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163 West 26th St
Erie, PA 16508
11,367 SF - Across from Hospital Former RAD · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Directly across from Saint Vincent Hospital, a 428-bed facility that recently completed a $110 million renovation
- Zoned C-4 (Traditional Neighborhood Commercial) allowing for a broad range of commercial uses
- Multiple points of ingress/egress with strong visibility and signage
- Rite Aid has occupied the site since 1998, reporting strong historical sales of approximately $13 million annually - Tenant is currently in Chapter 11
- Prime location at the intersection of West 26th Street and Sassafras Street with combined traffic counts exceeding 18,000 VPD
- Centrally located in the heart of downtown Erie, surrounded by a dense population and established infrastructure
EXECUTIVE SUMMARY
Encore Real Estate Investment Services, in conjunction with Bang Realty, proudly presents the opportunity to acquire a 11,367 SF former drugstore situated on 1.08 acres at a prime signalized intersection in Erie, Pennsylvania. Strategically located at the corner of West 26th Street and Sassafras Street, this highly visible property sits directly across from Saint Vincent Hospital, a major 428-bed medical facility that recently completed a $110 million renovation.
Previously occupied by Rite Aid since 1998 with reported historical sales of approximately $13 million annually, the site is now vacant due to the tenant's ongoing Chapter 11 restructuring. This offers investors, developers, or owner-users a rare chance to reposition a highly recognizable building in a densely populated corridor with strong retail and medical demand drivers.
Previously occupied by Rite Aid since 1998 with reported historical sales of approximately $13 million annually, the site is now vacant due to the tenant's ongoing Chapter 11 restructuring. This offers investors, developers, or owner-users a rare chance to reposition a highly recognizable building in a densely populated corridor with strong retail and medical demand drivers.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
11,367 SF
Building Class
B
Year Built
1998
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.08 AC
Zoning
AB7
Parking
60 Spaces (5.28 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Freeway Visibility
- Pylon Sign
- Drive Thru
PROPERTY TAXES
| Parcel Number | 19-060-054.0-147.00 | Improvements Assessment | $1,610,482 CAD |
| Land Assessment | $530,483 CAD | Total Assessment | $2,140,966 CAD |
PROPERTY TAXES
Parcel Number
19-060-054.0-147.00
Land Assessment
$530,483 CAD
Improvements Assessment
$1,610,482 CAD
Total Assessment
$2,140,966 CAD
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