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    2005 8Th St Erie, PA 16505

    Sponsored
    For Sale
    $1,400,000

    Prime Erie location, 16,945 SF office condo

    Property size:
    16,945 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional commercial condominium, located on Erie's heavily traveled 8th Street corridor, presents a unique investment opportunity. The property encompasses 16,945 square feet and includes ten commercial units, allowing for both owner-occupancy and rental income generation. The building, constructed in 1968, features modern finishes, is well-maintained, and is move-in ready. Amenities include elevator access, key FOB security, and ample parking. Its convenient location near major highways and public transportation ensures high foot traffic and easy accessibility. The property is zoned C-1 and boasts two gas wells. The asking price is $1,400,000. Taxes and assessed value reflect the combined total of all parcels. This is a rare chance to acquire a premium commercial property in a highly desirable Erie area. A detailed list of included spaces is available.

    Property Features for 2005 8Th St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    16,945 SF

    Building Details

    Year Built
    1968
    Buildings
    1
    Stories
    1
    Units
    10

    HighLights

    • Exceptional 16,945 SF commercial condo investment opportunity on Erie's 8th Street corridor.
    • Ten commercial units allow for owner‑occupancy and rental income.
    • 1968 construction with modern finishes, move‑in ready condition, and elevator access.
    • Key FOB security and ample parking.
    • Convenient location near major highways and public transportation, C‑1 zoning.
    • Includes two gas wells; asking price $1,400,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gaudenzia Erie Addiction Treatment Center A Compassionate Hart Massage ... Massage Therapist LA Portable Toilets Portable Toilet Supplier Lake Erie Psychiatry ... Mental Health Clinic The Daily Record Information Services

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.128059680987
    Latitude
    42.111221499814

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Erie location, 16,945 SF office condo
    Where is this office property / space located?
    The property is located at 2005 8Th St Erie, PA.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Exceptional 16,945 SF commercial condo investment opportunity on Erie's 8th Street corridor.; Ten commercial units allow for owner-occupancy and rental income.; 1968 construction with modern finishes, move-in ready condition, and elevator access.
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    2005 8Th St Erie, PA 16505
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    Erie, PA 16505
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    Realmo Value Estimation

    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.

    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.

    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
    2005 8Th St Erie, PA 16505
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