Updated Mixed-Use
New
For Sale
$299,000
1925 W 8TH Street, Erie, PA 16505
CommercialSale, Erie, PA
Property Size1,552 SF
Lot Size0.15 Acres
Price / SF$192.65
Days on Market6
Property Features for 1925 W 8TH Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
R-1
Elementary school district
City-Erie
Middle school district
City-Erie
High school district
City-Erie
Directions
WEST 8TH STREET TO PROPERTY.
Subdivision
2 - Erie Northwest
Standard status
Active
APN
16-031-013.0-310.00
Size
1,552 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2518
Expense value
5000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
central A/C
front porch
elevated deck
private entrance
Building Details
Building materials
Brick
Listing Agency:
Marsha Marsh RES Peach
(814) 866-8840
Listed By:
Lisa Schwab · License #RS335619
(814) 881-0509
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 31 at 4:06AM
MLS# 192889
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 1,552-square-foot mixed-use property sits on 0.1469 acres and features brick construction, natural-gas forced-air heat, and central air conditioning. Recent work includes a main-level kitchen renovation with new plumbing, electrical service, counters, and appliances, along with an updated bathroom and laundry room. The roof was replaced in 2024, the second floor was remodeled in 2024, and windows were added on the second and third floors.
A private entrance serves the second floor, which offers potential for separate living quarters. Exterior improvements include a front porch, a 15-by-27-foot elevated deck with privacy fencing, and parking or carport space below. The property also provides a 40-by-60-foot parking area, public water, and public sewer. RLB zoning and the existing configuration support flexible mixed-use planning.
A private entrance serves the second floor, which offers potential for separate living quarters. Exterior improvements include a front porch, a 15-by-27-foot elevated deck with privacy fencing, and parking or carport space below. The property also provides a 40-by-60-foot parking area, public water, and public sewer. RLB zoning and the existing configuration support flexible mixed-use planning.
Key Highlights
- 1,552 SF mixed‑use property on a 0.1469‑acre lot
- RLB zoning with a private second‑floor entrance
- Second floor remodeled in 2024 with potential for separate living quarters
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,538
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$190,760
$190.8K
Cap Rate 7%
$136,257
$136.3K
Cap Rate 9%
$105,978
$106.0K
Market Conditions
NOI Build-Up for 1,552 SF
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.
Gross rent
$18.1K $11.64/SF
− Vacancy
−$723 −$0.47/SF
EGI
$17.3K $11.17/SF
− OpEx
−$7.8K −$5.03/SF
NOI
$9.5K $6.15/SF
Area
Erie County, PA
Vacancy
4.00%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$190,760
Cap Rate 7%
$136,257
Cap Rate 9%
$105,978
Alternative Uses
Best Use
Apartment 5plus
$136.3K
$119.2K – $159.0K
NOI $9,538 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$385.0K
$336.9K – $449.2K
NOI $26,953 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
Explore this area
Business Placement
Demographics for 16505, PA
16,437
Population
8,407
Households
2
Avg Household Size
49
Median Age
45%
College-Educated
96%
High-School Grad
11.7 sq mi
ZIP Area
1,405
Density / Sq Mi
$71,370
Median Household Income
$45,793
Median Earnings
$871
Median Rent
$196,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - RLB-zoned property with renovated interiors, private second-floor access, central air, and substantial on-site parking.
Where is this single family property located?
The property is located at 1925 W 8TH Street Erie, PA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,552 SF mixed‑use property on a 0.1469‑acre lot; RLB zoning with a private second‑floor entrance; Second floor remodeled in 2024 with potential for separate living quarters
