603 21st St Erie, PA 16503-2174
This unique 6,454 square foot property at 603 E 21st Street, Erie, PA 16503, presents a compelling redevelopment opportunity. Currently vacant, this expansive site encompasses five parcels totaling 0.57 acres and includes a former funeral home comprised of two combined houses and a large garage. The main structure offers significant interior space, previously configured to accommodate the funeral home's operational needs. The building features two separate second-floor apartments, adding to its versatility. A substantial garage and a dedicated work room are also included, providing ample storage or workshop space. The property boasts several large parking lots, a significant advantage for various commercial uses. Zoned R-2 within the City of Erie, the property's permitted uses are detailed in the attached documents. Given its size, existing structures, and ample parking, this property is adaptable to a wide range of commercial ventures. The asking price is $164,000. The provided assessment and tax information reflects the combined value of all five parcels. This is a rare opportunity to acquire a substantial commercial property in a desirable Erie location.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
R2 · Erie, PAErie. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.