1040 12Th St Erie, PA 16501
- Warehouses
- 19,134 SF
- 0.38 lot acres
Current Use by Public Records
- Warehouses
Property Details for 1040 12Th St
- Year built
- 1979
- Construction
- FRAME
- Lot size
- 0.38 lot acres
- Property size
- 19,134 SF
- Zone code
- M2
- Property type
- Warehouses
- APN
- 16-030-051.0-136.00
- APU
- 16030051013600
Description
This exceptional commercial property, located at 1040 W 12th Street in Erie, PA, presents a unique investment opportunity. The property encompasses a substantial 25,929 square feet of space, strategically situated on a 0.59-acre lot. Its prime location offers convenient access to I-79, ensuring seamless transportation and logistics. The property comprises two interconnected buildings, separated by a fire-safe door, providing flexibility for various business models. One option is to utilize the entire 25,929 square feet for a single operation, while another is to occupy one building and lease the other for supplemental income. The property boasts two overhead doors and one loading dock, facilitating efficient loading and unloading of goods. Power is abundant, with two 400-amp, 3-phase electrical service panels. Adding to its versatility, the property includes 4,847 square feet of finished office space on the second floor, accessible from the 12th Street side. This space is ideal for administrative functions or executive offices. The property's size, location, and features make it an attractive option for a wide range of businesses seeking a well-equipped and strategically located industrial space in Erie, Pennsylvania. The asking price is $590,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $320,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $275,000
- 6.5%
- $245,000
- 7%
- $230,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $260,000
- Geo Method
- $245,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $220,000
- Retail
- $250,000
- Mixed-Use
- $250,000
- Hospitality
- $210,000
- Educational
- $235,000
- Residential Income
- $285,000
- Energy
- $210,000
- Income-Based Land
- $210,000
- Food Service
- $285,000
Location Insight
- Map
- Local Demand
- City
- Erie
- County
- Erie
- State
- Pennsylvania
- Longitude
- -80.1036
- Latitude
- 42.1157
- CBSA code
- 21500
- CBSA name
- ERIE, PA METROPOLITAN STATISTICAL AREA