Mixed-Use Property with Four
For Sale
$360,000
2931 Maple St, Erie, PA 16508
Includes a commercial storefront, three residential rentals, and separately metered utilities.
Property Size4,850 SF
Lot Size0.12 Acres
Price / SF$74.23
Days on Market80
Property Features for 2931 Maple St
General Information
Standard status
Active
Size
4,850 SF
Total Parking Spaces
11
Lot size
0.12 Acres
Property subtype
Residential Income
Zoning
R-1A
Occupancy
50%
Net Operating Income
$26,522
Financials
Asking Price
$360,000
Cap Rate
7.4%
Gross Income
$35,445
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
3
Office Units
1
Taxes and HOA fees
Annual Taxes
$4,965
Listing Agency:
SBRE - Sherry Bauer Real Estate Services
(814) 453-2000
Listed By:
Sherry Bauer · License #RM422666
(814) 460-2000
Source:
Exprealty
Added: Jul 29
Changed: Oct 8
Last Checked: Oct 16 at 12:46PM
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 Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property combines a commercial storefront with three residential rentals across two contiguous parcels. The 4,850± SF package sits on 0.12± acres and includes a 911± SF office/storefront, a one-bedroom, one-bath apartment, a two-bedroom, one-bath apartment, and a three-bedroom, one-bath single-family home. The property was built in 1909, with off-street parking, a paved lot, private driveway, and on-street parking available.
Located at 2931 Maple Street in Erie, the property is 0.4 miles, or three blocks, from Erie High School and near Peach Street’s retail and service corridor. Multiple public bus routes serve the surrounding area. Units are separately metered for gas and/or electric, with one unit fully electric. The property is zoned Traditional Single Family Development (R-1A), and a tax abatement program is available for qualifying capital improvement projects requiring a building permit.
Located at 2931 Maple Street in Erie, the property is 0.4 miles, or three blocks, from Erie High School and near Peach Street’s retail and service corridor. Multiple public bus routes serve the surrounding area. Units are separately metered for gas and/or electric, with one unit fully electric. The property is zoned Traditional Single Family Development (R-1A), and a tax abatement program is available for qualifying capital improvement projects requiring a building permit.
Key Highlights
- 4,850± SF mixed‑use package on 0.12± acres across 2 contiguous parcels
- Four‑unit mix: 911± SF office/storefront plus 1-, 2-, and 3‑bedroom residences
- Off‑street parking for ±11, including a paved lot for ±9
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,808
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$596,160
$596.2K
Cap Rate 7%
$425,829
$425.8K
Cap Rate 9%
$331,200
$331.2K
Market Conditions
NOI Build-Up for 4,850 SF
Gross rent
$56.5K $11.64/SF
− Vacancy
−$2.3K −$0.47/SF
EGI
$54.2K $11.17/SF
− OpEx
−$24.4K −$5.03/SF
NOI
$29.8K $6.15/SF
Area
Erie County, PA
Vacancy
4.00%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$596,160
Cap Rate 7%
$425,829
Cap Rate 9%
$331,200
Alternative Uses
Best Use
Office B
$907.4K
$794.0K – $1.06M
NOI $63,516 @ 7.0% cap · market cap 17.64%
Second Best
Mixed Use
$701.5K
$613.8K – $818.4K
NOI $49,106 @ 7.0% cap · market cap 13.64%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,227 @ 7.0% cap · market cap 23.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Office units
3
Residential units
50%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,019
Businesses Nearby
Explore this area
Business Placement
Demographics for 16508, PA
15,172
Population
7,385
Households
2.1
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
2.8 sq mi
ZIP Area
5,419
Density / Sq Mi
$52,361
Median Household Income
$36,209
Median Earnings
$852
Median Rent
$121,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a commercial storefront, three residential rentals, and separately metered utilities.
Where is this mixed-use property located?
The property is located at 2931 Maple St 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: 4,850± SF mixed‑use package on 0.12± acres across 2 contiguous parcels; Four‑unit mix: 911± SF office/storefront plus 1-, 2-, and 3‑bedroom residences; Off‑street parking for ±11, including a paved lot for ±9
