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818 STATE Street Erie, PA $ 2,250,000
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$ 2,250,000 Get more info
818 STATE Street
$ 2,250,000
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818 STATE Street

Erie, PA, 16501
$ 2,250,000
Baths0.0 Sq 30,785

Monthly Estimate*

$ 14,954

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Studio

Commercial Property for sale in Erie, PA

for $2,250,000. This 30,785 square foot building was built in 1900 on a lot size of 0.4356.

4-Unit investment property in the heart of downtown Erie. 30,785± SF building, ADA compliant with elevator service & 32+ space private parking garage. 24,328± SF gross leasable area. Dollar General occupies 12,805± SF first floor. 5,836± SF second floor finished office space with 270± SF first floor lobby. Ready to develop 3,297± SF first floor space facing W. 9th Street & 2,120± SF second floor space. Wet sprinkler system available. Situated on 2 parcels totaling 0.43± acres zoned C-3, Central Commercial District. 2023 property taxes: $28,102. Proforma income: $297,688. Proforma NOI: $256,359. Offered at 11.4% proforma cap rate. Floor plans available for unfinished first floor space & second floor.

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Commercial Active

Price

$ 2,250,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 28,102

Style

Commercial

Lot Size

0.4356

Year Built

1900

Town/City

Erie

County/Region

Erie

MLS | Web ID

166255
Features
General
Sewer PublicSewer
Possession CloseOfEscrow SubjectToTenantRights
Security Features FireSprinklerSystem
Construction Materials Masonry
Year Built 1900
Security Deposit 50000.0
Township Erie
Property SubType Commercial
Tax Year 2023
County Erie
New Construction N
Property Type CommercialSale
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Status Active
Directions Western side of State Street at middle of block between W. 8th & W. 9th Streets. Frontage on both State & W. 9th Streets.
City Erie
View Y/N N
Senior Community Y/N N
High School District City-Erie
Zoning Description C-3
MLS Area 2 - Erie Northwest
Lot Size Units Acres
Waterfront Y/N N
Carport Y/N N
Street Name STATE
Property Attached Y/N N
Year Built Details Actual
Land Lease Y/N N
Tax Annual Amount 28102.0
Home Warranty Y/N N
Property Condition Resale
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 398
Standard Status Active
Middle/Junior School District City-Erie
Elementary School District City-Erie
Tax Assessed Value 425800
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Exterior
Water Source Public
Total Parking 32.0
Lot Size Area 0.4356
Spa N
Building Area Total 30785.0
Lot Dimensions 0x0x0x0
Lot Size Acres 0.4356
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Street Suffix Street
Electric On Property Y/N N
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Internal Only
Street Number 1 818
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* Excluded Features
List By
Sbre - Sherry Bauer Real Estate Services

Broker

sbauer@sherrybauerrealestate.com

Email

Affordability Calculator

$17,296
Per Month
86%
14%
0%
Monthly Principal & Interest
$14,954
Monthly Property Taxes
$2,342
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2358928 Elementary School
2358969 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
1/22/2024$2,250,000 -13.46% Price Down
12/20/2022$2,600,000 Listed Price

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818 STATE Street, Erie, PA, 16501 is a Commercial Property for sale at $2,250,000 with 30,785 sqft and a lot size of 0.4356. 818 STATE Street is a studio with 0.0 baths and was built in 1900. The property's zip code is 16501 which is in Erie, PA

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