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Building Details

Building Size 12,153 SF

Construction block

Listing Agency: Coldwell Banker Select - Airport Show Phone

Listed By: Stephanie Montgomery · License #RS341122 Show Phone

Source: Exprealty

Added: Oct 9 Changed: Oct 15 Last Checked: Oct 15 at 2:36AM

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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 Coldwell Banker Select - Airport

Investment Insights

Based on property information with market context.

This flex property contains 12,153 square feet on 2.31 acres, with 12,153 square feet of warehouse and shop space and 1,953 square feet of professional office area. Block construction, an overhead door, and gas heat are among the building features. Public water and sewer serve the site, which is zoned IP.

Located at 8150 Hawthorne Dr in Erie, the property is within Baldwin Industrial Park. The configuration includes dedicated work and office areas, with space suited to functions such as contractor operations, warehousing, light manufacturing, or training.

Key Highlights

• 12,153‑square‑foot building on 2.31 acres
• 12,153 SF of warehouse and shop space
• 1,953 SF of professional office area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$75,163

Cap Rate

7.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,503,260 $1.5M

Cap Rate 7%

$1,073,757 $1.1M

Cap Rate 9%

$835,144 $835.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,153 SF

Gross rent

$115.2K $9.48/SF

− Vacancy

−$7.8K −$0.64/SF

EGI

$107.4K $8.84/SF

− OpEx

−$32.2K −$2.65/SF

NOI

$75.2K $6.18/SF

Area

Erie County, PA

Vacancy

6.80%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,503,260

Cap Rate 7%

$1,073,757

Cap Rate 9%

$835,144

Alternative Uses

Best Use

Warehouse

$1.30M

$1.14M – $1.52M (±1% cap)

NOI $91,270 @ 7.0% cap · market cap 9.61%

Second Best

Industrial

$1.07M

$939.5K – $1.25M (±1% cap)

NOI $75,163 @ 7.0% cap · market cap 7.91%

Theoretical Best

Office A

$3.02M

$2.64M – $3.52M (±1% cap)

NOI $211,054 @ 7.0% cap · market cap 22.22%

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

Property Analytics

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Current Use

Plumbers Local 27 Plumbing Service

Suggested Use

Top Pick Real Estate Agency HVAC Service Dental Office Electrical Service Garden Center Parking Lot & Garage

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

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

86

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 16509, PA

28,005

Population

12,900

Households

2.2

Avg Household Size

44

Median Age

37%

College-Educated

95%

High-School Grad

38.2 sq mi

ZIP Area

733

Density / Sq Mi

$68,880

Median Household Income

$41,143

Median Earnings

$1,074

Median Rent

$207,500

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - A block-built facility combines warehouse and shop area with professional offices, an overhead door, and IP zoning.

Where is this flex space located?

The property is located at 8150 Hawthorne Dr Erie, PA.

What is the asking price?

The asking price for this property is $949,900.

What are key features of this property?

This property features: 12,153‑square‑foot building on 2.31 acres; 12,153 SF of warehouse and shop space; 1,953 SF of professional office area