Remodeled Restaurant and
For Sale
$525,000
3040 W LAKE Road, Erie, PA 16505
BusinessOpportunity, Erie, PA
Property Size5,906 SF
Lot Size0.44 Acres
Price / SF$88.89
Days on Market245
Property Features for 3040 W LAKE Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
RC-1
Parking
30
Elementary school district
Millcreek
Middle school district
Millcreek
High school district
Millcreek
Directions
Between 6th and 8th Streets, just West of Peninsula
Subdivision
5 - Millcreek N of W26
Standard status
Active
APN
33-029-064.0-002.00
Size
5,906 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7178
Expense value
65000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Listing Agency:
Coldwell Banker Select - Airpo · Coldwell Banker Real Estate
(814) 838-2299
Listed By:
Alisa McGraw · License #RS211632L
(814) 392-0999
Added: Jan 9
Changed: Sep 5
Last Checked: Sep 11 at 8:06AM
MLS# 189281
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.
The property includes a 5906-square-foot restaurant and bar on 0.44 acres, with a 1581-square-foot upstairs apartment containing three bedrooms. Restaurant improvements include updated flooring and lighting, along with kitchen and bar equipment. The sale includes refrigerators, fryers, a stove/oven, freezers, an ice machine, a POS system, security cameras, and a 25-tap beer system.
Built in 1920, the property has central air, natural gas forced-air heat, public water, and public sewer. The site is located near Waldameer and within minutes of Presque Isle.
Built in 1920, the property has central air, natural gas forced-air heat, public water, and public sewer. The site is located near Waldameer and within minutes of Presque Isle.
Key Highlights
- 5906‑square‑foot restaurant and bar on 0.44 acres
- 1581‑square‑foot upstairs apartment with 3 bedrooms
- 25‑tap beer system included
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
102k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 41%
Hotels & Casinos 1%
Sheetz
Shops & Services
21,935 visits/mo
0.2 miles
McDonald's
Dining
20,701 visits/mo
0.3 miles
Country Fair
Shops & Services
19,147 visits/mo
0.4 miles
Applebee's
Dining
15,352 visits/mo
0.4 miles
Taco Bell
Dining
14,725 visits/mo
0.4 miles
Demographics for 16505, PA
16,437
Population
8,407
Households
2
Avg Household Size
49
Median Age
45%
College-Educated
96%
High-School Grad
11.7 sq mi
ZIP Area
1,405
Density / Sq Mi
$71,370
Median Household Income
$45,793
Median Earnings
$871
Median Rent
$196,600
Median Home Value
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes a three-bedroom upstairs apartment, commercial kitchen equipment, bar fixtures, and a 25-tap beer system.
Where is this conventional restaurant located?
The property is located at 3040 W LAKE Road Erie, PA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 5906‑square‑foot restaurant and bar on 0.44 acres; 1581‑square‑foot upstairs apartment with 3 bedrooms; 25‑tap beer system included
