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    707 38Th St Erie, PA 16509

    For Lease
    $18 SF/Yr ($11,505 /Mo)

    Erie, PA retail space: prime location, multiple suites.

    Lot size:
    7,670 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    Liberty Center II, located at 707 W 38th St, Erie, PA 16509, presents a compelling investment opportunity in a thriving retail corridor. This single-story, 7,670 square foot building, constructed in 1962 and classified as Class B, sits on a 0.7-acre lot (APN 19-061-011.0-205.00) and is zoned C-3. The property features five suites, with three currently available. One immediately available in-line suite offers approximately 1,422 square feet, previously occupied by a mobile phone store. An endcap unit, currently housing The UPS Store, will become available in December 2024, offering approximately 1,517 to 3,076 square feet. Additionally, a 1,559 to 3,076 square foot turn-key restaurant space is available. Rental rates range from $18.00 to $23.09 per square foot per year, net, net, net (NNN), with estimated NNN fees of $4.06 per square foot based on 2023 figures. This property benefits from high visibility along a major retail and service corridor, boasting 21,000 average annual daily traffic (AADT) on Peach Street and 19,000 AADT on W. 38th Street (PennDOT 2022 data). Its convenient location is also served by public transportation. Liberty Center II is part of a larger plaza anchored by established businesses including Tops Friendly Market, Harbor Freight Tools, Dollar Tree, and many others, ensuring high foot traffic and a strong tenant base. Up to 14,761 square feet of space is potentially available. 3D tours and floor plans are available for most units.

    Property Features for 707 38Th St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    7,670 SF
    Class
    B
    Total Rate
    11505

    Building Details

    Year Built
    1962
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    713 W. 38th Street
    Size
    1,422 SF
    Rate per SF
    $18
    Space
    707 W. 38th Street
    Size
    1,517 SF
    Rate per SF
    $18
    Space
    709 W. 38th Street
    Size
    1,559 SF
    Rate per SF
    $23

    HighLights

    • 1,422± SF to 3,076± SF of mixed‑use and restaurant space available.
    • Liberty Center II, a five‑unit, 7,670± SF retail center.
    • High visibility on a high‑traffic corridor.
    • 21,000 AADT on Peach Street and 19,000 AADT on W. 38th Street (PennDOT 2022).
    • Accessible from Peach and W. 38th Streets, and on a bus route.
    • 1,422± SF inline suite (former mobile phone store).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The UPS Store Shipping And Mailing Service BuffTutor - University & High ... Tutoring Service Engine Wiring Manufacturer Shred Nations Shredding Service Goodwill Construction General Contractor

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.083414578656
    Latitude
    42.095928451454

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    FAQs

    What type of property is this?
    Restaurant - Erie, PA retail space: prime location, multiple suites.
    Where is this restaurant located?
    The property is located at 707 38Th St Erie, PA.
    What is the lease rate?
    The lease rate is $18-$23 SF/Yr.
    What are key features of this property?
    This property features: 1,422± SF to 3,076± SF of mixed-use and restaurant space available.; Liberty Center II, a five-unit, 7,670± SF retail center.; High visibility on a high-traffic corridor.
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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
    707 38Th St Erie, PA 16509
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