1324 Grandview Blvd Erie, PA 16504

Grandview Shopping Plaza, located at 1324 E Grandview Blvd, Erie, PA 16504, presents a compelling investment opportunity. This multi-tenant retail shopping center boasts a substantial 68,288 square feet of net rentable space, situated on approximately 8 acres of land. The property features 352 parking spaces, ensuring ample convenience for shoppers and tenants. Built in 1972 and renovated in 1996, the center is well-maintained and benefits from C-2 zoning. Currently, the property comprises seven units operating under a modified lease structure. The asking price is $3,950,000, representing a price per square foot of $57.84 and a strong projected cap rate of 11.52%. The current Net Operating Income (NOI) stands at $455,136. Master leases are available from the seller, who is highly motivated to facilitate a swift transaction. This property offers a rare chance to acquire a well-established, income-producing retail center in a desirable Erie location.