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1001-03 Parade St Erie, PA 16503

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For Sale
$349,900

Historic Charm, High-Yield Investment

Property size:
6,560 SF

Property Features for 1001-03 Parade St

General Information

Property type
Other commercial real estate
Square Feet
6,560 SF
Lot Size
3,485 SF

Building Details

Year Built
1890

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Listing Contact
Max Rankin

Listing Agency: RE/MAX Lakeland Realty Listing Agent: Max Rankin

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

This exceptional 6,560 square foot commercial building presents a rare investment opportunity in Erie, PA. Located on the prominent northeast corner of 10th and Parade Streets, this beautiful brick structure boasts excellent street visibility and high traffic exposure. The property comprises six rental units, mostly occupied by long-term tenants, providing immediate and consistent cash flow. Recent upgrades include a new metal roof (2022) and a complete electrical service replacement, enhancing both efficiency and longevity. Many windows have also been replaced. The building's historic charm is complemented by modern updates, creating a desirable blend of character and functionality. A substantial, clear basement and a large walk-up attic offer significant potential for expansion and future development. Individual utility metering for each unit simplifies management and optimizes cost allocation. While the liquor license is not included in the sale price of $349,900, it is available for separate negotiation under specific conditions. This well-maintained property, situated on a 0.08-acre lot, represents a solid investment with strong potential for both rental income and future appreciation. Low current rents offer room for future increases.
Property Profile Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
Erie
County
Erie
State
Pennsylvania
Longitude
-80.07373
Latitude
42.1286

FAQs

What type of property is this?
Commercial real estate - Historic Charm, High-Yield Investment
Where is this commercial real estate located?
The property is located at 1001-03 Parade St Erie, PA.
What is the asking price?
The asking price for this property is $349,900.
More about this property
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