Freestanding Mixed-Use Building For
3412 W Lake Rd Erie, PA 16505
For Sale
$495,000
6,335 SF mixed-use building with retail, storage, and office space.
Property Size6,335 SF
Lot Size0.36 Acres
Price / SF$78.14
Days on Market197
Property Features for 3412 W Lake Rd
General Information
Standard status
Active
Size
6,335 SF
Lot size
0.36 Acres
Listing Agency:
SBRE - Sherry Bauer Real Estate Services
(814) 453-2000
Listed By:
Sherry Bauer · License #RM422666
(814) 453-2000
Source:
Exprealty
Added: Jan 12
Changed: Jul 10
Last Checked: Jul 26 at 4:36PM
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 SBRE - Sherry Bauer Real Estate Services
Investment Insights
Based on property information with market context.
This 6,335± square foot freestanding building, constructed in 1942, is available for sale or lease. The layout includes a 2,990± square foot retail area, a 2,360± square foot storage/warehouse, a 480± square foot office with a restroom, and a 400± square foot break room with 2 restrooms. The property includes public utilities and 16 paved parking spaces. Situated on a 0.35± acre lot with 100 feet of frontage along W. Lake Road, the location benefits from 10,000 average daily traffic (PennDOT AADT 2024 count year) and is on a public bus route. It is located 1.1 miles west of Presque Isle State Park and Waldameer & Water World, near Royal Chopstix Asian Cuisine, Oregon Antiques, West Lake Bakery & Deli, Edmond’s Auto Service & Repair, Forest Park Honda & Garage, Fernetti’s Hair Design, and Lake Erie Massage Therapy. Zoned MU-1, Neighborhood Mixed-Use, the property permits multiple uses, including retail, convenience store, restaurant, day care center, health club, and medical marijuana dispensary.
Key Highlights
- Freestanding 6,335± SF building suitable for retail, storage, office, and break room.
- High‑traffic location with 100’ frontage on W. Lake Road (10,000 AADT).
- Zoned MU‑1, permitting multiple uses including retail, restaurant, and medical marijuana dispensary.
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.1k | $9.48 |
| − Vacancy | −$4.1k | −$0.64 |
| EGI | $56.0k | $8.84 |
| − OpEx | −$16.8k | −$2.65 |
| NOI | $39.2k | $6.18 |
6,335 SF · lease $9.48/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.38M
NOI $82,964 @ 7.0% cap · market cap 16.76%
Second Best
Retail
$1.02M
$893.0K – $1.19M
NOI $71,440 @ 7.0% cap · market cap 14.43%
Theoretical Best
Office A
$1.57M
$1.38M – $1.83M
NOI $110,016 @ 7.0% cap · market cap 22.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - 6,335 SF mixed-use building with retail, storage, and office space.
Where is this mixed-use property located?
The property is located at 3412 W Lake Rd Erie, PA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Freestanding 6,335± SF building suitable for retail, storage, office, and break room.; High‑traffic location with 100’ frontage on W. Lake Road (10,000 AADT).; Zoned MU‑1, permitting multiple uses including retail, restaurant, and medical marijuana dispensary.
