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3407 Liberty St Erie, PA 16508

Banks Google Maps
3,960 SF 4.46 ac lot Built 2003
Trust Owned 9-yr Hold Free & Clear
Estimated value (blended)
$375k
Range $338k – $413k (±10%)
Property ID US73-1597116

Property summary

AI-generated overview

This exceptional offering presents two contiguous commercial pad sites totaling 4.46 acres, situated within the thriving Liberty Center I retail center in Erie, Pennsylvania. Located at 3407 Liberty Street, this property boasts excellent visibility and accessibility. Site A, adjacent to Northwest Savings Bank, and Site B, fronting W. 36th Street, offer significant development potential. Each site is approximately 1.05 acres, with a combined total of up to 2.1 acres available. Both sites feature approximately 215 feet of frontage along Liberty Street and extend 212 feet deep to Poplar Street. The land is graded and previously served as an asphalt parking lot, simplifying site preparation. Public utilities are readily available. The property is zoned C-2, General Commercial District, allowing for a wide range of commercial uses. Liberty Center I is a bustling 229,805 square foot retail center, anchored by established businesses including Tops Friendly Market, Harbor Freight Tools, and Northwest Savings Bank, among many others. The asking price is $75,000 per acre per year, NNN. This presents a unique opportunity to establish a presence in a high-traffic, established commercial area. The property's location, size, and zoning make it an attractive investment for developers seeking a prime location in Erie, PA. The APN is 19-061-009.0-100.00. The property's frontage on Liberty Street is 653 feet.

Property profile

Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 2003
Construction FRAME
Total area 3,960 SF
Lot 4.46 ac (194,278 SF)
Zoning code C2
APN 19-061-009.0-100.00
UPID US73-1597116

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
  • Business Service Center Corporate Office
  • Bank Loan Service

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$360k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$375k

Owner & transaction history

since 2017
1 recorded transaction
2017
$2.3M

Zoning & alternative use

C2 · Erie, PA

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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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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