10 4Th StErie, PA 16507
- Office properties
- 38,241 SF
Property Details for 10 4Th St
- Year built
- 1900
- Construction
- WOOD FRAME
- Property size (Sq ft)
- 38,241 SF
- Zone code
- C3
- Property type
- Office properties
- Property subtype
- Other office properties
- APN
- 14-010-003.0-100.65
- APU
- 14010003010065
Description
This exceptional three-story, 83,791 square foot office building, constructed in 1900, presents a unique investment opportunity in Erie's thriving Central Business District. Located on State Street, with convenient access to major thoroughfares, this property boasts 21 suites, offering flexible spaces ranging from 567 to 4,811 square feet, suitable for traditional office, coworking, or creative office uses. The building is undergoing significant exterior and infrastructure improvements under new ownership and management, reflecting a commitment to revitalizing this historic landmark. Its prime location offers unparalleled access to key Erie attractions, including UPMC Hamot, Bayfront/Dobbins Landing, Erie Insurance, the Warner Theatre, UPMC Park, the Erie Art Museum, and Gannon University. The C-3 zoning allows for a variety of commercial uses. This is a chance to be part of the exciting renaissance of Erie's downtown, in a building steeped in history and poised for a bright future. Five spaces are currently available. The property's Erie County location, within the Heart of Erie's Commercial Business District submarket, ensures high visibility and accessibility. The APN is 14-010-003.0-100.65. This is a rare opportunity to secure space in a landmark building undergoing substantial upgrades.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $6,879,553
- 6.5%
- $6,350,356
- 7%
- $5,896,760
-
Comparable approach
- Method
- Valuation
- Relative Method
- $3,577,063
- Geo Method
- $3,577,063
-
Alternative Use
- Use
- Valuation
- Residential
- $7,874,442
- Hospitality
- $7,212,946
- Educational
- $6,001,087
- Medical
- $6,207,474
- Retail
- $9,335,024
Location Insight
- City
- Erie
- County
- Erie
- State
- Pennsylvania
- Latitude
- 42.1316
- Longitude
- -80.0865
- CBSA code
- 21500
- CBSA name
- ERIE, PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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