Versatile Commercial Property with High
1909 E 38th St., Erie, PA 16504
High-visibility commercial space suitable for office, medical, or retail use.
Type:Special Purpose
Property size:
3,000 SFPrice / SF:
$166/SF- Added:
- May 16, 2026
- Days on Market:
- 16
- Last Refresh:
- May 17 at 8:49 pm
Property Features for 1909 E 38th St.
General Information
- Standard status
- Active
- Size
- 3,000 SF
- Property subtype
- Special Purpose
Listing agent Alina Kotok License #PA RS379420
Listing office Coldwell Banker Select, REALTORS
Listing date May 16, 2026
Source Crexi
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 Coldwell Banker Select, REALTORS
HighLights
- High‑visibility location with approximately 15,000 cars passing by daily.
- Approximately 3,000 sq ft suitable for office, medical, retail, or professional use.
- Easy access with a convenient turn into the property and a bus stop across the street.
- Flexible layout with potential to remove walls for an open floor plan.
- Secure vault, a rare and valuable feature.
- Located near Mercyhurst University, the VA Medical Center, and major Route 8 & Route 97 corridors.
Overview
This commercial property offers a prime, high-visibility location with approximately 15,000 cars passing by daily. It provides easy access with a convenient turn into the property and a bus stop across the street. The property is located near Mercyhurst University, the VA Medical Center, and major Route 8 & Route 97 corridors. The space encompasses approximately 3,000 sq ft, offering ample room for a variety of business opportunities, including office, medical, retail, or professional use. The layout is flexible, with the potential to remove walls on the first floor and create a completely open floor plan on the second floor. A unique feature is the secure vault, a rare and valuable addition for many business types. The property includes a central office space, 10 individual offices, multiple bathrooms and showers, plus a freshly painted basement offering additional storage or workspace potential.
Local Financial Insights For Office B
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 | $67.7k | $22.56 |
| − Vacancy | −$15.3k | −$5.10 |
| EGI | $52.4k | $17.46 |
| − OpEx | −$13.1k | −$4.37 |
| NOI | $39.3k | $13.10 |
3,000 SF · lease $22.56/SF/yr · vacancy 22.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$561.3K
$491.1K – $654.8K
NOI $39,288 @ 7.0% cap · market cap 7.87%
Second Best
Retail
$483.3K
$422.9K – $563.9K
NOI $33,831 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$744.3K
$651.2K – $868.3K
NOI $52,099 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Erie
- County
- Erie
- State
- Pennsylvania
- Longitude
- -80.114236
- Latitude
- 42.084497
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - High-visibility commercial space suitable for office, medical, or retail use.
Where is this office units located?
The property is located at 1909 E 38th St. Erie, PA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: High‑visibility location with approximately 15,000 cars passing by daily.; Approximately 3,000 sq ft suitable for office, medical, retail, or professional use.; Easy access with a convenient turn into the property and a bus stop across the street.
