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    Erie Commercial Property on 38th

    1618 E 38TH Street Erie, PA 16510

    1618 E 38TH Street, Erie, PA, 16510
    $255,000
    For Sale
    Claim this Listing
    $255,000

    COMMERCIAL - Erie, PA

    Property Size1,176 SF
    Lot Size0.40 Acres
    Price / SF$216.84
    AddedJan 19
    Days on Market178
    Last RefreshJul 16 at 4:06 am

    Property Features for 1618 E 38TH Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking
    12
    Standard status
    Active
    APN
    18-051-066.0-103.00
    Size
    1,176 SF
    Lot size
    0.40 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    7862
    Expense value
    10000
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Year built
    1988
    Building materials
    Block

    Listing agent Sherri Heasley License #RM048781A

    Listing office Weichert Realtors - The Pro Group 4720 Wattsburg Rd, Erie, PA

    Listing date Jan 19, 2026

    MLS# 189381

    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 commercial property is located on a busy corridor of E 38th Street. The zoning allows for multiple uses, presenting various business opportunities. Formerly an oil change site, the property features high ceilings and overhead doors. Oil change pits are still available for use. The 1,176 square foot building includes a small office space, a bathroom, and storage areas on the first floor. Heating is provided by a forced air furnace, with an additional space heater in the basement. The furnace and hot water tank are located above the office area. The lot size is approximately 0.399 acres.

    Key Highlights

    • High‑traffic location on busy E 38th Street corridor.
    • Zoning allows for multiple business uses.
    • Former oil change site with existing infrastructure like pits and overhead doors.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $21.2k $18.00
    − Vacancy −$2.2k −$1.89
    EGI $18.9k $16.11
    − OpEx −$5.7k −$4.83
    NOI $13.3k $11.28
    1,176 SF · lease $18.00/SF/yr · vacancy 10.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $189.5K
    $165.8K – $221.0K (±1% cap)
    NOI $13,262 @ 7.0% cap · market cap 5.20%
    Second Best
    Industrial
    $103.9K
    $90.9K – $121.2K (±1% cap)
    NOI $7,273 @ 7.0% cap · market cap 2.85%
    Theoretical Best
    Office A
    $291.8K
    $255.3K – $340.4K (±1% cap)
    NOI $20,423 @ 7.0% cap · market cap 8.01%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Real Estate Agency Law Firm Dental Office Restaurant Spa & Massage Center Hair Salon Building Supply Skin Care Clinic Nail Salon HVAC Service

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

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    Similar Off Market Nearby

    • Ed's Transmission & Auto Services — 1228 E 26th St, Erie, PA 16504
    • Extra Value Towing and Roadside Ltd — 3835 Lake Pleasant Rd, Erie, PA 16504
    • Chambless Towing Service — 2529 Broad St, Erie, PA 16503
    • Barber Auto — 1937 E 38th St, Erie, PA 16510
    • Tom Dylewski Services Inc — 4421 Pine Ave, Erie, PA 16504

    FAQs

    What type of property is this?
    Auto shop - Commercial property with multi-use zoning in a busy corridor.
    Where is this auto shop located?
    The property is located at 1618 E 38TH Street Erie, PA.
    What is the asking price?
    The asking price for this property is $255,000.
    What are key features of this property?
    This property features: High‑traffic location on busy E 38th Street corridor.; Zoning allows for multiple business uses.; Former oil change site with existing infrastructure like pits and overhead doors.
    Contact an agent
    (814) 449-7263
    We can help!
    Contact an agent
    Sherri Heasley
    Real Estate License ID: RM048781A
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