Mixed-Use Income
3214 W 8TH Street Erie, PA 16505
For Sale
$1,200,000
COMMERCIAL - Erie, PA
Property Size6,486 SF
Lot Size0.98 Acres
Price / SF$185.01
Days on Market364
Property Features for 3214 W 8TH Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
8
Bathrooms
3
Rooms
Bedroom 5, Bedroom 7, Bathroom 1, Bedroom 8, Bedroom 2, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 1
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 Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Bob List · License #RS367057
(814) 504-8087
Added: Jul 30, 2025
Changed: Jul 24
Last Checked: Jul 28 at 2:06AM
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.
Investment Insights
Based on property information with market context.
This mixed-use property in Erie, Pennsylvania includes five fully rented commercial units in the main building, along with a spacious 2-bedroom loft apartment above. The offering also includes a separate 4-bedroom single-family home and a 2-bedroom mobile home, each described as having long-term tenants in place.
In addition to the rental units, the property includes a large storage lot, multiple garages, and additional storage units. The total setup is designed to support both existing income streams and further use of the onsite storage and outbuildings.
The property is presented as a turn-key option for an owner seeking a consolidated mix of commercial, residential, and storage space within one combined asset.
In addition to the rental units, the property includes a large storage lot, multiple garages, and additional storage units. The total setup is designed to support both existing income streams and further use of the onsite storage and outbuildings.
The property is presented as a turn-key option for an owner seeking a consolidated mix of commercial, residential, and storage space within one combined asset.
Key Highlights
- Five fully rented commercial units with long‑term tenants plus additional rental space on the property
- 2‑bedroom loft apartment above the main building
- Separate 4‑bedroom single‑family home
Financial Insights For Retail
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 | −$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 Uses
Best Use
Retail
$1.04M
$914.3K – $1.22M
NOI $73,143 @ 7.0% cap · market cap 6.10%
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 authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- East Harlem Florist - Flower Delivery Erie PA — 800 w erie plaza dr, erie, pa 16505
Frequently Asked Questions
What type of property is this?
Storefront property - Mixed-use building offering five rented commercial units plus multiple residential and storage components.
Where is this storefront 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: Five fully rented commercial units with long‑term tenants plus additional rental space on the property; 2‑bedroom loft apartment above the main building; Separate 4‑bedroom single‑family home
