10 4Th StErie, PA 16507

  • Office properties
  • 38,241 SF
For Lease
$15.50/SF/YR View listing

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
10 4Th St, Erie, Pennsylvania

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$108,270
-
$2,846,000
$2,846,000
-
-
$2,846,000
$2,846,000

FAQs

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