Renovated Industrial
2300 COLONIAL Avenue, Erie, PA 16506
For Sale
New
Contact for pricing
A substantial warehouse operation is paired with a renovated office, truck docks, drive-in access, and heavy power.
Property Size30,300 SF
Lot Size3.45 Acres
Price / SF$191.42
Days on Market5
Property Features for 2300 COLONIAL Avenue
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Utilities to Site
Warehouse & Industrial
Clear Height
Warehouse Space
Office Build-Out
Dock-High Doors
Drive-In Doors
Three-Phase Power
Heavy Power
Sprinkler System
Additional Details
Property Use
Building Details
Year Built
Year Renovated
Building Size
Listing Agency:
SBRE - Sherry Bauer Real Estate
Listed By:
Sherry Bauer · License PA RM422666
(814) 460-2000
Source:
Crexi
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 4:53PM
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 SBRE - Sherry Bauer Real Estate
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Investment Insights
Based on property information with market context.
This industrial facility contains 30,300± SF, including 29,880± SF of warehouse space and a 420± SF office renovated in 2026. The office includes reception and waiting space, four private offices, a conference room, a break room, and two restrooms. Warehouse features include two truck docks with levelers, one drive-in overhead door, approximately 20-foot ceilings, a partial wet sprinkler system, three-phase service, heavy power, and two shop restrooms. The building was constructed in 1995 and fully renovated in 2026.
The property occupies two parcels totaling 3.45± acres in Millcreek Township and is zoned I1 (Light Industrial). It is just off Route 20 and W. Ridge Road, 2.6 miles from I-79 and 5.4 miles from I-90. The recently repaved parking lot provides approximately 52 spaces, and public utilities serve the property. A Phase I environmental study is available.
The property occupies two parcels totaling 3.45± acres in Millcreek Township and is zoned I1 (Light Industrial). It is just off Route 20 and W. Ridge Road, 2.6 miles from I-79 and 5.4 miles from I-90. The recently repaved parking lot provides approximately 52 spaces, and public utilities serve the property. A Phase I environmental study is available.
Key Highlights
- 30,300± SF facility with 29,880± SF of warehouse area and 420± SF of office space
- Two truck docks with levelers and one drive‑in overhead door
- Approximately 20‑foot ceilings, partial wet sprinkler system, three‑phase service, and heavy power
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$227,555
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,551,100
$4.6M
Cap Rate 7%
$3,250,786
$3.3M
Cap Rate 9%
$2,528,389
$2.5M
Market Conditions
NOI Build-Up for 30,300 SF
Gross rent
$287.2K $9.48/SF
− Vacancy
−$19.5K −$0.64/SF
EGI
$267.7K $8.84/SF
− OpEx
−$40.2K −$1.33/SF
NOI
$227.6K $7.51/SF
Area
Erie County, PA
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,551,100
Cap Rate 7%
$3,250,786
Cap Rate 9%
$2,528,389
Alternative Uses
Best Use
Warehouse
$3.25M
$2.84M – $3.79M
NOI $227,555 @ 7.0% cap · market cap 3.92%
Second Best
Industrial
$2.68M
$2.34M – $3.12M
NOI $187,398 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$7.52M
$6.58M – $8.77M
NOI $526,202 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
20 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 16506, PA
23,918
Population
10,309
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
96%
High-School Grad
13.6 sq mi
ZIP Area
1,759
Density / Sq Mi
$84,021
Median Household Income
$47,823
Median Earnings
$1,176
Median Rent
$224,200
Median Home Value
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Market
Average Price Trend$/SF for Warehouses in Erie, PA
Properties on Market for Warehouses in Erie
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- Valu-Stor — 4025 W Ridge Rd, Erie, PA 16506
- Sesler Self Storage — 4025 W Ridge Rd, Erie, PA 16506, United States
Frequently Asked Questions
What type of property is this?
Warehouse - A substantial warehouse operation is paired with a renovated office, truck docks, drive-in access, and heavy power.
Where is this warehouse located?
The property is located at 2300 COLONIAL Avenue Erie, PA.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: 30,300± SF facility with 29,880± SF of warehouse area and 420± SF of office space; Two truck docks with levelers and one drive‑in overhead door; Approximately 20‑foot ceilings, partial wet sprinkler system, three‑phase service, and heavy power
