5040 Ridge RdErie, PA 16506

Property Details for 5040 Ridge Rd

Year built

1986

Construction

WOOD

Lot size

1.47 AC

Property size (Sq ft)

98,338 SF

Zone code

DB

Property type

Residential income properties

Property subtype

High-rise multifamily apartments

APN

33-042-230.0-030.02

APU

33042230003002

Description

This exceptional office space, located at 5040 W Ridge Rd in Erie, Pennsylvania, offers 2,000 square feet of immediately available space within a larger nine-story building totaling 98,338 square feet. The building, constructed in 1986, boasts a convenient C-1 zoning classification and is situated on West Ridge Road, between Wegmans and Walmart, ensuring high visibility and accessibility. The property features ample off-street parking with 20+ spaces available, and includes elevators for easy access to all floors. This traditional office space is perfect for a variety of businesses seeking a well-maintained and strategically located office environment. The property's APN is 33-042-230.0-030.02, and Erie County taxes are $0.37 per square foot. The building is multi-tenant, offering a collaborative and professional atmosphere. While this listing highlights a 2,000 square foot space, the building offers flexible options ranging from 1,000 to 4,000 square feet, allowing for potential expansion or downsizing to meet specific business needs. The property's prime location and abundant parking make it an ideal choice for businesses seeking a thriving and convenient location in Erie, PA. The zip code is 16506.

• CAP approach

  CAP return

  Valuation

  6%

  $21,936,838

  6.5%

  $20,249,388

  7%

  $18,803,004

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,257,732

  Geo Method

  $14,257,732

• Alternative Use

  Use

  Valuation

  Residential

  $20,249,388

  Hospitality

  $18,548,332

  Educational

  $15,431,994

  Medical

  $15,962,724

  Retail

  $24,005,324

Location Insight

City

Erie

County

Erie

State

Pennsylvania

Latitude

42.0686

Longitude

-80.1901

CBSA code

21500

CBSA name

ERIE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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