1921 8Th StErie, PA 16505
- Office properties
- 2,732 SF
Property Details for 1921 8Th St
- Year built
- 1980
- Construction
- FRAME
- Lot size
- 0.15 AC
- Property size (Sq ft)
- 2,732 SF
- Zone code
- RLB
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- 16-031-013.0-309.00
- APU
- 16031013030900
Description
This 2,732 square foot freestanding building, located at 1921 W 8th St in Erie, PA, presents a unique investment opportunity. Built in 1980 and renovated in 2019, this Class C mixed-use property sits on a 0.15-acre lot and boasts a prime location in the Presque Isle Gateway District. The property features seven office rooms (two suitable as conference rooms), a storage room, kitchenette, and a reception area with a large storefront window. Its versatile design allows for division into multiple units, thanks to additional exterior doors. The building is currently vacant and offers excellent visibility, off-street parking, and new sidewalks. Zoned RLB, this single-story structure offers ample space for a variety of businesses, making it ideal for owner-users seeking a high-traffic location. Its proximity to I-79, the Bayfront Connector, and the revitalized West Erie Plaza further enhances its appeal. The asking price is $190,000, translating to $69.55 per square foot. This represents a compelling opportunity to establish or expand a business in a thriving Erie neighborhood. The property's APN is 16-031-013.0-309.00.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $491,487
- 6.5%
- $453,680
- 7%
- $421,274
-
Comparable approach
- Method
- Valuation
- Relative Method
- $255,551
- Geo Method
- $255,551
-
Alternative Use
- Use
- Valuation
- Residential
- $562,563
- Hospitality
- $515,305
- Educational
- $428,728
- Medical
- $443,472
- Retail
- $666,910
Location Insight
- City
- Erie
- County
- Erie
- State
- Pennsylvania
- Latitude
- 42.1114
- Longitude
- -80.1267
- 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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