Retail Space with Billboard
For Sale
$425,000
Pending
3750 PEACH Street, Erie, PA 16508
CommercialSale, Erie, PA
Property Size1,814 SF
Lot Size0.26 Acres
Days on Market181
Property Features for 3750 PEACH Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
R-1
Elementary school district
City-Erie
Middle school district
City-Erie
High school district
City-Erie
Directions
Head east on W 38th St toward Peach St, Take a right and continue straight on Peach Street, Property will be on your right
Subdivision
3 - Erie Southwest
Standard status
Pending
APN
19-061-007.0-223.00
Size
1,814 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7969
Expense value
15000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Gas (Cooling), Central Air
Water source
Public
Building Details
Year built
1951
Building materials
Mixed
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Bob List · License #RS367057
(814) 504-8087
Added: Mar 4
Changed: Aug 30
Last Checked: Sep 1 at 2:06PM
MLS# 189816
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 1,814-square-foot retail property occupies a 0.2645-acre parcel at 3750 Peach Street in Erie. The site has supported an established beer distributor operation, and the exterior was recently updated. The property was built in 1951 and includes forced-air heating with natural gas, central air conditioning, public water, and public sewer service.
A leased billboard provides a separate income component alongside the retail operation. The property is offered for sale and combines an operating commercial use with an additional advertising asset. Its mixed construction materials and existing building improvements support continued retail use, subject to applicable requirements.
A leased billboard provides a separate income component alongside the retail operation. The property is offered for sale and combines an operating commercial use with an additional advertising asset. Its mixed construction materials and existing building improvements support continued retail use, subject to applicable requirements.
Key Highlights
- 1,814‑square‑foot retail property on a 0.2645‑acre parcel
- Established beer distributor operation with recently updated exterior
- Leased billboard provides a separate income component
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
$20,456
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
4.81%
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%
$409,120
$409.1K
Cap Rate 7%
$292,229
$292.2K
Cap Rate 9%
$227,289
$227.3K
Market Conditions
NOI Build-Up for 1,814 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
$32.7K $18.00/SF
− Vacancy
−$3.4K −$1.89/SF
EGI
$29.2K $16.11/SF
− OpEx
−$8.8K −$4.83/SF
NOI
$20.5K $11.28/SF
Area
Erie County, PA
Vacancy
10.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$409,120
Cap Rate 7%
$292,229
Cap Rate 9%
$227,289
Alternative Uses
Best Use
Retail
$292.2K
$255.7K – $340.9K
NOI $20,456 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$450.0K
$393.8K – $525.1K
NOI $31,503 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
181k
Monthly Visits Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Established beer distributor with a recently refreshed exterior and an additional leased billboard revenue stream.
Where is this retail space located?
The property is located at 3750 PEACH Street 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: 1,814‑square‑foot retail property on a 0.2645‑acre parcel; Established beer distributor operation with recently updated exterior; Leased billboard provides a separate income component
