137 W 2nd St
Erie, PA 16507
Mid City Erie
HIGHLIGHTS
- 15-Year Lease Extension with Commonwealth of Pennsylvania, AA/Aa3 Credit Tenant
- Annual 2.5% Rent Increases Provide Strong Inflation Hedge for Investors
- Additional Income from UPMC Hamot Parking Lease Through 2029
- 100% Occupied, 44,834 SF Facility with 49 Rooms and 150 Resident Capacity
- Located in Downtown Erie, PA with Over 140,000 People in a 5-Mile Radius
- Net Operating Income of $514,110 and Proforma Cap Rate of 7.90%
FOR SALE DETAILS
PRICE
$6,511,000 USD
PRICE/SF
$145 USD /SF
CAP RATE
7.9%
% LEASED
-
TENANCY
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY TYPE
Specialty
TOTAL BUILDING SIZE
-
STORIES
3
BUILDING CLASS
C
YEAR BUILT
1972
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
1.42 AC
LAND SF
62,003 SF
ZONING
WC2
APN/PARCEL ID
17-040-006.0-212.00
ASK ABOUT THIS PROPERTY
Please correct the highlighted field(s).
424-220-7244
By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.
Please correct the highlighted field(s).
424-220-7244
By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.
