Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land in Hunter Ridge Title is generated by Realmo AI

    WINCHESTER Drive, Albion, PA 16401

    View on Map
    Claim this Listing
    For Sale
    $68,900

    LAND - Albion, PA

    Property size:
    59,620 SF
    Lot size:
    1.37 Acres
    Price / SF:
    $1.16/SF
    Added:
    Jul 20, 2024
    Days on Market:
    685
    Last Refresh:
    Jun 4 at 5:06 pm

    Property Features for WINCHESTER Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    13-027-040.0-004.09
    Size
    59,620 SF
    Lot size
    1.37 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    444
    Expense value
    5000
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Michael Corsi

    Listing agent Michael Corsi License #RS308350

    Listing office RE/MAX Real Estate Group Erie 2701 Evanston Ave, Erie, PA

    Listing date Jul 20, 2024

    MLS# 178083 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.

    HighLights

    • Utilities included: Water, Sewer, Gas, and Electric are already in place.
    • Most lots are just over an acre.
    • Wooded lots offering privacy and natural beauty.
    • Located on a paved cul‑de‑sac street, ensuring low traffic and a safe environment.
    • Offers a quiet, country‑like atmosphere.
    • Ready‑to‑build lots, bring your own builder.

    Overview

    Located in the Hunter Ridge Subdivision, these building lots offer a quiet, country atmosphere. The available lots, most of which are just over an acre and wooded, are ready for construction. Utilities including water, sewer, gas, and electric are already in place. The lots are situated on a paved cul-de-sac street. The property has a lot size of 1.369 acres, which is equivalent to 59620 square feet. The property is located in Albion, Erie County, Pennsylvania.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Albion
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.332143
    Latitude
    41.865893

    Nearby Similar for Sale

    • $109,900
      4,080 SF

      Albion Commercial Building For Sale

      Two-story commercial building in downtown Albion with parking lot.
      9 E STATE Street, Albion, PA 16401
      View Details
    • $179,900
      2,058 SF

      Albion Multifamily Property with Updates

      Updated duplex with long-term tenants and off-street parking.
      5 W PEARL Street, Albion, PA 16401
      View Details
    • $299,900
      2,908 SF

      Albion Triplex Investment Opportunity

      Immaculate three-unit property with strong rental history on large lot.
      10576 & 10578 E WASHINGTON Street, Albion, PA 16401
      View Details
    • $210,000

      Recreational Land with Creek Frontage

      24.64 acres of recreational land with creek and building potential.
      00 Cherry Hill Rd, Albion, PA 16401
      View Details
    • $49,900
      513,136 SF

      Wooded Land in Elk Creek

      11.78 acres of wooded land perfect for recreation.
      6 Highway N, Albion, PA 16410
      View Details
    • $39,500
      228,255 SF

      Land with Septic Approval

      5.24 acres of land with septic approval in Albion, PA.
      WEST Road lot: 1, Albion, PA 16401
      View Details
    • $44,500
      201,988 SF

      Albion, PA Land Opportunity

      4.637 acre lot for dream home in Albion, PA.
      WEST Road lot: 3, Albion, PA 16401
      View Details
    • $212,000

      Land Parcel in Springfield Township

      53.32 acre corner parcel in Springfield Twp, Albion, PA
      RTE 6N Street, Albion, PA 16401
      View Details
    • $59,500
      1,600 SF

      Albion Land with Barn

      Land with quality barn and multiple possibilities in Albion, PA.
      11120 WEST Road, Albion, PA 16401
      View Details
    • $65,500
      59,617 SF

      Residential Land in Hunter Ridge

      Building lots in a quiet, wooded country setting.
      WINCHESTER Drive, Albion, PA 16401
      View Details
    • $46,900
      34,045 SF

      Residential Land in Hunter Ridge

      Residential land with utilities in a quiet, established subdivision.
      10023 RESERVOIR Road, Albion, PA 16401
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Building lots in a quiet, wooded country setting.
    Where is this residential land & home lot located?
    The property is located at WINCHESTER Drive Albion, PA.
    What is the asking price?
    The asking price for this property is $68,900.
    What are key features of this property?
    This property features: Utilities included: Water, Sewer, Gas, and Electric are already in place.; Most lots are just over an acre.; Wooded lots offering privacy and natural beauty.
    (814) 434-9130
    We can help!
    Listing Contact
    Michael Corsi
    Real Estate License ID: RS308350
    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
    WINCHESTER Drive, Albion, PA 16401
    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!