Listing Agency: Agresti Real Estate i***@tryagresti.com Show Phone

Listed By: Bob List · License #RS367057 Show Phone

Source: Exprealty

Added: Mar 4 Changed: Oct 7 Last Checked: Oct 16 at 2:32PM

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Investment Insights

Based on property information with market context.

This established beer distributor includes a retail component and a recently updated exterior. The property is positioned along Peach Street in Erie, Pennsylvania, with the address providing a defined commercial location for the operation.

A leased billboard adds a separate property feature alongside the retail business. The asset combines an operating beer distribution use with an additional advertising component, supporting multiple on-site commercial functions.

Key Highlights

• Established beer distributor operation
• Recently updated exterior
• Leased billboard on the property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,494

Cap Rate

6.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$509,880 $509.9K

Cap Rate 7%

$364,200 $364.2K

Cap Rate 9%

$283,267 $283.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,814 SF

Gross rent

$35.5K $19.56/SF

− Vacancy

−$1.5K −$0.82/SF

EGI

$34.0K $18.74/SF

− OpEx

−$8.5K −$4.68/SF

NOI

$25.5K $14.05/SF

Area

Erie County, PA

Vacancy

4.20%

Lease Rate

$19.56 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$509,880

Cap Rate 7%

$364,200

Cap Rate 9%

$283,267

Alternative Uses

Best Use

Specialty Retail

$364.2K

$318.7K – $424.9K (±1% cap)

NOI $25,494 @ 7.0% cap · market cap 6.00%

Second Best

Retail

$292.2K

$255.7K – $340.9K (±1% cap)

NOI $20,456 @ 7.0% cap · market cap 4.81%

Theoretical Best

Office A

$450.0K

$393.8K – $525.1K (±1% cap)

NOI $31,503 @ 7.0% cap · market cap 7.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Peach Street Beer Bar & Pub Peach Street Beer ... Big Box & Wholesale Store

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage HVAC Service Kitchen & Bath Showroom Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

771

Businesses Nearby

181k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 47% Groceries 25% Dining 21% Home Improvements & Furnishings 7%

Tops Friendly Markets Groceries

35,432 visits/mo 0.1 miles

Sheetz Shops & Services

29,109 visits/mo 0.2 miles

Dollar Tree Shops & Services

19,381 visits/mo 0.2 miles

Country Fair Shops & Services

18,432 visits/mo 0.1 miles

Burger King Dining

12,647 visits/mo 0.5 miles

Demographics for 16508, PA

15,172

Population

7,385

Households

2.1

Avg Household Size

40

Median Age

28%

College-Educated

93%

High-School Grad

2.8 sq mi

ZIP Area

5,419

Density / Sq Mi

$52,361

Median Household Income

$36,209

Median Earnings

$852

Median Rent

$121,800

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Established beer distributor with a recently refreshed exterior and a leased billboard component.

Where is this grocery and convenience store located?

The property is located at 3750 Peach St Erie, PA.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: Established beer distributor operation; Recently updated exterior; Leased billboard on the property