435 W. 10th Street

For Sale

435 W. 10th Street, Erie, PA 16502

This Erie property for sale is located at 435 W. 10th Street. The current listed sale price for 435 W. 10th Street is $795,000. 435 W. 10th Street is situated on a lot that is 0.31 acre in size.

Contacts

broker
Sherry Bauer

SBRE - Sherry Bauer Real Estate

Property Details

  • 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.
Want more info on this listing?

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

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

Getting around

  • 76/100

    Walk Score ®

  • 44/100

    Transit Score ®

  • 58/100

    Bike Score ®

Powered by Walk Score ®

Location

  • 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

  • State Street Market

    0.55 miles

  • Larry's Central Market

    0.56 miles

  • Flagship City Public Market

    0.63 miles

  • Kamana Asian Food Mart

    0.65 miles

  • Lake Erie International Market

    0.69 miles

  • Rippers

    1.02 miles

  • Kraus Department Store

    1.05 miles

  • UK Supermarket

    1.08 miles

  • City Fresh & Fast Mart

    1.22 miles

  • Himalayan Groceries

    1.30 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