717 State StErie, PA 16501

Property Details for 717 State St

Year built

1971

Lot size

0.82 AC

Property size (Sq ft)

118,264 SF

Property type

Office properties

Property subtype

Office buildings

APN

14-010-001.0-122.00

APU

14010001012200

Description

This exceptional Class A office building, located in Erie's vibrant Central Business District at 717 State Street, offers a diverse range of premium office spaces. Built in 1971 and boasting 118,264 square feet across six stories, this single building provides a sophisticated and efficient work environment. The property features two suites, with three individual spaces currently available, ranging from 800 to 4,500 square feet, catering to businesses of various sizes and needs. The building is zoned C-3 and its APN is 14-010-001.0-122.00. Modern conveniences include elevators. The building's location within the City of Erie submarket offers unparalleled access to the city's amenities and a thriving business community. This property is ideal for businesses seeking a prestigious address and a flexible workspace solution, encompassing executive office, coworking, traditional office, and creative office options. The multiple tenancy structure allows for a diverse and dynamic work environment. This is a rare opportunity to secure prime office space in a highly sought-after location.

• CAP approach

  CAP return

  Valuation

  6%

  $21,275,684

  6.5%

  $19,639,094

  7%

  $18,236,300

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,062,415

  Geo Method

  $11,062,415

• Alternative Use

  Use

  Valuation

  Residential

  $24,352,476

  Hospitality

  $22,306,736

  Educational

  $18,558,942

  Medical

  $19,197,214

  Retail

  $28,869,466

Location Insight

City

Erie

County

Erie

State

Pennsylvania

Latitude

42.128

Longitude

-80.0836

CBSA code

21500

CBSA name

ERIE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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