Listing Agency: Sherry Bauer Real Estate Services (SBRE) Show Phone

Listed By: Sherry Bauer · License #RM422666 Show Phone

Source: Moodyscre

Added: May 29 Changed: Oct 26 Last Checked: Oct 28 at 12:29PM

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Investment Insights

Based on property information with market context.

Multi-building industrial facility offered for sale, totaling 26,842± SF across three buildings situated on 8.29± acres. Building 1 includes a 17,882± SF main facility with two drive-in overhead doors and one truck dock, plus 2,690± SF of fully climate-controlled, recently renovated office space featuring five private offices, a conference room, two restrooms, and a break room. Building 1 also includes a 15,192± SF heated warehouse area with two work rooms/offices, a break room, locker room, and restroom, served by gas forced air heat throughout, central air conditioning for the office area, and 11' to 16'5" ceilings.

Building 1 is equipped with four cranes (one 1-ton and one 1/2-ton units listed), a 120/240/400V, 3-phase service, and a dry sprinkler system. Buildings 2 and 3 total 8,960± SF combined and each include two-bay warehouse layouts with multiple drive-in overhead doors; Building 2 has three drive-in overhead doors and one truck dock, and Building 3 has three drive-in overhead doors and a restroom. Buildings 2 and 3 are served by 120/240V, single-phase service.

The facility offers a mix of warehouse and office space with both heated warehouse areas and climate-controlled office improvements, plus overhead door and dock access across the three buildings.

Key Highlights

• 3‑building industrial facility totaling 26,842± SF on 8.29± acres
• Building 1 includes 17,882± SF main facility with 2 drive‑in overhead doors and 1 truck dock
• Building 1 offers 2,690± SF fully climate controlled office area (recently renovated) with 5 private offices and conference room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$201,585

Cap Rate

8.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,031,700 $4.0M

Cap Rate 7%

$2,879,786 $2.9M

Cap Rate 9%

$2,239,833 $2.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 26,842 SF

Gross rent

$254.5K $9.48/SF

− Vacancy

−$17.3K −$0.64/SF

EGI

$237.2K $8.84/SF

− OpEx

−$35.6K −$1.33/SF

NOI

$201.6K $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%

$4,031,700

Cap Rate 7%

$2,879,786

Cap Rate 9%

$2,239,833

Alternative Uses

Best Use

Warehouse

$2.88M

$2.52M – $3.36M (±1% cap)

NOI $201,585 @ 7.0% cap · market cap 8.42%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$6.66M

$5.83M – $7.77M (±1% cap)

NOI $466,149 @ 7.0% cap · market cap 19.46%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Warehouses

Suggested Use

Top Pick Building Supply Restaurant Big Box & Wholesale Store Law Firm Auto Parts Store Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16 ft

Clear height

2

Dock-high doors

8

Drive-in doors

Yes

Heavy power

Yes

Sprinkler system

Location Intelligence

Trade Area within ½ mile

66

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 16415, PA

9,898

Population

3,958

Households

2.5

Avg Household Size

44

Median Age

46%

College-Educated

98%

High-School Grad

23.3 sq mi

ZIP Area

425

Density / Sq Mi

$105,604

Median Household Income

$51,650

Median Earnings

$1,229

Median Rent

$286,300

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - Three industrial buildings totaling 26,842± SF on 8.29± acres, with multiple drive-in overhead doors and truck docks.

Where is this warehouse located?

The property is located at 2455 Avonia Rd Fairview, PA.

What is the asking price?

The asking price for this property is $2,395,000.

What are key features of this property?

This property features: 3‑building industrial facility totaling 26,842± SF on 8.29± acres; Building 1 includes 17,882± SF main facility with 2 drive‑in overhead doors and 1 truck dock; Building 1 offers 2,690± SF fully climate controlled office area (recently renovated) with 5 private offices and conference room