Mixed-Use Property with Bar and
New
For Sale
$399,900
228 Main St, Girard, PA 16417
Nine efficiency apartments accompany a bar and grille and two additional commercial spaces.
Property Size5,799 SF
Price / SF$68.96
Days on Market4
Property Features for 228 Main St
General Information
Standard status
Active
Size
5,799 SF
Restaurant
Equipment Included
Yes
Liquor License
Yes
Units
Unit Mix
9 x efficiency
Multifamily Units
9
Additional Details
Furnished
Yes
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$3,021
Building Details
Tenancy
Multi
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Jake Scheloske · License #RS318016
(814) 449-7973
Source:
Exprealty
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 2:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Agresti Real Estate
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Investment Insights
Based on property information with market context.
This 5,799-square-foot mixed-use property at 228 Main St in Girard, Pennsylvania, combines residential units with commercial space. The building includes nine efficiency apartments, a 2,568-square-foot bar and grille, and two commercial spaces. Eight apartments use shared bathrooms; the ninth has a private bathroom.
The offering also includes furnishings, equipment, business goodwill, and a Pennsylvania liquor license. Its mix of apartment accommodations, hospitality space, and additional commercial areas brings several property components together at one address.
The offering also includes furnishings, equipment, business goodwill, and a Pennsylvania liquor license. Its mix of apartment accommodations, hospitality space, and additional commercial areas brings several property components together at one address.
Key Highlights
- 5,799 SF mixed‑use property with nine efficiency apartments
- 2,568 SF bar and grille
- Two additional commercial spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,640
Cap Rate
8.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$712,800
$712.8K
Cap Rate 7%
$509,143
$509.1K
Cap Rate 9%
$396,000
$396.0K
Market Conditions
NOI Build-Up for 5,799 SF
Gross rent
$67.5K $11.64/SF
− Vacancy
−$2.7K −$0.47/SF
EGI
$64.8K $11.17/SF
− OpEx
−$29.2K −$5.03/SF
NOI
$35.6K $6.15/SF
Area
Erie County, PA
Vacancy
4.00%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$712,800
Cap Rate 7%
$509,143
Cap Rate 9%
$396,000
Alternative Uses
Best Use
Specialty Retail
$1.16M
$1.02M – $1.36M
NOI $81,498 @ 7.0% cap · market cap 20.38%
Second Best
Mixed Use
$838.8K
$733.9K – $978.6K
NOI $58,715 @ 7.0% cap · market cap 14.68%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,708 @ 7.0% cap · market cap 25.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
9
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Explore this area
Business Placement
Demographics for 16417, PA
8,109
Population
4,165
Households
1.9
Avg Household Size
45
Median Age
30%
College-Educated
97%
High-School Grad
48.0 sq mi
ZIP Area
169
Density / Sq Mi
$80,410
Median Household Income
$44,722
Median Earnings
$666
Median Rent
$179,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Nine efficiency apartments accompany a bar and grille and two additional commercial spaces.
Where is this mixed-use property located?
The property is located at 228 Main St Girard, PA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 5,799 SF mixed‑use property with nine efficiency apartments; 2,568 SF bar and grille; Two additional commercial spaces
