Property profile

3123 State St Erie, PA 16508

OFF-MARKET
Office buildings
Property ID
US73-5821323
4,732 SF 0.2 ac lot Built 1955
Entity Owned 1-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 4,732 square foot office building in Erie, Pennsylvania, presents a fantastic investment opportunity. Situated on a highly visible 0.2-acre corner lot, the property boasts ample parking with seven spaces in a paved lot. The building features a well-designed layout, offering 2,366 square feet on the main floor and an equally sized 2,366 square foot finished lower level. The main floor includes a welcoming reception area, spacious open workspace, seven private offices, a convenient meeting room, and a fully equipped coffee bar with a sink, complemented by three restrooms. The lower level provides additional flexibility with two offices, open workspace, three storage rooms, a break room, and two more restrooms. The property's RLB zoning allows for a diverse range of uses, including office space, medical facilities, or daycare centers. Excellent signage opportunities further enhance its appeal. A floor plan is available upon request. This property offers a rare combination of size, location, and versatility, making it an ideal choice for a variety of businesses. Don't miss this chance to acquire a prime commercial property in a thriving Erie location.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1955
Construction WOOD
Total area 4,732 SF
Lot 0.2 ac (8,690 SF)
Zoning code RLB
APN 18-050-088.0-116.00
UPID US73-5821323

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Insurance Agency

Location

3123 State St Erie, PA 16508-2819
Erie metro Census 2500 ERIE, PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$270k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$270k

Owner & transaction history

since 2025
Last sale
$280,000
4 recorded transactions
2025
$280,000
2023
Price N/A
2008
$2,830
2007
$138,670

Zoning & alternative use

RLB · Erie, PA
Zoning description

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…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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