2230-2232 23Rd St Erie, PA 16506
- Warehouses
- 10,000 SF
- 0.69 lot acres
Current Use by Public Records
- Warehouses
Property Details for 2230-2232 23Rd St
- Year built
- 1989
- Lot size
- 0.69 lot acres
- Property size
- 10,000 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This Erie, PA industrial property offers a compelling investment opportunity. The 10,000 square foot warehouse, built in 1989 and renovated in 2024, sits on a 0.69-acre lot and is zoned H1. Currently 100% occupied by a credit-rated tenant under a 7-year net lease (commencing June 30, 2024, and expiring May 31, 2031), offering a 7.65% cap rate and a $132,000 annual net operating income (NOI). The lease includes two five-year renewal options at fair market value. The property features a 14-foot ceiling height and a newly constructed paved bottled gas storage and loading area. Located less than two miles from Erie International Airport, this fee-simple asset presents a stable, long-term investment with significant upside potential. The property's assessed value is not provided. The asking price is $1,650,000, or $165 per square foot. The tenant's trailing twelve-month revenue exceeds $32 billion. The property's address is 2230-2232 W 23rd St, Erie, PA 16506. The APN is 33-049-194.0-034.02.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Erie
- County
- Erie
- State
- Pennsylvania
- Longitude
- -80.126
- Latitude
- 42.0961
