435 W. 10th Street

435 W. 10th Street, Erie, PA 16502

  • For Sale $795,000
  • Property Type Multi-Family
  • Property Size 11,568 SF
  • Units 9
  • Lot Size 0.31 Acre
  • Additional Rent Contact for pricing
  • Parking Spaces Avail. 16
  • Parking Ratio 1.40 / 1,000 SF
  • Property Tenancy Multi-Tenant
  • Year Built 1969
  • Date Updated Dec 10, 2024
Cherry Street To W. 10th Street. South Side Of Street Between Walnut & Chestnut Streets.11,568± SF mixed-use commercial investment opportunity featuring 8 two bedroom, 1 bathroom apartments & 1,088± SF office. 7,712± SF above grade area consists of eight 964± SF apartments: living room, kitchen/dining area, 2 bedrooms & full bathroom. Each apartment includes a range, refrigerator & dishwasher. Current average monthly rent is $789 with 6 of 9 tenants paying separately metered electric. Landlord pays gas, water, sewer & trash. 1,088± SF finished lower level office: 3 offices, conference room, open office area & restroom. 2,768± SF lower level basement: 6 tenant storage bins, utility room & laundry room. Built in 1969 on 0.3133± acres zoned RLB, Residential Limited Business. 16 car paved parking lot. Public utilities, gas forced air heat & central air conditioning. $88,320 Total Annual Rental Income. $64,188 Net operating income. Upside potential with below market rents – $788/month average rent. $100,200 pro-forma annual income. $76,068 Pro-forma net operating income. Offered at $795,000 – 8.10% cap rate – 9.57% pro-forma cap rate. Contact broker for additional information or to schedule a tour.
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Attachments

Highlights

  • 11,568± SF Mixed-Use Commercial Investment Building
  • 8 Two Bedroom, 1 Bathroom Apartments & 1,088± SF Office
  • 7,712± SF Above Grade Area Consists Of Eight 964± SF Apartments
  • Apartment Layout: Living Room, Kitchen/Dining Area, 2 Bedrooms & Full Bathroom
  • Apartments Include Range, Refrigerator & Dishwasher
  • 1,088± SF Finished Lower Level Office: 3 Offices, Conference Room, Open Office Area & Restroom
  • 2,768± SF Lower Level Basement: 6 Tenant Storage Bins, Utility Room & Laundry Room
  • Landlord Pays Gas, Water, Sewer & Trash
  • 6 Of 9 Tenants Pay Separately Metered Electric
  • Built In 1969 On 0.3133± Acres 16 Car Paved Parking Lot
  • Public Utilities, Gas Forced Air Heat & Central Air Conditioning
  • Zoned RLB, Residential Limited Business
  • $88,320 Total Annual Rental Income – $64,188 Net Operating Income
  • Upside Potential – Average Rent $789/Month
  • $100,200 Pro-Forma Annual Income – $76,068 Pro-Forma NOI
  • Offered At $795,000 – 8.10% Cap Rate – 9.57% Pro-Forma Cap Rate

Contacts

broker
Sherry Bauer

SBRE - Sherry Bauer Real Estate

Location

Getting Around

  • Walk Score ®

    76/100 Very Walkable

  • Transit Score ®

    44/100 Some Transit

  • Bike Score ®

    58/100 Bikeable
Powered by Walk Score ®
  • City Erie, PA
  • Zip Code 16502

Points of Interest

  • Erie Zoo Train Station

    1.85 miles

  • L. Ruth Express

    3.43 miles

  • Citgo

    0.62 miles

  • Sunoco

    0.63 miles

  • Trillium

    0.73 miles

  • Shell

    1.12 miles

  • GetGo

    1.54 miles

  • Tesla Supercharger

    4.79 miles

  • Erie Parking Garage

    0.42 miles

  • Harborview Apartments Parking Garage

    0.49 miles

  • Garage Q

    0.51 miles

  • East Erie Parking Garage

    0.62 miles

  • PNC Bank Parking Garage

    0.63 miles

  • East 8th & French Parking Garage

    0.66 miles

  • East 8th Street Parking Garage

    0.73 miles

  • EMTA Parking Garage

    0.78 miles

  • East 4th & French Parking Garage

    0.80 miles

  • UPMC Hamot Parking Garage

    0.84 miles

  • Spencer House Bed & Breakfast

    0.32 miles

  • Avalon Hotel & Conference Center

    0.53 miles

  • Victoria Inn - Erie

    0.68 miles

  • Red Roof PLUS+ & Suites Erie - Downtown

    0.73 miles

  • Cobblestone Hotel & Suites - Erie

    0.80 miles

  • Hampton Inn & Suites East Erie Bayfront

    1.01 miles

  • Courtyard Erie Bayfront

    1.03 miles

  • Sheraton Erie Bayfront Hotel

    1.05 miles

  • Park Plaza Motel

    2.59 miles

  • Bayfront Inn

    2.64 miles

  • McDonald's

    0.38 miles

  • Bolero

    0.50 miles

  • Arby's

    0.50 miles

  • 814 Chophouse

    0.51 miles

  • Chick-fil-A

    0.52 miles

  • The Brewerie at Union Station

    0.52 miles

  • Krispy Krunchy Chicken

    0.53 miles

  • Krazy Kitchen

    0.55 miles

  • Domino's

    0.59 miles

  • Chippers Seafood & Southern Fusion

    0.59 miles

  • Salata Technology Center

    0.28 miles

  • Cathedral Preparatory School

    0.29 miles

  • Luther Memorial Academy

    0.29 miles

  • Early Connections

    0.34 miles

  • Mother Teresa Academy

    0.38 miles

  • Erie Test Center

    0.40 miles

  • Saint Paul's School

    0.42 miles

  • Gannon University

    0.53 miles

  • Accelerated Learning Academy

    0.59 miles

  • Child Development Centers

    0.65 miles

  • Easter Group Daycare

    0.19 miles

  • Thurston Child Care Center

    0.52 miles

  • Bethesda Children's Home

    0.55 miles

  • Handled With Care Childcare

    0.59 miles

  • Early Connections

    0.60 miles

  • ABC 24hr Child Care

    0.65 miles

  • Saint Martin Early Learning Center

    0.77 miles

  • Erie KinderCare

    0.84 miles

  • Saint Benedict Center

    1.01 miles

  • Cuddle Time Day Care

    1.07 miles

Frequently Asked Questions

How much does 435 W. 10th Street cost?

The space currently listed for sale at 435 W. 10th Street asks for $795,000.

What is the total square footage of 435 W. 10th Street?

435 W. 10th Street totals 11,568 square feet.

When was this property built?

435 W. 10th Street was built in 1969.

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Contact Listing Broker
broker
Sherry Bauer

SBRE - Sherry Bauer Real Estate