Mixed-Use Property Near Presque
3214 W 8TH Street Erie, PA 16505
3214 W 8TH Street, Erie, PA, 16505
$1,200,000
For Sale
$1,200,000
MULTI_FAMILY - Erie, PA
Property Size6,486 SF
Lot Size0.98 Acres
Price / SF$185.01
Days on Market355
Property Features for 3214 W 8TH Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 2, Bedroom 5, Bedroom 1, Bedroom 7, Bedroom 8, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 6, Bathroom 1, Bathroom 4, Bedroom 4
- Standard status
- Active
- APN
- 33-017-019.0-145.00
- Size
- 6,486 SF
- Lot size
- 0.98 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4018
- Expense value
- 10000
- Expense
- SecurityDeposit
- Expense freq.
- One Time
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1940
- Number of units
- 3
- Building materials
- Mixed
- Roof type
- Asphalt
Listing Agency
Agresti Real Estate
(814) 459-9400
2635 W 26th Street, Erie, PA
Listed by
Bob List · License #RS367057
(814) 504-8087
Added: Jul 30, 2025 Checked: Jul 19 at 2:06 am
MLS# 187149
Listing URL
Copyright © 2026 Greater Erie Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property is located in the Presque Isle Gateway area. It features five commercial units that are currently rented, along with a 2-bedroom loft apartment situated above the main building. Additionally, the property includes a separate 4-bedroom single-family home and a 2-bedroom mobile home, all occupied by long-term tenants. The property has a total size of 6486 square feet and is situated on a 0.9801-acre lot. The property also includes a large storage lot, multiple garages, and additional storage units. This property offers potential for expansion or new business ventures.
Key Highlights
- High‑traffic, high‑demand location in the Presque Isle Gateway.
- Turn‑key, well‑established mixed‑use property with income potential.
- Five fully rented commercial units with long‑term tenants.
Local Financial Insights For Mixed Use
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 | $116.7k | $18.00 |
| − Vacancy | −$11.7k | −$1.80 |
| EGI | $105.1k | $16.20 |
| − OpEx | −$39.4k | −$6.07 |
| NOI | $65.7k | $10.13 |
6,486 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$938.2K
$820.9K – $1.09M
NOI $65,671 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$569.5K
$498.3K – $664.4K
NOI $39,862 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,638 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mixed-use properties
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with commercial units, apartments, and single-family home.
Where is this mixed-use property located?
The property is located at 3214 W 8TH Street Erie, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: High‑traffic, high‑demand location in the Presque Isle Gateway.; Turn‑key, well‑established mixed‑use property with income potential.; Five fully rented commercial units with long‑term tenants.
