Multifamily Property with Restaurant
7860 W RIDGE Road Fairview, PA 16415
7860 W RIDGE Road, Fairview, PA, 16415
$549,900
For Sale
$549,900
MULTI_FAMILY - Other - Fairview, PA
Property Size7,564 SF
Lot Size2.84 Acres
Price / SF$72.70
Days on Market18
Property Features for 7860 W RIDGE Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 15
- Bathrooms
- 6
- Rooms
- Bedroom 15, Bedroom 5, Bathroom 4, Bedroom 9, Bedroom 3, Bedroom 11, Bedroom 6, Bedroom 8, Bathroom 2, Bathroom 6, Bedroom 10, Bathroom 3, Bathroom 5, Bedroom 7, Bedroom 14, Bedroom 1, Bedroom 12, Bedroom 13, Bedroom 4, Bathroom 1, Bedroom 2
- Parking
- 20
- Parking features
- Garage
- Standard status
- Active
- APN
- 21-067-102.0-007.00
- Size
- 7,564 SF
- Lot size
- 2.84 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 5197
- Expense value
- 20000
- Expense
- SecurityDeposit
- Expense freq.
- One Time
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Window Unit(s)
- Water source
- Well
Building Details
- Year built
- 1863
- Floors in Building
- 3
- Building materials
- Brick
- Roof type
- Composition
- Architectural style
- Other
Listing Agency
Agresti Real Estate
(814) 459-9400
2635 W 26th Street, Erie, PA
Listed by
Jake Scheloske · License #RS318016
(814) 449-7973
Added: Jul 1 Checked: Jul 18 at 11:06 pm
MLS# 191801
Listing URL
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.
Investment Insights
Based on property information with market context.
This multifamily property for sale at 7860 W Ridge Road in Fairview, PA includes an existing restaurant space along with 15+ apartment units. The site also features an outbuilding, a finished lower level, and outdoor amenities including a wraparound deck, outdoor bar, and a fire pit area. Recent improvements noted include a new roof, a new HVAC system, and updated plumbing.
The property sits on 2.84 acres and offers ample parking. A potential liquor license opportunity is noted as something that may be able to be reinstated, subject to verification by the buyer.
Additional details such as exact unit count, liquor license status, and permitted uses should be verified by the buyer. Owner financing may be available to qualified buyers.
The property sits on 2.84 acres and offers ample parking. A potential liquor license opportunity is noted as something that may be able to be reinstated, subject to verification by the buyer.
Additional details such as exact unit count, liquor license status, and permitted uses should be verified by the buyer. Owner financing may be available to qualified buyers.
Key Highlights
- Brick building built in 1863 with composition roof
- 15+ apartment units plus existing restaurant space
- Recent updates include new roof, new HVAC system, and updated plumbing
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $88.0k | $11.64 |
| − Vacancy | −$3.5k | −$0.47 |
| EGI | $84.5k | $11.17 |
| − OpEx | −$38.0k | −$5.03 |
| NOI | $46.5k | $6.15 |
7,564 SF · lease $11.64/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,303 @ 7.0% cap · market cap 19.33%
Second Best
Apartment 5plus
$664.1K
$581.1K – $774.8K
NOI $46,488 @ 7.0% cap · market cap 8.45%
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,359 @ 7.0% cap · market cap 23.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - For sale in Fairview: multifamily building with existing restaurant space and new roof, HVAC, and updated plumbing.
Where is this apartment building located?
The property is located at 7860 W RIDGE Road Fairview, PA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Brick building built in 1863 with composition roof; 15+ apartment units plus existing restaurant space; Recent updates include new roof, new HVAC system, and updated plumbing
