Duplex and Warehouse
For Sale
$229,000
1605 Plum St, Erie, PA 16502
A renovated upper-level apartment sits above a storage floor, alongside a separate warehouse on a gated parcel.
Property Size2,800 SF
Lot Size0.38 Acres
Price / SF$108.74
Days on Market14
Property Features for 1605 Plum St
General Information
Standard status
Active
Size
2,800 SF
Lot size
0.38 Acres
Property subtype
Residential Income
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
2,800 SF
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$2,403
Building Details
Year Built
2022
Buildings
2
Building Size
2,800 SF
Listing Agency:
Baldwin Brothers, Inc
(814) 454-4541
Listed By:
Jacob Duska · License #RS361931
(814) 528-1361
Source:
Exprealty
Added: Sep 29
Changed: Oct 11
Last Checked: Oct 11 at 2:28PM
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 Baldwin Brothers, Inc
Investment Insights
Based on property information with market context.
This Erie mixed-use property combines a 2,106-square-foot duplex with a separate 2,800-square-foot warehouse on approximately 0.38 acres. The duplex has a renovated second-floor apartment, a ground-level area currently used for storage, a full basement, and a patio at the rear. The storage floor has renovation potential.
Constructed in 2022, the warehouse measures approximately 50' x 56' and has ceilings around 16 feet high, two 12' x 14' overhead doors, and metal roofing and siding. The parcel is paved and gated, with a sizable yard behind the buildings. The property is located in Erie’s Little Italy neighborhood.
Constructed in 2022, the warehouse measures approximately 50' x 56' and has ceilings around 16 feet high, two 12' x 14' overhead doors, and metal roofing and siding. The parcel is paved and gated, with a sizable yard behind the buildings. The property is located in Erie’s Little Italy neighborhood.
Key Highlights
- 2,106‑square‑foot duplex and 2,800‑square‑foot warehouse on approximately 0.38 acres
- Renovated second‑floor apartment; first floor currently used for storage
- Duplex includes a full basement and rear patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,816
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$316,320
$316.3K
Cap Rate 7%
$225,943
$225.9K
Cap Rate 9%
$175,733
$175.7K
Market Conditions
NOI Build-Up for 2,106 SF
Gross rent
$20.0K $9.48/SF
− Vacancy
−$1.4K −$0.64/SF
EGI
$18.6K $8.84/SF
− OpEx
−$2.8K −$1.33/SF
NOI
$15.8K $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%
$316,320
Cap Rate 7%
$225,943
Cap Rate 9%
$175,733
Alternative Uses
Best Use
Mixed Use
$304.6K
$266.5K – $355.4K
NOI $21,323 @ 7.0% cap · market cap 9.31%
Second Best
Warehouse
$225.9K
$197.7K – $263.6K
NOI $15,816 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$522.5K
$457.2K – $609.6K
NOI $36,574 @ 7.0% cap · market cap 15.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Explore this area
Business Placement
Demographics for 16502, PA
15,435
Population
7,811
Households
2
Avg Household Size
34
Median Age
18%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
6,174
Density / Sq Mi
$34,649
Median Household Income
$27,342
Median Earnings
$831
Median Rent
$90,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - A renovated upper-level apartment sits above a storage floor, alongside a separate warehouse on a gated parcel.
Where is this mixed-use property located?
The property is located at 1605 Plum St Erie, PA.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: 2,106‑square‑foot duplex and 2,800‑square‑foot warehouse on approximately 0.38 acres; Renovated second‑floor apartment; first floor currently used for storage; Duplex includes a full basement and rear patio
