Property summary
This 2,732 square foot freestanding building, located at 1921 W 8th St in Erie, PA, presents a unique investment opportunity. Built in 1980 and renovated in 2019, this Class C mixed-use property sits on a 0.15-acre lot and boasts a prime location in the Presque Isle Gateway District. The property features seven office rooms (two suitable as conference rooms), a storage room, kitchenette, and a reception area with a large storefront window. Its versatile design allows for division into multiple units, thanks to additional exterior doors. The building is currently vacant and offers excellent visibility, off-street parking, and new sidewalks. Zoned RLB, this single-story structure offers ample space for a variety of businesses, making it ideal for owner-users seeking a high-traffic location. Its proximity to I-79, the Bayfront Connector, and the revitalized West Erie Plaza further enhances its appeal. The asking price is $190,000, translating to $69.55 per square foot. This represents a compelling opportunity to establish or expand a business in a thriving Erie neighborhood. The property's APN is 16-031-013.0-309.00.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
RLB Residential Limited Commercial District is primarily for residential uses, home occupations, and limited commercial uses, generally located in the developed areas along major thoroughfares or adjacent to commercial o…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
RLB · Erie, PARLB Residential Limited Commercial District is primarily for residential uses, home occupations, and limited commercial uses, generally located in the developed areas along major thoroughfares or adjacent to commercial o…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
RLB Residential Limited Commercial District is primarily for residential uses, home occupations, and limited commercial uses, generally located in the developed areas along major thoroughfares or adjacent to commercial o…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for RLB in Erie, PA.
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