10 4Th StErie, PA 16507

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

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.

• 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

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