1702 E 38th St | Erie, PA 16510
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1702 E 38th St
Erie, PA 16510
Tops Absolute NNN Lease · Retail Property For Sale
PROPERTY FACTS
Property Type
Retail
Property Subtype
Supermarket
Building Size
77,126 SF
Building Class
B
Year Built
1995
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
8.85 AC
Zoning
C1 - Local Commercial
Parking
524 Spaces (6.79 Spaces per 1,000 SF Leased)
Frontage
475’ on E 38th St
AMENITIES
- Freeway Visibility
- Pylon Sign
- Signage
ABOUT 1702 E 38TH ST , ERIE, PA 16510
This is a rare Tops Market fee simple absolute NNN lease in Erie, PA. The lease calls for zero landlord obligations. There are scheduled annual increases in rent with ten, five year options to renew. The asset is well situated at a major commercial thoroughfare with high traffic counts. The asset comes with assumable, non-recourse debt in place with a maturity date of 8/6/24. The 30 year amortization with an interest rate of 4.82% requires a 36% down payment.
PROPERTY TAXES
| Parcel Number | 18-051-067.0-100.00 | Improvements Assessment | $2,701,340 |
| Land Assessment | $1,156,500 | Total Assessment | $3,857,840 |
PROPERTY TAXES
Parcel Number
18-051-067.0-100.00
Land Assessment
$1,156,500
Improvements Assessment
$2,701,340
Total Assessment
$3,857,840
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