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Financial
Distress signals
Property profile

2005 W 8Th St Erie, PA 16505

FOR SALE
Office Spaces
Property ID
US73-0073020
727 SF 0.02 ac lot Built 1968
Last sale Jan 2025 · $1,514,477
Entity Owned Owner of record is a legal entity (LLC / corporation). 1-yr Hold Held for 1 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Market Trends Soon
2005 W 8Th St, Erie, PA 16505 For Sale
$1,400,000 727 SF
2005 W 8Th St, Erie, PA 16505
View Listing

Property summary

AI-generated overview

This exceptional commercial condominium, located on Erie's heavily traveled 8th Street corridor, presents a unique investment opportunity. The property encompasses 16,945 square feet and includes ten commercial units, allowing for both owner-occupancy and rental income generation. The building, constructed in 1968, features modern finishes, is well-maintained, and is move-in ready. Amenities include elevator access, key FOB security, and ample parking. Its convenient location near major…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$1k
Tax billed · 2023
Assessed value · 2024$37k
Assessed improvement$37k
Effective rate3.81%

Value estimate

· Oct 2026
$190k
$171k – $209k
NOI build-up
Gross scheduled income$360k
Vacancy & credit loss−$38k
Operating expenses−$97k
NOI · 16.11% cap applied$226k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$82/SF
Submarket average, outlier-cleaned · 56 recorded sales of this use type
Observed band · Q1–Q3$39 – $145

Cap rate analysis

How does the asset earn?
16.11%
$226k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
R2
JurisdictionERIE

Location intelligence

Which uses thrive at this corner?
Best fit: Parking Facility
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Parking Facility10.9
Bakery9.6
Computer & Electronic Repair9.2

Location

2005 W 8Th St Erie, PA 16505
County assessor Recorded deeds · 8 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
3854 20th, Erie, PA 16505-3340 $78,000 Sep 2024 1,825 SF
4656 12th, Erie, PA 16505-3008 $900,000 Oct 2019 7,427 SF
2061 8th, Erie, PA 16505-4741 $525,000 Jun 2019 1,260 SF
2055 8th, Erie, PA 16505-4741 $525,000 Jun 2019 1,260 SF
2059 8th, Erie, PA 16505-4741 $525,000 Jun 2019 1,440 SF
2741 8th, Erie, PA 16505-4035 $750,000 Dec 2018 5,340 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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