Share This Listing

Message

966 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Still interested?

Contact the broker for more information about this property

137 W 2nd St 44,834 SF Specialty Building Offered at $6,511,000 at a 7.90% Cap Rate in Erie, PA 16507

Specialty Properties Pennsylvania Erie 137 W 2nd St, Erie, PA 16507

Save this listing!

Favorite this listing to get notified of price updates, new media and more

Investment Highlights

  • 15-Year Lease Extension with Commonwealth of Pennsylvania, AA/Aa3 Credit Tenant
  • Additional Income from UPMC Hamot Parking Lease Through 2029
  • Located in Downtown Erie, PA with Over 140,000 People in a 5-Mile Radius
  • Annual 2.5% Rent Increases Provide Strong Inflation Hedge for Investors
  • 100% Occupied, 44,834 SF Facility with 49 Rooms and 150 Resident Capacity
  • Net Operating Income of $514,110 and Proforma Cap Rate of 7.90%

Executive Summary

Kyle Matthews
Matthews Real Estate Investment Services, Inc
License # RB068831, RM423998 (PA)
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550

Property Facts

Price $6,511,000 Building Class C
Price Per SF $145.22 Lot Size 1.42 AC
Sale Type Investment Building Size 44,834 SF
Cap Rate 7.90% No. Stories 3
Property Type Specialty Year Built 1972
Property Subtype Correctional Facility Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning WC2 - Commercial
Price $6,511,000
Price Per SF $145.22
Sale Type Investment
Cap Rate 7.90%
Property Type Specialty
Property Subtype Correctional Facility
Building Class C
Lot Size 1.42 AC
Building Size 44,834 SF
No. Stories 3
Year Built 1972
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning WC2 - Commercial

Links

1 1
Walk Score®
Very Walkable (76)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

Property Taxes

Parcel Number 17-040-006.0-212.00 Improvements Assessment $1,774,200
Land Assessment $609,300 Total Assessment $2,383,500

Property Taxes

Parcel Number
17-040-006.0-212.00
Land Assessment
$609,300
Improvements Assessment
$1,774,200
Total Assessment
$2,383,500
(424) 220-7244

Still interested?

Contact the broker for more information about this property

Contact

  • Listing ID: 39792508

  • Date on Market: 3/16/2026

  • Last Updated:

  • Address: 137 W 2nd St, Erie, PA 16507

More public record information on 137 W 2nd St, Erie, PA 16507

The Mid City Erie Specialty Property at 137 W 2nd St, Erie, PA 16507 is currently available. Contact Matthews Real Estate Investment Services for more information.

SPECIALTY PROPERTIES IN NEARBY NEIGHBORHOODS

1 of 5
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View Street
Map
137 W 2nd St, Erie, PA for sale Primary Photo- Image 1 of 5
Erie Community Corrections Center 137 W 2nd St - Erie PA, pic-1 WM
137 W 2nd St, Erie, PA for sale Building Photo- Image 2 of 5
Erie Community Corrections Center 137 W 2nd St - Erie PA, pic-2 WM
137 W 2nd St, Erie, PA for sale Building Photo- Image 3 of 5
Erie Community Corrections Center 137 W 2nd St - Erie PA, pic-4 WM
137 W 2nd St, Erie, PA for sale Building Photo- Image 4 of 5
Erie Community Corrections Center 137 W 2nd St - Erie PA, pic-3 WM
1 of 1
137 W 2nd St
(424) 220-7244 x

137 W 2nd St

Joseph Nelson
(424) 220-7244

Already a member? Log In

First Name*

Last Name*

Email*

Email address is required

Phone*

Ext (optional)

Company (optional)

Message*

Message is required

{{getContactFormMessageFieldCharacterCount()}} out of 600

New to LoopNet? No problem. We'll automatically create a free account for you. By clicking the button, you agree to LoopNet's Terms of Use and Privacy Notice.

Hmm, there seems to have been an error sending your message. Please try again.

Thanks! Your message was sent.

Send another message
Link copied
Your LoopNet account has been created!

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, "rating") }}
255 character limit ({{ remainingChars() }} charactercharacters remainingover)
{{ getErrorText(feedbackForm.msg, "rating") }}
{{ getErrorText(feedbackForm.fname, "first name") }}
{{ getErrorText(feedbackForm.lname, "last name") }}
{{ getErrorText(feedbackForm.phone, "phone number") }}
{{ getErrorText(feedbackForm.phonex, "phone extension") }}
{{ getErrorText(feedbackForm.email, "email address") }}
You can provide feedback any time using the Help button at the top of the page.