$1,625,000.00
2018 E 38TH St, ERIECITY PA 16510
0 | 19868 ft2
Investment Plaza
Nov. 21, 2024, 1:06 p.m.
Own College Plaza, a 7-unit strip plaza near Mercyhurst University with immense upside potential. 19,868± SF center with 19,400± SF rentable area. Built in 1987 with public utilities. Situated on 2.182± acre corner lot along public bus route with curb cuts from both streets. 288’ Frontage along E. 38th Street with 15,000 average daily traffic (PennDOT - 2023 count year) & 330’ frontage along McCain Avenue. 129± parking spaces in private lot. Tenant mix includes Dollar Tree, On The Avenue Salon, Sun Capsule (tanning salon) & Jade Garden (Chinese restaurant). Within 1 mile of major retailers: Taco Bell, Dollar General, Tops Friendly Markets, McDonalds, Walmart, Marco’s Pizza, Subway, Cost Cutters, Widget Financial & more. Zoned C-1, Local Commercial District (City of Erie), offering many potential uses: office, retail, restaurant, fitness center, pet grooming & more. 79.9% Occupancy. $175,772 Pro-forma NOI – offered At 10.8% pro-forma cap rate.
Listed by: Sherry Bauer (814) 453-2000, SBRE - Sherry Bauer Real Estate Services (814) 453-2000
Source: MLS#: 180851; Originating MLS: Greater Erie Board of Realtors
| Directions | E. 38th Street at McCain Avenue. |
| Year Built | 1987 |
| Area | 4 - Erie Southeast |
| Road Surface | Paved Public |
| Water | Public |
| School Districts | City-Erie |
| Lot Description | Corner |
| Building Information | Existing Structure |
| Construction | Block,Masonry |
| Fuel Type | Gas |
| Roof Description | See Remarks |
| Heating Type | Forced-Air |
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