available 15,472 ± sf, 3 unit commercial building …...15,472 ± sf, 3 unit commercial building ....

AVAILABLE FOR SALE

15,472 ± SF, 3 UNIT COMMERCIAL BUILDING 1106 Chestnut Street | Erie, PA 16501

• 15,472 ± SF, 3 Unit Commercial Building

• Situated on 0.7014 Acres

• Eligible for Federal Opportunity Zone & LERTA Tax Incentives

• Zoned M-2, Heavy Manufacturing

• Built in 1967

• Private Parking with Approx. 38 Spaces

• 11,971 ± SF Mixed-Use Space – Available• Former Auto Repair Shop & Parts Business • 3 Overhead Doors• In-Floor Exhaust Ventilation System• For Lease at $4.50/SF – NNN

• 2,000 ± SF Office – Available • For Lease at $1,500/Month + Utilities

• 1,501 ± SF Office/Warehouse – C. H. Reed• 1 Overhead Door• Existing Lease with Renewal Option• Tenant Pays Base Rent + Utilities

OFFERED AT:

$499,000

FOR MORE INFORMATION PLEASE CONTACTSherry BauerBrokerO. 814.453.2000 x 1 C. [email protected]

1315 Peninsula Drive, Suite 2 • Erie, PA 16505 • P. 814.453.2000 • F. 814.453.2001 • www.SherryBauerRealEstate.com

HIGHLIGHTS:

©2020 Sherry Bauer Real Estate. The information above has been obtained from sources believed reliable. While we do not doubt it doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.

Click for Document VaultFor Full OM – Click on Lock Icon on Documents Tab to E-Sign Confidentiality Agreement

http://properties.sherrybauerrealestate.com/576657-sale

AVAILABLE FOR SALE




Property Address 1106 Chestnut Street | Erie, PA 16501

Total Building Size 15,472 ± SF

Year Built 1967

Acreage 0.7014 AC

Zoning M-2, Heavy Manufacturing

Tax ID Number 16-030-024.0-104.00

Property Taxes $7,206.58 (2020)

Utilities Public Water & Sewer

Heating Forced Air Heat – Natural Gas

Cooling Central Electric Air Conditioning

Hot Water Gas Hot Water Heater

Unit 1

11,971 ± SF Mixed-Use Space – Available1110 Chestnut Street – Erie, PA3 Overhead Doors In-Floor Exhaust Ventilation System$4.50/SF/YR ($4,489/Month) – NNN3D Virtual Tour Available

Unit 22,000 ± SF Office Suite – Available401 W. 11th Street – Erie, PA$9.00/SF/YR ($1,500/Month) + Utilities

Unit 3

C. H. Reed – Office / Warehouse413 W. 11th Street – Erie, PA1,501 ± SF with 1 Overhead DoorExisting Lease with Renewal OptionTenant Pays Base Rent + Utilities

SUMMARY:

Unit 2 – 2,000 ± SF Office Suite – Available

Unit 3: 1,501 ± SF Office / Warehouse – Leased

Unit 1 – 11,971 ± SF Mixed-Use – Available


https://my.matterport.com/show/?m=XBSktJ8eHNv



PARKING SCHEMATIC:

AVAILABLE FOR SALE


Approximately 38 Parking Spaces:

± 32 Parking Spaces in Chestnut Street Lot• ± 14 by Building• ± 16 Opposite Building• ± 2 in Rear

Overhead Door

Overhead Door

Overhead Door

Overhead Door

± 6 Parking Spaces in W. 11th Street Lot

©2020 Sherry Bauer Real Estate. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. MapImagery: Google Maps. Accessed August 7, 2020.




APPROXIMATE EXISTING LAYOUT:

AVAILABLE FOR SALE


NOTE: Unit dimensions approximate. Drawing may not be to scale.

1,501 ± SF Office w/

WarehouseLEASED

2,000 ± SF Office

FOR LEASE

11,971 ± SF Mixed-Use Commercial Space

FOR LEASE


AVAILABLE FOR SALE


• Former Auto Repair Shop & Parts Business

• Showroom, Shop Office & Warehouse Area

• 2 Restrooms

• 14’ Ceilings

• 3 Overhead Doors – Including Dual, Drive-Thru Overhead Doors

• In-Floor Exhaust Ventilation System

• See Layout (Enclosed)

• 3D Virtual Tour: https://my.matterport.com/show/?m=XBSktJ8eHNv

• Available For Lease at $4.50/SF – NNN

UNIT 1: 11,971 ± SF Mixed-Use Space | 1110 Chestnut Street







AVAILABLE FOR SALE


UNIT 1: 11,971 ± SF Mixed-Use Space | 1110 Chestnut Street

3D Virtual Tour Available: https://my.matterport.com/show/?m=XBSktJ8eHNv



FLOOR 1

•OOMI•OOM B'l"xll'S" B'l"xll'S"

GROSS INTERNAL AREA

FLOOR 1: 11,328 sq ft

TOTAL: 11,328 sq ft

SIZES AND DIMENSIONS ARE APPROXIMATE, ACTUAL MAY VARY.

STORAGE

5'S"xl2'6"

SIZES AND DIMENSIONS ARE APPROXIMATE, ACTUAL MAY VARY. ACCURACY IS TO 2% OF REALITY OR THE NEAREST 1/4 INCH.

ACTUAL AREA ESTIMATED TO BE 11,971 SF (APPROXIMATELY).

OOOM

25'4'xl2'l'

-

POWERED BY

Ee) matterport·

AVAILABLE FOR SALE


• Lobby / Reception

• 5 Private Offices - 4 with Windows for Natural Light

• Kitchenette

• 2 Private Restrooms

• Abundant Free Parking in Private Lot

• Signage Available

• Easy Access to Major Local Thoroughfares & I-79

• Offered at $9.00/SF/YR – Modified Gross

• Tenant Pays Rent ($1,500/Month) + Utilities

UNIT 2: 2,000 ± SF Office Suite | 401 W. 11th Street




AVAILABLE FOR SALE


• Lease Existing Lease with Renewal Option

• Tenant Pays Base Rent + Utilities

• Tenant: C.H. Reed – A Compressed Air Solutions, Paint Finishing & Fluid Handling Provider

563 ± SF OFFICE AREA

• Private Entrance Off W. 11th Street

• Synthetic Hardwood Floors

• Windows for Natural Light

• 1 ADA Accessible Restroom

• Gas Forced Air Heat & Central Electric AC

938 ± SF STORAGE / WAREHOUSE

• 22’ x 38’8” Warehouse with Overhead Door (12’W x 10’H)

• Additional Storage Room: 15’ x 15’2”

• Reznor Gas Heat

UNIT 3: 1,501 ± SF Office with Warehouse | 413 W. 11th Street






TAX MAP:

AVAILABLE FOR SALE


LOCATION HIGHLIGHTS:

• 1.9 Miles from I-79

• 8.3 Miles from I-90

• One Block from Public Bus Route

• In Close-Proximity to Major Local Thoroughfares

©2020 Sherry Bauer Real Estate. The information above has been obtained from sources believed reliable. While we do not doubt it doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Map Imagery ©2019 Erie County Assessor’s Office.



FEDERAL OPPORTUNITY ZONES:


AVAILABLE FOR SALE


Tax Incentives for Investors

• Permanent Exclusion

• Permanent Exclusion of Any Future Capital Gain Income Realized in Sale or Exchange if Held for 10+ Years

• Basis Step-Up

• Basis in Investment Increased by 10% of the Amount of Unrecognized Capital Gain if Held for 5 Years; 15% if Held for 7 Years

• Effect Is To Reduce the Amount of Re-Invested Capital Gain Subject to Tax

• Temporary Tax Deferral

Learn more at https://www.flagshipopportunityzone.com/

©2020 Sherry Bauer Real Estate. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. MapSource: ESRI Community Maps Contributors, Province of Ontario, Esri, HERE, Gamin, INCREMENT P, METI/NASA, USGS, EPA, NPS, US Census Bureau.

FEDERAL OPPORTUNITY ZONE SITE

1106 Chestnut StreetErie, PA

ADDITIONAL INCENTIVIZATIONS FOR INVESTORS

Keystone Opportunity Zones

• Tax Abatement Program for Improvements Impacting Assessed Value

City of Erie Enterprise Development Zone

• Low Interest Financing

• To Promote Job Creation or Retention

• Typically For Real Property &/or Machinery/Equipment

Local Economic Revitalization Tax Assistance (LERTA)

• City of Erie Tax Abatement Program for Improvements Impacting Assessed Value

• Learn more at https://cityof.erie.pa.us/lerta/

https://www.flagshipopportunityzone.com/

https://esrimedia.maps.arcgis.com/apps/View/index.html?appid=77f3cad12b6c4bffb816332544f04542

https://www.flagshipopportunityzone.com/background-info

https://cityof.erie.pa.us/lerta/

17

204.20 M-2 HEAVY MANUFACTURING DISTRICT PERMITTED USES Accessory Uses Airports and Heliports Asphalt Products, Manufacturing and Storage Automotive Body Shop Automotive Paint Shop Automotive Repair Shop Chemical Processing and Production Commercial Recreation (8/07) Contractors Yard Corporate Offices Essential Services Gasoline Service Station (305.10, 305.12) Heavy Manufacturing (305.47) Landfill/Solid Waste Transfer Facility Light Manufacturing Off-Street Parking Lots (305.10, 305.11) Power Plants Personal Self Storage Facilities Recycling and Refuse Reduction Center Service Garage Signs/Outdoor Advertising Supply Yards Truck Terminals Urban Solar Farms (305.55) Warehousing PLEASE SEE SECTION 206 FOR THE INDUSTRIAL PARK DISTRICT, I.P.

SPECIAL EXCEPTIONS Commercial/Industrial Wind Energy Systems (305.53) Small Wind Energy Systems (305.53) Wireless Communication Facilities (305.45) Any other Manufacturing use not otherwise specified which is not objectionable to immediate neighbors because of noise, vibration, or emission of noxious gases, fumes or dust (305.49) CONDITIONAL USES Scrap Yards (305.48) Wind Energy Conversion Systems (305.52)

sn12020

Address: 1106 CHESTNUT ST

Parcel Profile

Address

Street Status

School District

Acreage

Classification

Land Use Code

Legal Description

Square Feet

Topo

Utility

Zoning

Deed Book

Deed Page

2020 Tax Values

Land Value / Taxable

Building Value / Taxable

Total Value / Taxable

Clean & Green

Homestead Status

Farmstead Status

Lerta Amount

Lerta Expiration Year

Commercial Data

Card 1

Erie County, Pennsylvania

11061 CHESTNUT I ST

PAVED I SIDEWALK

CITY OF ERIE SCHOOL

0.7014

C

GARAGES/SHOP/CAR DEALERS

1106 CHESTNUT ST 185 X 165.16

15472

LEVEL

ALL PUBLIC

Please contact your municipal zoning officer

0239

1748

61,100 / 61,100.00

138,900 / 138,900.00

200,000 1200,000.00

Inactive

Inactive

Inactive

0

0

WAREHOUSE

Business Living Area -15472

Year Built -1967

Improvement Name -ACCU DRIVES INC.

Parcel: 16030024010400