Corner Mixed-Use Building with
For Sale
$315,000
3567 W 26TH Street, Erie, PA 16506
Mixed-use building with a 512 SF storefront, renovated residence, and 9-car parking on a corner lot at a signalized intersection.
Property Size2,010 SF
Lot Size0.27 Acres
Price / SF$156.72
Days on Market148
Property Features for 3567 W 26TH Street
General Information
Standard status
Active
Size
2,010 SF
Total Parking Spaces
9
Lot size
0.27 Acres
Property subtype
General Commercial
Zoning
MU-2
Site & Location
Traffic Count
19,000 vehicles/day
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,007
Amenities
Central Air, Gas
3
10 Parking Spaces.
85x127x0x0
Building Details
Year Built
1920
Listing Agency:
SBRE - Sherry Bauer Real Estate Services
(814) 460-2000
Listed By:
Sherry Bauer Real Estate Services · License #RM422666
(814) 460-2000
Source:
Xome
Added: Mar 30
Changed: Aug 24
Last Checked: Aug 23 at 3:41PM
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
Investment Insights
Based on property information with market context.
This for-sale mixed-use property features a 512 SF commercial storefront and a connected 3-bedroom residence. The storefront includes an open area, restroom, kitchenette, and gas forced air heat with central air conditioning. The residence has been recently renovated and includes a newer kitchen, open floor plan for kitchen/dining/living with a gas fireplace, plus a sun room, patio, basement, attached garage, and fenced dog run.
The building sits on a 0.27± acre corner lot along the W. 26th Street corridor at a signalized intersection. The site has 9-car parking and curb cuts on both W. 26th Street and Caughey Road, offering flexibility for additional driveway and/or parking configuration.
Both units have separate electric meters and are served by gas forced air heat and central air conditioning. The property is zoned MU-2 (Corridor Mixed Use), and the layout is described as suitable for redevelopment options that could support additional first-floor commercial space and second-floor office/storage, with a floor plan available upon request.
The building sits on a 0.27± acre corner lot along the W. 26th Street corridor at a signalized intersection. The site has 9-car parking and curb cuts on both W. 26th Street and Caughey Road, offering flexibility for additional driveway and/or parking configuration.
Both units have separate electric meters and are served by gas forced air heat and central air conditioning. The property is zoned MU-2 (Corridor Mixed Use), and the layout is described as suitable for redevelopment options that could support additional first-floor commercial space and second-floor office/storage, with a floor plan available upon request.
Key Highlights
- 2,010± SF mixed‑use building on a 0.27± acre corner lot at a signalized intersection on W. 26th Street (19,000 ADT, PennDOT 2024).
- 512± SF commercial storefront (formerly a salon) with open area, restroom, kitchenette, and a 9‑car parking lot.
- Recently renovated connected 3‑bedroom, 1.5‑bath residence with newer kitchen, open kitchen/dining/living layout, gas fireplace, sun room, patio, basement, attached garage, and fenced dog run.
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
$26,323
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
8.36%
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%
$526,460
$526.5K
Cap Rate 7%
$376,043
$376.0K
Cap Rate 9%
$292,478
$292.5K
Market Conditions
NOI Build-Up for 2,010 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
$45.3K $22.56/SF
− Vacancy
−$10.2K −$5.10/SF
EGI
$35.1K $17.46/SF
− OpEx
−$8.8K −$4.37/SF
NOI
$26.3K $13.10/SF
Area
Erie County, PA
Vacancy
22.60%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
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%
$526,460
Cap Rate 7%
$376,043
Cap Rate 9%
$292,478
Alternative Uses
Best Use
Office B
$376.0K
$329.0K – $438.7K
NOI $26,323 @ 7.0% cap · market cap 8.36%
Second Best
Retail
$323.8K
$283.3K – $377.8K
NOI $22,667 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$498.7K
$436.3K – $581.8K
NOI $34,906 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 16506, PA
23,918
Population
10,309
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
96%
High-School Grad
13.6 sq mi
ZIP Area
1,759
Density / Sq Mi
$84,021
Median Household Income
$47,823
Median Earnings
$1,176
Median Rent
$224,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with a 512 SF storefront, renovated residence, and 9-car parking on a corner lot at a signalized intersection.
Where is this mixed-use property located?
The property is located at 3567 W 26TH Street Erie, PA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 2,010± SF mixed‑use building on a 0.27± acre corner lot at a signalized intersection on W. 26th Street (19,000 ADT, PennDOT 2024).; 512± SF commercial storefront (formerly a salon) with open area, restroom, kitchenette, and a 9‑car parking lot.; Recently renovated connected 3‑bedroom, 1.5‑bath residence with newer kitchen, open kitchen/dining/living layout, gas fireplace, sun room, patio, basement, attached garage, and fenced dog run.
