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    3040 Lake Rd Erie, PA 16505

    For Sale
    $650,000

    Prime Location, Newly Remodeled, High Potential

    Property size:
    5,906 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    306
    This exceptional 5,906 square foot restaurant and bar is ideally situated in Erie, PA, just moments from Waldameer Park and minutes from Presque Isle State Park. The property boasts a newly remodeled interior, featuring updated flooring and lighting throughout. The fully equipped kitchen includes refrigerators, fryers, a stove/oven, freezers, and an ice machine. A 25-tap beer system is also included, along with all bar equipment, a point-of-sale system, and security cameras. An added bonus is a beautifully remodeled 1,581 square foot, three-bedroom apartment located upstairs, offering versatile options for owners or additional income potential. The property sits on a 0.44-acre lot. This turnkey operation presents a fantastic opportunity for a savvy entrepreneur. The business is available for sale at $650,000. A separate liquor license is available for purchase at $125,000. Flexible options are available, including sale, lease, lease-to-own, or separate rental of the apartment. Detailed information is available upon request.

    Property Features for 3040 Lake Rd

    General Information

    Property type
    Investment properties
    Square Feet
    5,906 SF
    Lot Size
    19,166 SF

    Building Details

    Year Built
    1920
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Investment properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.15359
    Latitude
    42.10375

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    FAQs

    What type of property is this?
    Investment property - Prime Location, Newly Remodeled, High Potential
    Where is this investment property located?
    The property is located at 3040 Lake Rd Erie, PA.
    What is the asking price?
    The asking price for this property is $650,000.
    (814) 838-2299
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    3040 Lake Rd Erie, PA 16505
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    Erie, PA 16505
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    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
    3040 Lake Rd Erie, PA 16505
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