Flex Space with
For Sale
$272,000
1379 S MAIN Street, Meadville, PA 16316
CommercialSale, Meadville, PA
Property Size2,700 SF
Lot Size0.28 Acres
Price / SF$100.74
Days on Market94
Property Features for 1379 S MAIN Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
EDC
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
12
Elementary school district
Crawford Central
Middle school district
Crawford Central
High school district
Crawford Central
Directions
CCCH - Diamond to S Main, property on the left, corner of Clark Road & S. Main (Hwy 322).
Subdivision
19 - Meadville City
Standard status
Active
APN
3500-017-70014
Size
2,700 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2489
Expense value
2000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Cooling system
Central Air, Gas (Cooling)
Water source
Public
Building Details
Year built
1980
Building materials
Masonry, Steel
Listing Agency:
ERA Richmond Real Estate Service · ERA Real Estate
(814) 337-6000
Listed By:
David Gordon · License #AB066597
(814) 282-0975
Added: Jun 2
Changed: Aug 30
Last Checked: Sep 3 at 1:06AM
MLS# 191265
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 2,700-square-foot flex space was built in 1980 and features masonry and steel construction. The interior includes dedicated offices, a showroom, conference area, bathroom, storage area, and garage. The layout previously supported retail operations and offers a mix of finished workspace and utility-oriented areas.
Central air and gas cooling serve the building, with public water and public sewer in place. Located near downtown Meadville, the property is positioned on S Main Street within Crawford County.
Central air and gas cooling serve the building, with public water and public sewer in place. Located near downtown Meadville, the property is positioned on S Main Street within Crawford County.
Key Highlights
- 2,700‑square‑foot commercial building near downtown Meadville
- Masonry and steel construction with 1980 build year
- Includes offices, showroom, conference area, and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,699
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$333,980
$334.0K
Cap Rate 7%
$238,557
$238.6K
Cap Rate 9%
$185,544
$185.5K
Market Conditions
NOI Build-Up for 2,700 SF
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.
Gross rent
$25.6K $9.48/SF
− Vacancy
−$1.7K −$0.64/SF
EGI
$23.9K $8.84/SF
− OpEx
−$7.2K −$2.65/SF
NOI
$16.7K $6.18/SF
Area
Crawford County, PA
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$333,980
Cap Rate 7%
$238,557
Cap Rate 9%
$185,544
Alternative Uses
Best Use
Office B
$509.1K
$445.4K – $593.9K
NOI $35,634 @ 7.0% cap · market cap 13.10%
Second Best
Retail
$388.0K
$339.5K – $452.7K
NOI $27,159 @ 7.0% cap · market cap 9.98%
Theoretical Best
Office A
$669.8K
$586.1K – $781.5K
NOI $46,889 @ 7.0% cap · market cap 17.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 16316, PA
5,056
Population
3,474
Households
1.5
Avg Household Size
53
Median Age
25%
College-Educated
94%
High-School Grad
45.6 sq mi
ZIP Area
111
Density / Sq Mi
$64,906
Median Household Income
$40,362
Median Earnings
$782
Median Rent
$161,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Updated masonry and steel commercial building with offices, showroom, conference area, storage, and garage space.
Where is this flex space located?
The property is located at 1379 S MAIN Street Meadville, PA.
What is the asking price?
The asking price for this property is $272,000.
What are key features of this property?
This property features: 2,700‑square‑foot commercial building near downtown Meadville; Masonry and steel construction with 1980 build year; Includes offices, showroom, conference area, and bathroom
