Erie Mixed-Use Investment
3214 W 8TH Street, Erie, PA 16505
- Added:
- Jul 30, 2025
- Days on Market:
- 291
- Last Refresh:
- May 16 at 11:06 pm
Property Features for 3214 W 8TH Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 3
- Rooms
- Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 8, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 7, Bedroom 6
- 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
- 4014
- Expense value
- 10000
- Expense
- SecurityDeposit
- Expense freq.
- One Time
Utilities
- Sewer type
- Public Sewer
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1940
- Number of units
- 3
- Building materials
- Mixed
- Roof type
- Asphalt
Listing agent Bob List License #RS367057 (814) 504-8087
Listing office Agresti Real Estate 2635 W 26th Street, Erie, PA (814) 459-9400
Listing date Jul 30, 2025
MLS# 187140
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.
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.
- Includes a spacious 2‑bedroom loft apartment, a 4‑bedroom single‑family home, and a 2‑bedroom mobile home.
- Large storage lot, multiple garages, and additional storage units.
- Central Air cooling.
Overview
This mixed-use property is located in Erie, PA, and offers an investment opportunity. The property, known as Presque Isle Sports Ltd., features five fully rented commercial units and a spacious 2-bedroom loft apartment above the main building. Additionally, there is a separate 4-bedroom single-family home and a 2-bedroom mobile home, all currently occupied by long-term tenants. The property includes a large storage lot, multiple garages, and additional storage units, providing potential for expansion or new business ventures. The building has 6486 square feet of space and the lot size is 0.9801 acres.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$812.7K
NOI $73,143 @ 9.00% cap · cautious / downside scenario
Moderate
$1.04M
NOI $73,143 @ 7.00% cap · market / base-case scenario
Aggressive
$1.46M
NOI $73,143 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $116.7k | $18.00 |
| − Vacancy | −$12.3k | −$1.89 |
| EGI | $104.5k | $16.11 |
| − OpEx | −$31.3k | −$4.83 |
| NOI | $73.1k | $11.28 |
6,486 SF · lease $18.00/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$1.04M
$914.3K – $1.22M
NOI $73,143 @ 7.0% cap · market cap 6.10%
Second Best
Mixed Use
$938.2K
$820.9K – $1.09M
NOI $65,671 @ 7.0% cap · market cap 5.47%
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 Profile
Insight Report
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Erie
- County
- Erie
- State
- Pennsylvania
- Longitude
- -80.147422
- Latitude
- 42.104375
Nearby Similar for Sale
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.
