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    7870 W RIDGE Road unit 10 Fairview, PA 16415

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    For Lease
    $9 SF/Yr

    COMMERCIAL - Fairview, PA

    Property size:
    618 SF
    Lot size:
    2.30 Acres
    Added:
    Jan 17, 2024
    Days on Market:
    822
    Last Refresh:
    Apr 18 at 3:06 am

    Property Features for 7870 W RIDGE Road unit 10

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    21-067-102.0-008.01
    Size
    618 SF
    Lot size
    2.30 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    10589
    Expense value
    900
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    1994
    Building materials
    MetalSiding

    We can help!

    Listing Contact
    Dawn Nesbitt

    Listing agent Dawn Nesbitt License #RS226949L

    Listing office Marsha Marsh RES Peach 8840 Peach St, Erie, PA

    Listing date Jan 17, 2024

    MLS# 173537

    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.

    Overview

    Fairview Commercial Space For Rent

    This highly visible commercial building is located in close proximity to I-90 and a high traffic corridor. Suite #10 offers approximately 618 square feet of space. Permitted uses include restaurant, personal services such as barber/beauty salon or nail salon, shoe repair, bakery, retail sales, and professional office space. The suite features a shared vestibule and utility room with Unit #9, a reception area, two office spaces, a storage room, and one-half bath. The tenant is responsible for a snow plow fee of $100 per month from November to March, as well as utilities and telecommunications costs. Optional road signage is available for a fee. The property includes a paved parking lot. Current tenants include Tim's Automotive Service & Repair, Fun Fitness, Providence Reformed Baptist Church, Caring Chiropractic Services, Park's Tae Kwon Do, and Beth Ann's Therapeutic Massage. The owner is willing to repurpose the unit. Additional lease spaces are available. The property is situated on a 2.3-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tim's Automotive Service ... Auto Repair Shop Ellen S. Jackson, ... Alternative Medicine Practice Fun Fitness Gym & Fitness Center Park's Taekwondo Academy ... Training Center Bolt Storage Storage Facility

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairview
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.2648132
    Latitude
    42.0258167

    Nearby Similar for Lease

    • $9/mo

      Fairview Commercial Space For Lease

      Highly visible commercial space near I-90 in Fairview, PA.
      7870 W RIDGE Road unit: 9, Fairview, PA 16415
      View Details
    • Contact for pricing

      Modern Industrial Facility in Fairview

      Renovated 17,882 SF industrial facility near I-90.
      2455 Avonia Rd, Fairview, PA 16415
      View Details

    FAQs

    What type of property is this?
    Retail space - Highly visible commercial space near I-90 in Fairview, PA.
    Where is this retail space located?
    The property is located at 7870 W RIDGE Road unit 10 Fairview, PA.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: High visibility location with close proximity to I‑90 and a high‑traffic corridor.; Permitted uses include restaurant, personal services, retail, and professional office space.; Flexible space of approximately 618 sq ft with reception area, two offices, storage, and half‑bath.
    (814) 882-0647
    We can help!
    Listing Contact
    Dawn Nesbitt
    Real Estate License ID: RS226949L
    Learn More
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    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
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