Technical
Financial
Distress signals
Property profile

3250 Lk Rd Erie, PA 16505

OFF-MARKET
Office buildings
Property ID
US73-0101125
8,972 SF 1.53 ac lot Built 1983
Entity Owned 7-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

The property is an 8,972-square-foot office building on a 1.5-acre lot, constructed in 1983 and fully renovated in 2019. It is arranged across three floors with a mix of private offices and open workspace, supported by features including abundant natural light and modern interior finishes. The building is configured for single-tenant or multi-tenant use and can be subdivided to accommodate approximately 3 to 7 tenants; each floor includes windows, a reception area, waiting area, restrooms, and ADA accessibility via an elevator. There are 18 private offices in total, with 17 offices having windows, and two upper-floor offices providing balcony access. The building includes 6 restrooms and parking for approximately 40 vehicles. Security and utility features include a 3-zone alarm system, key fob access, an 85 kW natural gas generator with an automatic transfer switch, and fiber optic internet. An additional 560-square-foot garage with overhead doors on both ends is located on the property and is accessible via Baer and Stonegate Drives. The site offers additional space for potential expansion or added parking, and the property is zoned MU-1 (Millcreek Township).

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1983
Construction WOOD
Total area 8,972 SF
Lot 1.53 ac (66,690 SF)
Zoning code AB
APN 33-017-019.0-144.01
UPID US73-0101125

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Physician
  • Physician
  • Physician
  • Foster Care Service Social Service Agency
  • Physician

Location

3250 Lk Rd Erie, PA 16505-3691
Erie metro Census 10500 ERIE, PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$862k
Blend (final) Blend
$350k

Owner & transaction history

since 2019
4 recorded transactions
2019
$725,000
2017
Price N/A
2007
Price N/A
2002
$587,500

Zoning & alternative use

AB · Erie, PA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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