Renovated Flex Space with Fenced
For Sale
$399,000
2 TITUSVILLE Road, Union City, PA 16438
COMMERCIAL - Union City, PA
Property Size2,400 SF
Lot Size1.55 Acres
Price / SF$166.25
Days on Market173
Property Features for 2 TITUSVILLE Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
10
Exterior features
Fence
Fencing
Fenced
Elementary school district
Union City
Middle school district
Union City
High school district
Union City
Directions
Route 8 through Union City - across street from the Kwik Fill at Route 6/8 intersection
Subdivision
17 - Union City/Union Township
Standard status
Active
APN
41-016-086.0-001.00
Size
2,400 SF
Lot size
1.55 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2992
Expense value
10000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Gas (Cooling), Central Air
Water source
Public
Building Details
Year built
1969
Building materials
Frame, MetalSiding
Listing Agency:
Weichert Realtors - The Pro Group
(814) 825-7761
Listed By:
Sherri Heasley · License #RM048781A
(814) 449-7263
Added: Feb 20
Changed: Aug 4
Last Checked: Aug 12 at 10:06PM
MLS# 189716
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 renovated flex space features a 2,400 SF building constructed in 1969 with frame construction and metal siding. The exterior has been newly sided, and old exterior cribs have been removed. The property includes central air with gas (cooling) and forced-air heating with natural gas, plus a fenced yard.
Set on 1.55 acres on Titusville Road in Union City, PA (16438), the building sits across from the Kwik Fil. Public utilities are available, with public water and public sewer. The property is positioned for a range of uses including retail, a veterinary clinic, a garden center, warehouse, and vehicle storage.
The layout includes two bathrooms.
Set on 1.55 acres on Titusville Road in Union City, PA (16438), the building sits across from the Kwik Fil. Public utilities are available, with public water and public sewer. The property is positioned for a range of uses including retail, a veterinary clinic, a garden center, warehouse, and vehicle storage.
The layout includes two bathrooms.
Key Highlights
- Renovated and newly sided exterior with old exterior cribs removed
- 2,400 SF flex space building constructed in 1969
- 1.55 acres with fenced yard
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
$27,065
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
6.78%
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%
$541,300
$541.3K
Cap Rate 7%
$386,643
$386.6K
Cap Rate 9%
$300,722
$300.7K
Market Conditions
NOI Build-Up for 2,400 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
$43.2K $18.00/SF
− Vacancy
−$4.5K −$1.89/SF
EGI
$38.7K $16.11/SF
− OpEx
−$11.6K −$4.83/SF
NOI
$27.1K $11.28/SF
Area
Erie County, PA
Vacancy
10.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$541,300
Cap Rate 7%
$386,643
Cap Rate 9%
$300,722
Alternative Uses
Best Use
Retail
$386.6K
$338.3K – $451.1K
NOI $27,065 @ 7.0% cap · market cap 6.78%
Second Best
Warehouse
$257.5K
$225.3K – $300.4K
NOI $18,024 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$595.4K
$521.0K – $694.7K
NOI $41,679 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 16438, PA
7,504
Population
4,146
Households
1.8
Avg Household Size
44
Median Age
17%
College-Educated
90%
High-School Grad
102.4 sq mi
ZIP Area
73
Density / Sq Mi
$60,559
Median Household Income
$35,208
Median Earnings
$743
Median Rent
$134,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated flex space with frame and metal siding, central air, gas forced-air heat, and fenced yard served by public water and sewer.
Where is this flex space located?
The property is located at 2 TITUSVILLE Road Union City, PA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Renovated and newly sided exterior with old exterior cribs removed; 2,400 SF flex space building constructed in 1969; 1.55 acres with fenced yard
