Millcreek commercial property offers residential, business promise
A three-building, two-parcel listing in the 3500 block of West 26th Street is both a residential and commercial property with a world of potential for its next owner.
Listed for $775,000, the property on 3535 W. 26th St. has both a home and office while the property at 3527 W. 26th St. has a six-room office on the first floor with two bedrooms and a living room on the second floor. At 3527 1/2 W. 26th St. stands a two-story brick home on a concrete slab. The current owners have used this building as a residential rental property.
In total, the three buildings have a combined nine bedrooms, three full bathrooms and three half bathrooms in 4,372 square feet of living space.
“There’s a ton of options here that appeal to a different buyer,” listing agent William Bucceri of Coldwell Banker Select. “If someone was strictly an investor and he wanted to buy some nice quality real estate, he in theory could lease out all three buildings and collect rent. He could live there and lease out the other two and collect rent. He could live there and work in one of them and maybe collect rent on the third one. It’s a full menu that appeals to a lot of scenarios.”
Bucceri noted that the owner installed underground conduit pipe with fiber-optic lines for high-speed internet to all three buildings. The owner is a financial planner and was required by the U.S. Securities and Exchange Commission to have redundant infrastructure in place to protect his clients’ sensitive information.
“It’s a neat thing that you don’t always talk about with real estate, so it’s ideal for someone that might want to live there and work there,” Bucceri said.
More:Charming 19th century Moorheadville Road house in Harborcreek looking for right owner
More:A backyard basketball court? This spacious Millcreek Township home has it
The 1.12-acres include 19 parking spaces and two covered parking spaces.
The brick buildings were constructed in 1949, according to Erie County property records. The annual tax bill is $6,052. The property is in the Millcreek Township School District.
“The finishes are spectacular; the attention to detail is incredible,” Bucceri said. “The interiors are really quite stunning. The hot buttons are this: You’ve got a nice chunk of land with high visibility on a state highway, good parking and there’s room to expand if you chose to.”
Property history:Erie Buildings website tells of Erie past through our downtowns, mansions and government halls
The property’s owner for the last 17 years, Donald Smith, runs his financial planning business, Provident Wealth Management, from the office space at 3527 W. 26th St. and lives in the home at 3535 W. 26th St. He converted what was a two-story brick garage into a freestanding apartment.
“He has spent a small fortune renovating them,” Bucceri said.
Smith, however, is “looking to simplify his life,” Bucceri said, noting that Smith owns other property out of state and that this is part of a “natural evolution” for someone in their mid-60s.
The property has been on the market for about five months, Bucceri said.
Contact Matthew Rink at email@example.com. Follow him on Twitter at @ETNrink.