1324 Grandview BlvdErie, PA 16504

Property Details for 1324 Grandview Blvd

Property size (Sq ft)

68,288 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

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.

Location Insight

City

Erie

County

Erie

State

Pennsylvania

Latitude

42.1078

Longitude

-80.0325

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