NNN Industrial
New
For Sale
$975,000
151 E 10th St, Erie, PA 16501
The occupied property combines warehouse and climate-controlled office space with a fenced, paved yard.
Property Size9,519 SF
Lot Size0.28 Acres
Price / SF$102.43
Days on Market4
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Property Features for 151 E 10th St
General Information
Standard status
Active
Size
9,519 SF
Lot size
0.28 Acres
Zoning
C-3
Occupancy
100%
Net Operating Income
$76,505
Financials
Asking Price
$975,000
Cap Rate
7.85%
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
14.6 ft
Warehouse Space
7,652 SF
Office Build-Out
1,611 SF
Drive-In Doors
3
Taxes and HOA fees
Annual Taxes
$12,738
Building Details
Buildings
1
Building Size
9,519 SF
Tenancy
Single
Listing Agency:
SBRE - Sherry Bauer Real Estate Services
(814) 453-2000
Listed By:
Sherry Bauer · License #RM422666
(814) 460-2000
Source:
Exprealty
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 15 at 2:39AM
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 SBRE - Sherry Bauer Real Estate Services
Investment Insights
Based on property information with market context.
This 9,519-square-foot industrial building spans two parcels totaling 0.281 acres and is zoned C-3. Its layout includes warehouse and office areas, with 7,652 square feet of heated warehouse space, 14-foot-7-inch clear ceilings, and three overhead drive-in doors configured for drive-through access. The 1,611-square-foot office section is climate-controlled. The site also has a fully fenced, paved yard and off-street parking.
Sargent Electric occupies the building under a NNN lease with three years remaining and three one-year renewal options. A separate billboard lease has two years remaining and renews year to year, subject to a 60-day nonrenewal notice. The property is in downtown Erie, with access to I-79, I-90, and major local thoroughfares.
Sargent Electric occupies the building under a NNN lease with three years remaining and three one-year renewal options. A separate billboard lease has two years remaining and renews year to year, subject to a 60-day nonrenewal notice. The property is in downtown Erie, with access to I-79, I-90, and major local thoroughfares.
Key Highlights
- 9,519‑square‑foot industrial building on two parcels totaling 0.281 acres
- C‑3 zoning
- 7,652‑square‑foot heated warehouse with 14‑foot‑7‑inch clear ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,488
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,429,760
$1.4M
Cap Rate 7%
$1,021,257
$1.0M
Cap Rate 9%
$794,311
$794.3K
Market Conditions
NOI Build-Up for 9,519 SF
Gross rent
$90.2K $9.48/SF
− Vacancy
−$6.1K −$0.64/SF
EGI
$84.1K $8.84/SF
− OpEx
−$12.6K −$1.33/SF
NOI
$71.5K $7.51/SF
Area
Erie County, PA
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,429,760
Cap Rate 7%
$1,021,257
Cap Rate 9%
$794,311
Alternative Uses
Best Use
Warehouse
$1.02M
$893.6K – $1.19M
NOI $71,488 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.07M – $2.76M
NOI $165,311 @ 7.0% cap · market cap 16.95%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
14 ft
Clear height
3
Drive-in doors
100%
Occupancy
Single-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,282
Businesses Nearby
Explore this area
Business Placement
Demographics for 16501, PA
2,241
Population
1,468
Households
1.5
Avg Household Size
48
Median Age
23%
College-Educated
85%
High-School Grad
0.7 sq mi
ZIP Area
3,201
Density / Sq Mi
$14,579
Median Household Income
$12,623
Median Earnings
$411
Median Rent
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
NNN property - The occupied property combines warehouse and climate-controlled office space with a fenced, paved yard.
Where is this nnn property located?
The property is located at 151 E 10th St Erie, PA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 9,519‑square‑foot industrial building on two parcels totaling 0.281 acres; C‑3 zoning; 7,652‑square‑foot heated warehouse with 14‑foot‑7‑inch clear ceilings
