Corner Mechanic Shop with
2223 STATE Street Erie, PA 16502
2223 STATE Street, Erie, PA, 16502
$360,000
For Sale
$360,000
Turnkey corner mechanic shop includes office space, business tools, and ample parking with substantial street frontage.
Property Size1,124 SF
Price / SF$320.28
Days on Market107
Property Features for 2223 STATE Street
General Information
- Standard status
- Active
- Size
- 1,124 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1949
Listing agency
(814) 737-2457
Listed by
Agresti Real Estate
(814) 737-2457
Source
Xome
Added: Apr 6 Updated: Jul 20 at 8:28PM Checked: Jul 21 at 3:53AM
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 Agresti Real Estate
Investment Insights
Based on property information with market context.
This highly visible corner property operates as a fully equipped mechanic shop, with the business and tools included for immediate use. The setup also includes office space, supporting day-to-day administration alongside shop operations. Ample parking is provided to support customer and staff access.
The property features approximately 40 feet of frontage on State St. and approximately 165 feet along E 23rd Street, positioning the shop for strong exposure from both directions.
With its shop improvements, included tools, and office space, the layout is designed for a practical, turnkey automotive service operation.
The property features approximately 40 feet of frontage on State St. and approximately 165 feet along E 23rd Street, positioning the shop for strong exposure from both directions.
With its shop improvements, included tools, and office space, the layout is designed for a practical, turnkey automotive service operation.
Key Highlights
- Corner mechanic shop with approximately 40 ft frontage on State St. and 165 ft frontage on E 23rd St.
- Full equipped mechanic shop with business and tools included
- Includes office space
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 | $25.4k | $22.56 |
| − Vacancy | −$5.7k | −$5.10 |
| EGI | $19.6k | $17.46 |
| − OpEx | −$4.9k | −$4.37 |
| NOI | $14.7k | $13.10 |
1,124 SF · lease $22.56/SF/yr · vacancy 22.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$210.3K
$184.0K – $245.3K
NOI $14,720 @ 7.0% cap · market cap 4.09%
Second Best
Retail
$181.1K
$158.4K – $211.3K
NOI $12,675 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$278.9K
$244.0K – $325.3K
NOI $19,520 @ 7.0% cap · market cap 5.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
state auto service ...
Auto Repair Shop
Similar For Sale Nearby
Similar Off Market Nearby
- Glenwood Automotive — 2915 Glenwood Park Ave, Erie, PA 16508
- Right Fleet Towing Company — 2609-11 Peach St, Erie, PA 16508
- C & J Automotive Performance — 2802 Glenwood Park Ave, Erie, PA 16508
- Fleet Repair — 2615 Myrtle St, Erie, PA 16508
- Apex Auto Service Center — 2615 Peach St, Erie, PA 16508
FAQs
What type of property is this?
Auto shop - Turnkey corner mechanic shop includes office space, business tools, and ample parking with substantial street frontage.
Where is this auto shop located?
The property is located at 2223 STATE Street Erie, PA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Corner mechanic shop with approximately 40 ft frontage on State St. and 165 ft frontage on E 23rd St.; Full equipped mechanic shop with business and tools included; Includes office space
