10 4Th St Erie, PA 16507
- Office Properties & Spaces
- 38,241 SF
Current Use by Public Records
- Modern Tool Realty / Real Estate Agency / Property Management Company
Property Details for 10 4Th St
- Year built
- 1900
- Construction
- WOOD FRAME
- Property size
- 38,241 SF
- Zone code
- C3
- Property type
- Office Properties & Spaces
- APN
- 14-010-003.0-100.65
- APU
- 14010003010065
Description
This exceptional three-story, 83,791 square foot office building, constructed in 1900, presents a unique investment opportunity in Erie's thriving Central Business District. Located on State Street, with convenient access to major thoroughfares, this property boasts 21 suites, offering flexible spaces ranging from 567 to 4,811 square feet, suitable for traditional office, coworking, or creative office uses. The building is undergoing significant exterior and infrastructure improvements under new ownership and management, reflecting a commitment to revitalizing this historic landmark. Its prime location offers unparalleled access to key Erie attractions, including UPMC Hamot, Bayfront/Dobbins Landing, Erie Insurance, the Warner Theatre, UPMC Park, the Erie Art Museum, and Gannon University. The C-3 zoning allows for a variety of commercial uses. This is a chance to be part of the exciting renaissance of Erie's downtown, in a building steeped in history and poised for a bright future. Five spaces are currently available. The property's Erie County location, within the Heart of Erie's Commercial Business District submarket, ensures high visibility and accessibility. The APN is 14-010-003.0-100.65. This is a rare opportunity to secure space in a landmark building undergoing substantial upgrades.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $6,240,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $6,780,000
- 6.5%
- $5,745,000
- 7%
- $6,035,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $6,575,000
- Geo Method
- $5,900,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $5,390,000
- Retail
- $6,600,000
- Mixed-Use
- $7,035,000
- Hospitality
- $6,540,000
- Educational
- $5,570,000
- Residential Income
- $6,820,000
- Energy
- $6,730,000
- Income-Based Land
- $6,590,000
- Food Service
- $6,000,000
Location Insight
- Map
- Local Demand
- City
- Erie
- County
- Erie
- State
- Pennsylvania
- Longitude
- -80.0865
- Latitude
- 42.1316
- CBSA code
- 21500
- CBSA name
- ERIE, PA METROPOLITAN STATISTICAL AREA