Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2178 W 38th St Erie Erie, PA 16508

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,100,000

    Retail property available for purchase.

    Type:Retail
    Added:
    Sep 10, 2025
    Days on Market:
    209
    Last Refresh:
    Dec 9 at 8:11 pm

    Property Features for 2178 W 38th St Erie

    General Information

    Standard status
    Active
    Property subtype
    Retail

    We can help!

    Listing Contact
    Jack Lipar
    Jack Lipar

    Listing agent Jack Lipar License #0591138

    Listing office LGI Homes

    Listing date Sep 10, 2025

    Source Lee-associates

    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 LGI Homes

    Overview

    Retail Property for Sale

    A retail property is available for sale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail properties & Spaces

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.018576
    Latitude
    42.120604

    Nearby Similar for Sale

    • $965,000
      9,120 SF

      Wesleyville Borough 12-Unit Investment Property

      Rare 12-unit multifamily property in a desirable Erie location.
      3400 FRANCIS Street, Erie, PA 16510
      View Details
    • $255,000
      1,176 SF

      Erie Commercial Property on 38th

      Commercial property with multi-use zoning in a busy corridor.
      1618 E 38TH Street, Erie, PA 16510
      View Details
    • $325,000
      4,224 SF

      Erie Investment Opportunity: Four Units

      Two duplexes, four units, long-term tenants, separate utilities.
      2623-2629 E 29TH Street, Erie, PA 16510
      View Details
    • $389,900
      7,667 SF

      Erie Mixed-Use Investment Opportunity

      Mixed-use property with retail, residential, and warehouse components.
      1029 31 EAST Avenue, Erie, PA 16503
      View Details
    • $2,750,000
      13,200 SF

      Erie Multifamily Investment Opportunity

      Remodeled 18-unit residential and commercial property in downtown Erie.
      38 N PARK Row, Erie, PA 16501
      View Details
    • $164,500
      2,068 SF

      Established Pizzeria Business Opportunity

      Turn-key pizzeria business for sale in Erie, PA.
      MAMA MIA'S PIZZERIA Street, Erie, PA 16508
      View Details
    • $1,899,900
      15,948 SF

      Historic Erie Mixed-Use Property

      Revitalized mixed-use property in downtown Erie with income potential.
      502/506 STATE Street, Erie, PA 16501
      View Details
    • $139,500
      1,840 SF

      Turnkey Duplex in Erie, PA

      Fully-occupied duplex with immediate returns and future upside.
      406 RASPBERRY Street, Erie, PA 16502
      View Details
    • $135,000
      1,744 SF

      Erie Investment Property For Sale

      Two-unit property with remodeled first floor and off-street parking.
      730 E 5TH Street, Erie, PA 16507
      View Details
    • $495,000
      6,335 SF

      Freestanding Mixed-Use Building For Sale

      6,335 SF mixed-use building with retail, storage, and office space.
      3412 W Lake Rd, Erie, PA, 16505-3612
      View Details
    • $179,900
      6,236 SF

      Erie Multifamily Investment Opportunity

      Solid brick quadplex with off-street parking on oversized lot.
      234 W 20TH Street, Erie, PA 16502
      View Details
    • $134,900
      3,640 SF

      Three-Unit Investment Property in Erie

      Multi-unit property with income potential near amenities in Erie, PA.
      312 E 12TH Street, Erie, PA 16504
      View Details

    FAQs

    What type of property is this?
    Retail property - Retail property available for purchase.
    Where is this retail property located?
    The property is located at 2178 W 38th St Erie Erie, PA.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: No property details provided.
    (281) 362-8998
    We can help!
    Listing Contact
    Jack Lipar
    Jack Lipar
    Real Estate License ID: 0591138
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!