Property profile

1101 Peninsula Dr Erie, PA 16505

OFF-MARKET
Neighborhood centers
54,733 SF 3.73 ac lot Built 2001
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Property summary

AI-generated overview

Peninsula Plaza in Erie, Pennsylvania offers 2,157 square feet of mixed-use space available for lease. This single-story, Class B building, constructed in 2001, is part of a larger plaza with a total of 54,733 square feet and ten suites. The space is currently configured as a salon, featuring a lobby, a large open area with a gas fireplace and ventilation system, two treatment rooms (one with a sink), a break room with laundry facilities, and two restrooms. Floor plans are available upon request. The property boasts abundant free parking with 191 paved spaces and excellent visibility along a high-traffic corridor, with over 33,000 vehicles daily passing by on W. 12th Street and Peninsula Drive (based on 2022 PennDOT counts). Peninsula Plaza enjoys a prime location at 1101 Peninsula Dr, Erie, PA 16505, and is situated on a 3.73-acre lot. The property is zoned R-C, Resort Commercial, allowing for various uses including office and retail. The asking rent is $14.50 per square foot per year, with estimated NNN charges of $3.30 per square foot per year (based on 2023 estimates). The total monthly expense for rent and NNN is approximately $3,200, plus utilities. A minimum five-year lease is required. Additionally, a turnkey salon setup, including the business name, assets, equipment, inventory, websites, and phone number, is available for an additional $15,000. The property's address is 1101 Peninsula Dr, Erie, PA 16505, and its APN is 33-034-058.0-009.00. The plaza is home to a variety of established businesses, including CVS, Domino's, and several other local businesses.

Property profile

Verified
Property type Neighborhood centers
Year built 2001
Total area 54,733 SF
Lot 3.73 ac (162,479 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Training Center
  • Engineer Engineering Consultant
  • Spa & Massage Center
  • Pediatrician Physician
  • Business Service Center Corporate Office

Location

1101 Peninsula Dr Erie, PA 16505
Erie metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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