Tops Friendly Market

1702 East 38th Street, Erie, PA 16510, USA
$8,750,000 6.00% Cap 77,000 sq ft Representative Photo Print This Page


1702 East 38th Street, Erie, PA 16510, USA

Price: $8,750,000
Cap Rate: 6.00%
Net Operating Income: $525,000
Store Square Footage: 50,000
Warehouse Square Footage: 27,000
Total Square Footage: 77,000

100% Fee Simple InterestAbsolute NNN LeaseExcellent Access and VisibilityHeavily Trafficked LocationLocated on a Major Commercial ThoroughfareStrong Store SalesZero Landlord Obligations

This is a rare Tops Friendly Market fee simple absolute NNN lease in Erie, PA. The lease calls for zero landlord obligations. There are ten, five year options to renew. The asset is well situated at a major commercial thoroughfare with high traffic counts.

Erie is a city on the south shore of Lake Erie and the county seat of Erie County, Pennsylvania, United States.
The city was named for the Native American Erie people who lived in the area until the mid-17th century. Erie is the fifth-largest city in Pennsylvania, and the largest city in Northwestern Pennsylvania, with a population of 94,831 at the 2020 census. The estimated population in 2021 had decreased to 93,928. The Erie metropolitan area, equivalent to all of Erie County, consists of 266,096 residents. The Erie-Meadville combined statistical area had a population of 369,331 at the 2010 census.

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