Office for Sale in Erie, PA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Erie, PA 16506
  • Year built: 1992

Description

• Triple Net Lease with Longstanding Optical Practice - 35 + Year Operating History in the Erie, PA Market • High Yield Medical Investment Property - 9.50% Cap Rate Provides Strong Cash Flow for Investor • Passive Ownership Lease Structure - Tenant Responsible for Taxes, Insurance, and OpEx • Freestanding 6,000 SF Building with Multi Suite Entry - Situated on a 0.57-acre parcel • Excellent Location with Frontage on West 38th St. - 14,500+ VPD with Immediate Access to I79 (32,000+ VPD) • Significant Population Density in Immediate Area - 139,000 Residents within 5 Mile Radius • Proximity to Major Healthcare Hubs - 3 Miles from AHN Saint Vincent Hospital • Corporate Lease with AEG Vision - AEG has Over 500 Locations and 5,000 Optometrists Investment Highlights: • • Triple Net Lease with Longstanding Optical Practice - 35 + Year Operating History in the Erie, PA Market • • High Yield Medical Investment Property - 9.50% Cap Rate Provides Strong Cash Flow for Investor • • Passive Ownership Lease Structure - Tenant Responsible for Taxes, Insurance, and OpEx • • Freestanding 6,000 SF Building with Multi Suite Entry - Situated on a 0.57-acre parcel • • Excellent Location with Frontage on West 38th St. - 14,500+ VPD with Immediate Access to I79 (32,000+ VPD) • • Significant Population Density in Immediate Area - 139,000 Residents within 5 Mile Radius • • Proximity to Major Healthcare Hubs - 3 Miles from AHN Saint Vincent Hospital • • Corporate Lease with AEG Vision - AEG has Over 500 Locations and 5,000 Optometrists

Market Context

This office in Erie, PA is listed for sale. It is offered at an approximate 9.5% capitalization rate, a key benchmark for income-producing office assets. The building dates to 1992. It has been on the market for 52 days. Compare it against other office listings for sale in Erie, PA — <a href="/search/sale/office/pennsylvania/erie">view the full market</a>.

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