Downtown Office Space
For Sale
Contact for pricing
1611 Peach St, Erie, PA 16501
Highly visible office space in a multi-tenant building.
Property Size1,141 SF
Price / SF$15
Days on Market1055
Property Features for 1611 Peach St
General Information
Standard status
Active
Size
1,141 SF
Total Parking Spaces
50
Property subtype
Office
Zoning
C-2
Lease Type
Gross
Building Details
Year Built
1962
Buildings
1
Stories
4
Units
1
Listing Agency:
Glowacki Management
Listed By:
Garrett Shames · License #PA
(814) 452-3681
Source:
Crexi
Added: Nov 29, 2023
Changed: Oct 4
Last Checked: Oct 16 at 9:14AM
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 Glowacki Management
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Investment Insights
Based on property information with market context.
This office space is located in a highly visible downtown location. The multi-tenant building offers ample parking and excellent window views. The property provides an excellent location for establishing a business.
Key Highlights
- Highly visible Downtown location
- Multi‑tenant elevated building
- Ample parking for tenants and visitors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,943
Suggested Prices Based on Cap Rates
Cap Rate 5%
$298,860
$298.9K
Cap Rate 7%
$213,471
$213.5K
Cap Rate 9%
$166,033
$166.0K
Market Conditions
NOI Build-Up for 1,141 SF
Gross rent
$25.7K $22.56/SF
− Vacancy
−$5.8K −$5.10/SF
EGI
$19.9K $17.46/SF
− OpEx
−$5.0K −$4.37/SF
NOI
$14.9K $13.10/SF
Area
Erie County, PA
Vacancy
22.60%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$298,860
Cap Rate 7%
$213,471
Cap Rate 9%
$166,033
Alternative Uses
Best Use
Office B
$213.5K
$186.8K – $249.1K
NOI $14,943 @ 7.0% cap · market cap 87.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$283.1K
$247.7K – $330.3K
NOI $19,815 @ 7.0% cap · market cap 115.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,721
Businesses Nearby
Explore this area
Business Placement
Demographics for 16501, PA
2,241
Population
1,468
Households
1.5
Avg Household Size
48
Median Age
23%
College-Educated
85%
High-School Grad
0.7 sq mi
ZIP Area
3,201
Density / Sq Mi
$14,579
Median Household Income
$12,623
Median Earnings
$411
Median Rent
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office units - Highly visible office space in a multi-tenant building.
Where is this office units located?
The property is located at 1611 Peach St Erie, PA.
What are key features of this property?
This property features: Highly visible Downtown location; Multi‑tenant elevated building; Ample parking for tenants and visitors
