Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers

    245 CHESTNUT Street unit 1St Fl Meadville, PA 16335

    View on Map
    Claim this Listing
    For Lease
    $1,900/Mo $21 SF/Yr (calc)

    COMMERCIAL - Meadville, PA

    Property size:
    1,080 SF
    Added:
    Nov 25, 2025
    Days on Market:
    163
    Last Refresh:
    May 7 at 9:06 am

    Property Features for 245 CHESTNUT Street unit 1St Fl

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    0000-000
    Size
    1,080 SF

    Taxes and HOA fees

    Tax Year
    2025
    Expense value
    3800
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Building materials
    Masonry

    We can help!

    Listing Contact
    David Schepner
    David Schepner

    Listing agent David Schepner License #RM422273

    Listing office Howard Hanna BK Conneaut Lake 12213 Midway Dr., MEADVILLE, PA

    Listing date Nov 25, 2025

    MLS# 188950

    Copyright © 2026 Greater Erie Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location in the heart of Downtown Meadville's business district on busy Chestnut Street.
    • Beautifully remodeled bathrooms.
    • Versatile space suitable for office, gathering spot, gallery, day care, retail, and more.
    • Spacious main room.
    • Includes two separate offices and a large kitchenette/breakroom/office.
    • Ready to occupy.

    Overview

    Downtown Meadville Commercial Space Available

    Located on Chestnut Street in downtown Meadville, this first-floor commercial unit offers 1,080 square feet of space. The property features remodeled bathrooms and a spacious main room. In addition to the main area, the layout includes two separate offices and a large kitchenette/breakroom/office in the back. This space is suitable for various uses, including office, gathering spot, gallery, day care, or retail.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Meadville
    County
    Crawford
    State
    Pennsylvania
    Longitude
    -80.1336
    Latitude
    41.6151

    Nearby Similar for Lease

    • $385,000 SF/Yr

      Retail Investment Property in Meadville

      Income-producing retail property with long-term tenant in place.
      832 PARK Avenue, Meadville, PA 16335
      View Details
    • $275,000 SF/Yr

      Downtown Meadville Commercial Building

      Spacious commercial building in downtown Meadville with high visibility.
      932 DIAMOND Park, Meadville, PA 16335
      View Details
    • $15 SF/Yr

      Retail Space in Meadville, PA

      Retail space for rent in high-traffic Meadville location.
      859 PARK Avenue, Meadville, PA 16335
      View Details
    • $112,000 SF/Yr

      Mixed-Use Property in Meadville, PA

      Mixed-use property with income potential in high-traffic Meadville location.
      859 PARK Avenue, Meadville, PA 16335
      View Details
    • Contact for pricing

      Downtown Meadville Retail/Office Space

      Remodeled first-floor unit suitable for retail, office, or daycare.
      245 Chestnut St, Meadville, PA 16335
      View Details
    • Contact for pricing

      Remodeled Office Space on Diamond

      33,000 sq ft office space in historic building.
      359 Walnut St, Meadville, PA 16335
      View Details
    • Contact for pricing

      Retail Space Near Walmart

      Retail space available across from Walmart, co-tenants include Dollar Tree.
      16039 Grand Army of the Republic Hwy, Meadville, PA
      View Details
    • Contact for pricing

      Retail Space in Downtown Meadville

      New construction retail space in the county seat.
      1121 Park Ave, Meadville, PA
      View Details
    • Contact for pricing

      Retail Space Near Walmart

      1,200 SF retail space available for lease.
      16039 Conneaut Lake Rd, Meadville, PA 16335
      View Details

    FAQs

    What type of property is this?
    Office units - Remodeled commercial space in the heart of Meadville's business district.
    Where is this office units located?
    The property is located at 245 CHESTNUT Street unit 1St Fl Meadville, PA.
    What is the lease rate?
    The lease rate is $1,900 /Mo.
    What are key features of this property?
    This property features: Prime location in the heart of Downtown Meadville's business district on busy Chestnut Street.; Beautifully remodeled bathrooms.; Versatile space suitable for office, gathering spot, gallery, day care, retail, and more.
    (814) 720-0810
    We can help!
    Listing Contact
    David Schepner
    David Schepner
    Real Estate License ID: RM422273
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    245 CHESTNUT Street unit: 1St Fl, Meadville, PA 16335
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!