Post on 15-Aug-2020
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. 814.460.2000SBauer@SherryBauerRealEstate.com
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
AVAILABLE FOR SALE
15,472 ± SF, 3 UNIT COMMERCIAL BUILDING 1106 Chestnut Street | Erie, PA 16501
FOR MORE INFORMATION PLEASE CONTACTSherry BauerBrokerO. 814.453.2000 x 1 C. 814.460.2000SBauer@SherryBauerRealEstate.com
1315 Peninsula Drive, Suite 2 • Erie, PA 16505 • P. 814.453.2000 • F. 814.453.2001 • www.SherryBauerRealEstate.com
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
©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.
FOR MORE INFORMATION PLEASE CONTACTSherry BauerBrokerO. 814.453.2000 x 1 C. 814.460.2000SBauer@SherryBauerRealEstate.com
1315 Peninsula Drive, Suite 2 • Erie, PA 16505 • P. 814.453.2000 • F. 814.453.2001 • www.SherryBauerRealEstate.com
PARKING SCHEMATIC:
AVAILABLE FOR SALE
15,472 ± SF, 3 UNIT COMMERCIAL BUILDING 1106 Chestnut Street | Erie, PA 16501
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.
©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.
FOR MORE INFORMATION PLEASE CONTACTSherry BauerBrokerO. 814.453.2000 x 1 C. 814.460.2000SBauer@SherryBauerRealEstate.com
1315 Peninsula Drive, Suite 2 • Erie, PA 16505 • P. 814.453.2000 • F. 814.453.2001 • www.SherryBauerRealEstate.com
APPROXIMATE EXISTING LAYOUT:
AVAILABLE FOR SALE
15,472 ± SF, 3 UNIT COMMERCIAL BUILDING 1106 Chestnut Street | Erie, PA 16501
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
©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.
AVAILABLE FOR SALE
15,472 ± SF, 3 UNIT COMMERCIAL BUILDING 1106 Chestnut Street | Erie, PA 16501
• 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
FOR MORE INFORMATION PLEASE CONTACTSherry BauerBrokerO. 814.453.2000 x 1 C. 814.460.2000SBauer@SherryBauerRealEstate.com
1315 Peninsula Drive, Suite 2 • Erie, PA 16505 • P. 814.453.2000 • F. 814.453.2001 • www.SherryBauerRealEstate.com
©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.
FOR MORE INFORMATION PLEASE CONTACTSherry BauerBrokerO. 814.453.2000 x 1 C. 814.460.2000SBauer@SherryBauerRealEstate.com
1315 Peninsula Drive, Suite 2 • Erie, PA 16505 • P. 814.453.2000 • F. 814.453.2001 • www.SherryBauerRealEstate.com
AVAILABLE FOR SALE
15,472 ± SF, 3 UNIT COMMERCIAL BUILDING 1106 Chestnut Street | Erie, PA 16501
UNIT 1: 11,971 ± SF Mixed-Use Space | 1110 Chestnut Street
3D Virtual Tour Available: https://my.matterport.com/show/?m=XBSktJ8eHNv
©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.
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
15,472 ± SF, 3 UNIT COMMERCIAL BUILDING 1106 Chestnut Street | Erie, PA 16501
• 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
FOR MORE INFORMATION PLEASE CONTACTSherry BauerBrokerO. 814.453.2000 x 1 C. 814.460.2000SBauer@SherryBauerRealEstate.com
1315 Peninsula Drive, Suite 2 • Erie, PA 16505 • P. 814.453.2000 • F. 814.453.2001 • www.SherryBauerRealEstate.com
©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.
AVAILABLE FOR SALE
15,472 ± SF, 3 UNIT COMMERCIAL BUILDING 1106 Chestnut Street | Erie, PA 16501
• 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
FOR MORE INFORMATION PLEASE CONTACTSherry BauerBrokerO. 814.453.2000 x 1 C. 814.460.2000SBauer@SherryBauerRealEstate.com
1315 Peninsula Drive, Suite 2 • Erie, PA 16505 • P. 814.453.2000 • F. 814.453.2001 • www.SherryBauerRealEstate.com
©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.
FOR MORE INFORMATION PLEASE CONTACTSherry BauerBrokerO. 814.453.2000 x 1 C. 814.460.2000SBauer@SherryBauerRealEstate.com
1315 Peninsula Drive, Suite 2 • Erie, PA 16505 • P. 814.453.2000 • F. 814.453.2001 • www.SherryBauerRealEstate.com
TAX MAP:
AVAILABLE FOR SALE
15,472 ± SF, 3 UNIT COMMERCIAL BUILDING 1106 Chestnut Street | Erie, PA 16501
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.
FOR MORE INFORMATION PLEASE CONTACTSherry BauerBrokerO. 814.453.2000 x 1 C. 814.460.2000SBauer@SherryBauerRealEstate.com
1315 Peninsula Drive, Suite 2 • Erie, PA 16505 • P. 814.453.2000 • F. 814.453.2001 • www.SherryBauerRealEstate.com
FEDERAL OPPORTUNITY ZONES:
©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.
AVAILABLE FOR SALE
15,472 ± SF, 3 UNIT COMMERCIAL BUILDING 1106 Chestnut Street | Erie, PA 16501
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/
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