented as producing income with reported performance metrics including a 12% cap rate, 31% cash-on-cash, and a 1.99 debt coverage ratio. With both commercial frontage and residential units, it may appeal to owners looking to balance income streams while maintaining occupancy across multiple unit types. The combination of storefront retail space, apartment living, and warehouse space can also be attractive to an operator who wants one consolidated property to manage rather than multiple separate buildings.
The property sits in a commercial zoning district on a prominent corner, providing strong presence for the storefront component. The listing notes convenient access to major roadways and public transportation, supporting day-to-day accessibility for retail tenants and residents.
For buyers seeking a stabilized asset, the property is presented as producing income with reported performance metrics including a 12% cap rate, 31% cash-on-cash, and a 1.99 debt coverage ratio. With both commercial frontage and residential units, it may appeal to owners looking to balance income streams while maintaining occupancy across multiple unit types. The combination of storefront retail space, apartment living, and warehouse space can also be attractive to an operator who wants one consolidated property to manage rather than multiple separate buildings.
Key Highlights
- Fully leased mixed‑use property built in 1909 with public water and public sewer
- Income mix includes two storefronts and six residential units: four 1‑bedroom and two efficiency units
- Additional 30' x 40' warehouse on‑site for extra rental income, storage, or owner use
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased mixed-use building with two storefronts, six apartments, and an on-site warehouse for flexible income and use.
Where is this mixed-use property located?
The property is located at 1029 31 EAST Avenue Erie, PA.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Fully leased mixed‑use property built in 1909 with public water and public sewer; Income mix includes two storefronts and six residential units: four 1‑bedroom and two efficiency units; Additional 30' x 40' warehouse on‑site for extra rental income, storage, or owner use
