Freestanding Flex Retail
3412 W Lake Rd Erie, PA 16505
For Sale
Contact for pricing
Freestanding building with retail, storage/warehouse, office, and break room on MU-1 mixed-use zoning.
Property Size6,335 SF
Lot Size0.36 Acres
Price / SF$78.14
Days on Market61
Property Features for 3412 W Lake Rd
General Information
- Standard status
- Active
- Size
- 6,335 SF
- Lot size
- 0.36 Acres
- Property subtype
- RETAIL
Listing Agency:
Sherry Bauer Real Estate Services (SBRE)
(814) 460-2000
Listed By:
Sherry Bauer · License #RM422666
(814) 460-2000
Source:
Moodyscre
Added: May 28
Changed: Jul 26
Last Checked: Jul 26 at 1:59AM
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 Sherry Bauer Real Estate Services (SBRE)
Investment Insights
Based on property information with market context.
This freestanding building was built in 1942 and served by public utilities. The layout includes approximately 2,990 SF of retail area and approximately 2,360 SF of storage/warehouse space, along with a 480 SF office with a restroom and a 400 SF break room with two restrooms. A floor plan and 3D tour are available for review.
The property sits on 0.355 acres with 100’ of frontage along W. Lake Road and includes 16 paved parking spaces. It is also located on a public bus route, with 10,000 average daily traffic reported by PennDOT (AADT 2024).
Zoned MU-1, Neighborhood Mixed-Use, the site is about 1.1 miles west of Presque Isle State Park and Waldameer & Water World, and it is near a variety of nearby businesses including restaurants, retail, and service uses.
The property sits on 0.355 acres with 100’ of frontage along W. Lake Road and includes 16 paved parking spaces. It is also located on a public bus route, with 10,000 average daily traffic reported by PennDOT (AADT 2024).
Zoned MU-1, Neighborhood Mixed-Use, the site is about 1.1 miles west of Presque Isle State Park and Waldameer & Water World, and it is near a variety of nearby businesses including restaurants, retail, and service uses.
Key Highlights
- 6,335± SF freestanding building built in 1942 for sale or lease
- Space includes 2,990± SF retail, 2,360± SF storage/warehouse, plus 480± SF office with restroom
- Includes a 400± SF break room with 2 restrooms
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
Retail
$1.02M
$893.0K – $1.19M
NOI $71,440 @ 7.0% cap · market cap 14.43%
Second Best
Warehouse
$679.7K
$594.7K – $792.9K
NOI $47,576 @ 7.0% cap · market cap 9.61%
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
Location Intelligence
Current Use by Public Records
Flex space
Similar Off Market Nearby
- Stephany Catering — 1022 wyoming ave, erie, pa 16505
FAQs
What type of property is this?
Flex space - Freestanding building with retail, storage/warehouse, office, and break room on MU-1 mixed-use zoning.
Where is this flex space 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: 6,335± SF freestanding building built in 1942 for sale or lease; Space includes 2,990± SF retail, 2,360± SF storage/warehouse, plus 480± SF office with restroom; Includes a 400± SF break room with 2 restrooms
