818 State Street

For Sale

818 State Street, Erie, PA 16501

This Erie property for sale is located at 818 State Street. The general use of 818 State Street is office and it incorporates 30,785 square feet of class C office space. The current listed sale price for 818 State Street is $2,250,000. 818 State Street is situated on a lot that is 0.44 acre in size.

Contacts

broker

Sherry Bauer

SBRE - Sherry Bauer Real Estate

(814) 453-2000

Property Details

  • Property Type Office - General Office
  • Property Size 30,785 SF
  • Lot Size 0.44 Acre
  • Parking Spaces Avail. 32
  • Property Tenancy Multi-Tenant
  • Building Class C
  • Year Built 1900
  • Date Updated Apr 19, 2024
Western side of State Street at middle of block between W. 8th & W. 9th Streets by Dollar General. Frontage on both State & W. 9th Streets.4-Unit investment property in the heart of downtown Erie. 30,785± SF building, ADA compliant with elevator service & 32+ space private parking garage. 24,328± SF gross leasable area. Dollar General occupies 12,805± SF first floor. 5,836± SF second floor finished office space with 270± SF first floor lobby. Ready to develop 3,297± SF first floor space facing W. 9th Street & 2,120± SF second floor space. Wet sprinkler system available. Situated on 2 parcels totaling 0.43± acres zoned C-3, Central Commercial District. 2023 property taxes: $28,102. Proforma income: $297,688. Proforma NOI: $256,359. Offered at 11.4% proforma cap rate. Floor plans available for unfinished first floor space & second floor. Contact broker for additional information.5,836± SF second floor office in the heart of downtown Erie with elevator service & private, secure parking garage. Located adjacent to the Warner Theatre & Gannon University. 270± SF first floor lobby with elevator service to second floor suite & parking garage. Views of State Street from reception with built-in desk & waiting area as well as from 2 large offices. Layout includes reception, waiting area, a total of 7 offices, 2 workstations, 2 open workspaces, conference room, breakroom with full kitchen & sliding doors to rooftop, storage room, and 3 restrooms including 1 ADA restroom. Floor plan available. Secure parking available below building in private parking garage with over 32 parking spaces. Additional 2,120± SF unfinished second floor space is available for a total of up to 7,956± SF office. Zoned C-3, Central Commercial District. Offered at $13.00/SF/YR + CAM, utilities & parking. CAM estimated at $1.70/SF/YR. Tenant pays approximately $7,149/month (rent + CAM) plus utilities & parking. Contact broker for additional information or to schedule a tour.

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Highlights

  • 4-Unit Investment Property in Downtown Erie
  • 30,785± SF Two-Story Commercial Building
  • ADA Compliant with Elevator Service
  • 32+ Space Private Parking Garage
  • 24,328± SF Gross Leasable Area
  • Dollar General Leases 12,805± SF First Floor
  • 5,836± SF 2nd Floor Finished Office Space with 270± SF First Floor Lobby
  • 3,297± SF Unfinished 1st Floor Space on W. 9th Street
  • 2,120± SF Unfinished Second Floor Space
  • Wet Sprinkler System Available
  • Situated on 2 Parcels Totaling 0.4356± Acres
  • Zoned C-3, Central Commercial District
  • 2023 Property Taxes: $28,102
  • Proforma Total Income: $297,688
  • Proforma Net Operating Income: $256,359
  • Offered at a 11.4% Proforma Cap Rate

Getting around

  • 92/100

    Walk Score ®

  • 49/100

    Transit Score ®

  • 52/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Erie, PA
  • Zip Code 16501

Points of Interest

  • Erie

    0.44 miles

  • Erie Zoo Train Station

    2.05 miles

  • Sunoco

    0.26 miles

  • Trillium

    0.43 miles

  • Shell

    0.56 miles

  • Citgo

    0.57 miles

  • Citgo

    0.70 miles

  • Citgo

    1.14 miles

  • Citgo

    1.27 miles

  • Citgo

    1.28 miles

  • Kwik Fill

    1.45 miles

  • Citgo

    1.72 miles

  • PNC Bank Parking Garage

    0.09 miles

  • Gannon University Parking Garage

    0.10 miles

  • East 8th & French Parking Garage

    0.12 miles

  • Erie Parking Garage

    0.13 miles

  • East Erie Parking Garage

    0.16 miles

  • East 8th Street Parking Garage

    0.18 miles

  • Erie Insurance Parking Garage

    0.20 miles

  • Harborview Apartments Parking Garage

    0.32 miles

  • East 4th & French Parking Garage

    0.33 miles

  • Erie Insurance Parking Garage

    0.37 miles

  • Avalon Hotel & Conference Center

    0.09 miles

  • Victoria Inn - Erie

    0.34 miles

  • Red Roof PLUS+ & Suites Erie - Downtown

    0.63 miles

  • Spencer House Bed & Breakfast

    0.67 miles

  • Hampton Inn & Suites East Erie Bayfront

    0.67 miles

  • Sheraton Erie Bayfront Hotel

    0.81 miles

  • Courtyard by Marriott Erie Bayfront

    0.87 miles

  • Cobblestone Hotel & Suites - Erie

    1.08 miles

  • Park Plaza Motel

    3.12 miles

  • Bayfront Inn

    3.18 miles

  • State Street Market

    0.16 miles

  • Flagship City Public Market

    0.25 miles

  • Kamana Asian Food Mart

    0.33 miles

  • Kraus Department Store

    0.50 miles

  • 9th & Parade Market

    0.53 miles

  • Erie Central Mall

    0.56 miles

  • Farrell's Market

    0.57 miles

  • UK Supermarket

    0.57 miles

  • Larry's Central Market

    0.61 miles

  • Ash Street Market

    0.81 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Sherry Bauer

SBRE - Sherry Bauer Real Estate

(814) 453-2000