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 Market196
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
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.
