Flex Warehouse with Office
For Sale
$499,900
3419 Shannon Rd, Erie, PA 16510
Flex building combines office space with warehouse storage and four 11-foot overhead garage doors.
Property Size4,000 SF
Price / SF$124.98
Days on Market88
Property Features for 3419 Shannon Rd
General Information
Standard status
Active
Size
4,000 SF
Warehouse & Industrial
Clear Height
12.5 ft
Drive-In Doors
4
Taxes and HOA fees
Annual Taxes
$4,081
Listing Agency:
Marsha Marsh RES Peach
(814) 866-8840
Listed By:
Scott Jackson · License #RS359454
(814) 413-6696
Source:
Exprealty
Added: Jun 18
Changed: Sep 4
Last Checked: Sep 12 at 11:34AM
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 Marsha Marsh RES Peach
Investment Insights
Based on property information with market context.
This flex warehouse property includes a 4,000-square-foot building with 12'6" ceilings and four 11-foot tall overhead garage doors. The layout supports a combination of office and warehouse use, with office area heated by wall heaters and additionally served by mini-split units for air-conditioning and heat.
A detached 26' x 26' two-car garage provides supplementary enclosed space for storage, workspace, or equipment housing. The property is described as being located on the Harborcreek–Wesleyville line with high visibility along Shannon Rd, and it offers convenient access to major transportation routes and surrounding commercial development.
Commercial zoning is noted as allowing a wide range of potential and future opportunities, with deed restrictions requiring review. The seller also discloses an on-site gas well supplying free gas for two high-efficiency wall heaters that heat the majority of the office area.
A detached 26' x 26' two-car garage provides supplementary enclosed space for storage, workspace, or equipment housing. The property is described as being located on the Harborcreek–Wesleyville line with high visibility along Shannon Rd, and it offers convenient access to major transportation routes and surrounding commercial development.
Commercial zoning is noted as allowing a wide range of potential and future opportunities, with deed restrictions requiring review. The seller also discloses an on-site gas well supplying free gas for two high-efficiency wall heaters that heat the majority of the office area.
Key Highlights
- Just under one‑acre commercial property on the Harborcreek–Wesleyville line in high‑visibility area
- 4000 SF building with 12'6" ceilings and 4 overhead garage doors, each 11' tall
- Office‑and‑warehouse layout suited for contractors, storage, distribution, or service businesses
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,040
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$600,800
$600.8K
Cap Rate 7%
$429,143
$429.1K
Cap Rate 9%
$333,778
$333.8K
Market Conditions
NOI Build-Up for 4,000 SF
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.
Gross rent
$37.9K $9.48/SF
− Vacancy
−$2.6K −$0.64/SF
EGI
$35.3K $8.84/SF
− OpEx
−$5.3K −$1.33/SF
NOI
$30.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$600,800
Cap Rate 7%
$429,143
Cap Rate 9%
$333,778
Alternative Uses
Best Use
Warehouse
$429.1K
$375.5K – $500.7K
NOI $30,040 @ 7.0% cap · market cap 6.01%
Second Best
Industrial
$353.4K
$309.2K – $412.3K
NOI $24,739 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$992.4K
$868.3K – $1.16M
NOI $69,466 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12 ft
Clear height
4
Drive-in doors
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 16510, PA
24,515
Population
10,354
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
92%
High-School Grad
33.0 sq mi
ZIP Area
743
Density / Sq Mi
$64,938
Median Household Income
$40,064
Median Earnings
$796
Median Rent
$158,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex building combines office space with warehouse storage and four 11-foot overhead garage doors.
Where is this flex space located?
The property is located at 3419 Shannon Rd Erie, PA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Just under one‑acre commercial property on the Harborcreek–Wesleyville line in high‑visibility area; 4000 SF building with 12'6" ceilings and 4 overhead garage doors, each 11' tall; Office‑and‑warehouse layout suited for contractors, storage, distribution, or service businesses
