21 State StAlbion, PA 16401

Property Details for 21 State St

Year built

1920

Construction

WOOD

Lot size

0.47 AC

Property size (Sq ft)

12,510 SF

Zone code

R2

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

01-004-044.0-014.01

APU

1004044001401

Description

This exceptional commercial property in Albion, PA, presents a rare investment opportunity. The offering encompasses four contiguous parcels totaling 12,000+ square feet of space, strategically located on two high-traffic downtown streets. The property includes two existing buildings, providing immediate income potential or the flexibility for extensive redevelopment. The substantial 1,500 square feet of frontage offers excellent visibility and accessibility for a wide range of commercial ventures. The property's prime location in the heart of Albion ensures high foot traffic and strong visibility. The individual parcel numbers are 01-004-044.0-014.-01, 01-004-044.0-014.-00, 01-004-044.0-014.-02, and 01-004-044.0-016.00. This is an ideal opportunity for investors seeking a multi-faceted commercial property with significant potential for growth and return. The property's size and location make it suitable for a variety of uses, from retail and office space to light industrial or mixed-use development. Don't miss this chance to acquire a substantial commercial holding in a vibrant downtown setting. Priced at $349,000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,308,306

  6.5%

  $3,053,820

  7%

  $2,835,690

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,948,867

  Geo Method

  $2,948,867

• Alternative Use

  Use

  Valuation

  Residential

  $2,576,012

  Hospitality

  $2,359,613

  Educational

  $1,963,170

  Medical

  $2,030,687

  Retail

  $3,053,820

Location Insight

City

Albion

County

Erie

State

Pennsylvania

Latitude

41.8905

Longitude

-80.3656

CBSA code

21500

CBSA name

ERIE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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