Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    800 W Erie Plaza Dr Erie, PA 16505

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Open-air retail center with classic design and vibrant atmosphere.

    Type:Retail, Restaurant
    Added:
    Oct 30, 2024
    Days on Market:
    533
    Last Refresh:
    Mar 17 at 1:22 pm

    Property Features for 800 W Erie Plaza Dr

    General Information

    Standard status
    Active
    Property subtype
    Retail, Restaurant

    Spaces For Lease

    at 800 W Erie Plaza Dr Contact us

    We can help!

    Listing Contact
    Jose Raymundo

    Listing agent Jose Raymundo License #AB068872

    Listing office JLL - Pittsburgh, Pennsylvania

    Listing date Oct 30, 2024

    Source Crexi

    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 JLL - Pittsburgh, Pennsylvania

    Overview

    Premier Retail Center in Erie

    Located in Erie, this open-air retail center, known as West Erie Plaza, features a mid-century design integrated with arts and culture elements. The property includes storefronts and a green space.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Pittsburgh Commons — 2207 W 12th St, Erie, PA 16505
    • Coinstar Kiosk | Bitcoin ATM — Giant Eagle, 2501 W 12th St, Erie, PA 16505
    • Yorktown Commons — Yorktown Center Dr, Erie, PA 16505
    • Quick-Tag — Pet Supplies Plus, 1010W W Erie Plaza Dr, Erie, PA 16505
    • Yorktown Centre — 2525 W 12th St, Erie, PA 16505

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.1558
    Latitude
    42.108

    Nearby Similar for Lease

    • $12/mo

      Erie Retail Space For Rent

      Commercial space in high-traffic Harbor Creek area.
      4751 BUFFALO Road, Erie, PA 16510
      View Details
    • $1,899,900/mo

      Revitalized Mixed-Use Historic Building

      Downtown Erie mixed-use property with retail and residential/office potential.
      502/506 STATE Street, Erie, PA 16501
      View Details
    • $14/mo

      Erie Retail/Restaurant Space Available

      High-traffic location suitable for retail or restaurant uses.
      861 E 38TH Street, Erie, PA 16504
      View Details
    • Contact for pricing

      Erie Commercial Space For Rent

      Commercial garage with office area available for rent in Erie.
      4336 W RIDGE Road, Erie, PA 16506
      View Details
    • $17/mo

      Furnished Office Suite in Erie

      Furnished office suite with conference room, kitchenette, and free parking.
      4701 OLD ZUCK Road, Erie, PA 16506
      View Details
    • $12/mo

      Erie, PA Office/Retail Space

      2,000 SF office or retail space for lease.
      2340 W GRANDVIEW Boulevard unit: 10, Erie, PA 16506
      View Details
    • $14/mo

      Mixed-Use Space in Downtown Erie

      8,135 SF mixed-use space in downtown Erie, PA.
      1700 Peach St Ste 126b, Erie, PA, 16501-2134
      View Details
    • Contact for pricing

      Retail Pad Site For Lease

      Outparcel pad site available for lease at Liberty Center I.
      712 W 38th St, Erie, PA
      View Details
    • Contact for pricing

      Erie Office Space Available

      Office space available for lease in Erie, Pennsylvania.
      2711 Legion Rd, Erie, PA
      View Details
    • Contact for pricing

      Single Room Office Suite

      337 SF office suite available for lease.
      2820 W 23rd St, Erie, PA
      View Details
    • $15/mo

      Erie Office Suite For Lease

      2,400 SF office suite with high visibility and ample parking.
      2401 W 26th St, Erie, PA
      View Details
    • $27/mo

      Unfurnished Office Suite For Rent

      Unfurnished 165 SF office suite with shared amenities.
      2730 W 21st St, Erie, PA
      View Details

    FAQs

    What type of property is this?
    Shopping center - Open-air retail center with classic design and vibrant atmosphere.
    Where is this shopping center located?
    The property is located at 800 W Erie Plaza Dr Erie, PA.
    What are key features of this property?
    This property features: Premier retail center in Erie; Open‑air town center design; Combines mid‑century design with arts and culture
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jose Raymundo
    Real Estate License ID: AB068872
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!