2018 38Th St Erie, PA 16510

College Plaza, a 7-unit commercial strip plaza located at 2018 E 38th Street, Erie, PA, presents a compelling investment opportunity. This 19,868 square foot center boasts approximately 19,400 square feet of rentable space, situated on a 2.18-acre corner lot. Built in 1987, the property benefits from public utilities and convenient access via a public bus route, with curb cuts from both E. 38th Street and McCain Avenue. High visibility is ensured by 288 feet of frontage along E. 38th Street, a road with an average daily traffic count of 15,000 (PennDOT 2023 data), and an additional 330 feet of frontage on McCain Avenue. Ample parking is provided with 129 spaces in a private lot. Currently, the tenant mix includes Dollar Tree, On The Avenue Salon, Sun Capsule, and Jade Garden. The property enjoys a 79.9% occupancy rate and a projected net operating income (NOI) of $175,772, representing a 10.8% pro-forma capitalization rate. Its location within one mile of major retailers such as Taco Bell, Dollar General, Tops Friendly Markets, McDonald's, Walmart, and others, enhances its appeal. Zoned C-1 (Local Commercial District), the property offers diverse potential uses including office, retail, restaurant, fitness center, and pet grooming services. This property offers significant upside potential for a savvy investor.