137 2Nd St Erie, PA 16507
Prime Erie location, strong tenant.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 134
Highlights
- Investment-grade credit tenant: Commonwealth of Pennsylvania, Department of Corrections (AA/Aa3 rating).
- Long-term lease: 15-year extension with a strong, 20+ year history at this location.
- Inflation-resistant lease: 2.5% annual rent increases.
- Additional income streams: Parking lot lease with UPMC Hamot (extending to 2029) and laundry services.
- State-operated correctional facility: Erie Community Corrections Center, one of 12 in Pennsylvania, serving a large regional population.
- Prime downtown Erie location: High population density (±140,000 within 5 miles), near major employers (UPMC Hamot, Erie Insurance), entertainment venues, and the bayfront.
Property Details for 137 2Nd St
- Property type
- Specialty properties, Retail properties
- Square Feet
- 44,834 SF
- Class
- A
- Year Built/Renovated
- 1972/2003
- Buildings
- 1
- Stories
- 3
- Lot Size (sq. ft)
- 60,984 SF
Location Insight
- City
- Erie
- County
- Erie
- State
- Pennsylvania
- Latitude
- 42.1317308
- Longitude
- -80.0901456
Nearby Similar for Sale
FAQs
- What type of property is this?
- Specialty property - Prime Erie location, strong tenant.
- Where is the specialty property located?
- The property is located at 137 2Nd St Erie, PA.
- What is the asking price?
- The asking price for this property is $6,511,000.
- What are key features of this property?
- This property features: Investment-grade credit tenant: Commonwealth of Pennsylvania, Department of Corrections (AA/Aa3 rating).; Long-term lease: 15-year extension with a strong, 20+ year history at this location.; Inflation-resistant lease: 2.5% annual rent increases.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].