Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    4845 W Lake Rd Erie, PA 16505

    Pending
    For Sale
    $425,000

    MULTI_FAMILY - Other - Erie, PA

    Property size:
    6,800 SF
    Lot size:
    0.50 Acres
    Days on Market:
    44
    Last Refresh:
    Dec 14 at 6:06 am

    Property Features for 4845 W Lake Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    Rooms
    Bathroom 7, Bathroom 5, Bathroom 4, Bathroom 1, Bathroom 3, Bathroom 6, Bathroom 2
    Bathrooms
    4
    APN
    33-039-144.0-001.01
    Parking
    30
    Size
    6,800 SF
    Lot size
    0.50 Acres

    Taxes and HOA fees

    Expense value
    15000
    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

    Year built
    1974
    Floors in Building
    1
    Number of units
    7
    Building materials
    Block, Cedar
    Roof type
    Composition
    Architectural style
    Other

    Agresti Real Estate (814) 459-9400 [email protected]

    Listing agent Jake Scheloske (814) 449-7973 License #RS318016

    Listing date Nov 1, 2025

    MLS# 188088 Listing URL

    Copyright © 2025 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.

    Overview

    Route 5 Commercial Property

    Located along Route 5 in Northwest Millcreek Township, this commercial property offers visibility and traffic exposure on a half-acre lot. The 6,800+/- SF building includes 7 leased units plus an additional 8th unit previously owner-occupied. The property is supported by 4 bathrooms and about 30 parking spaces in front and rear lots. A local church anchors the property, with additional suites leased to established businesses, creating diversified rental income. Investors may value the cash flow and tenant mix, while owner-users can offset occupancy costs with built-in income. The property is positioned for long-term upside.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    US Imaging of Northwest ... Lawyer Light Heart Counseling-Therapy Social Worker Bill Kowalski PHD ... Psychologist Acts 2:42 Bible ... Church Theresa Peterson Counselor

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.191254
    Latitude
    42.077717

    Nearby Similar for Sale

    • $149,900
      4,144 SF

      Erie Multifamily Investment Opportunity

      Two buildings with potential for multi-unit conversion.
      631 Parade St, Erie, PA 16503
      View Details
    • $149,900
      4,144 SF

      Erie Commercial Opportunity: Two Buildings

      Two buildings near Gannon University, Erie Insurance, and Hamot Hospital.
      631 Parade St, Erie, PA 16503
      View Details
    • $425,000
      Pending

      Erie Commercial Property on Route 5

      Prime commercial property on Route 5 with income-producing units.
      4845 W Lake Rd, Erie, PA 16505
      View Details
    • $1,500,000
      Pending

      Turnkey Golf Course and Restaurant

      182+ acre golf course and restaurant with lake views.
      3730 Harbor Ridge Trl, Erie, PA 16510
      View Details
    • $3,799,900
      Pending

      72-Unit Investment Portfolio in Erie

      Cash-flowing investment opportunity with high cap rate and cash return.
      72 Unit Investment Package, Erie, PA 16502
      View Details
    • $119,900
      1,656 SF

      Erie Two-Unit Residential Property

      Well-maintained two-unit property with long-term tenants and off-street parking.
      1314 E 35Th St, Erie, PA 16504
      View Details

    FAQs

    What type of property is this?
    Investment property - Commercial property with multiple income streams in Millcreek Township.
    Where is this investment property located?
    The property is located at 4845 W Lake Rd Erie, PA.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: - Prime location on Route 5 in Northwest Millcreek Township with high visibility and strong traffic exposure.; - Multiple income streams from 7 leased units plus an 8th previously owner-occupied unit.; - Diversified tenant mix with a local church as an anchor tenant, providing stable rental income.
    (814) 449-7973
    Request Owner's contact information
    4845 W Lake Rd Erie, PA 16505
    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.
    4845 W Lake Rd
    Erie, PA 16505
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    4845 W Lake Rd Erie, PA 16505
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.