Turnkey 9-Hole Golf
For Sale
$1,599,900
3730 Harbor Ridge Trl, Erie, PA 16510
Turnkey 9-hole golf course with a 280-yard driving range, clubhouse with deck views, and an included fully equipped restaurant.
Property Size3,232 SF
Lot Size182.00 Acres
Price / SF$495.02
Days on Market200
Property Features for 3730 Harbor Ridge Trl
General Information
Standard status
Active
Size
3,232 SF
Lot size
182.00 Acres
Additional Details
Business Included
Yes
Amenities
driving range
clubhouse
entertainment deck
lake views
Listing Agency:
Agresti Real Estate
(814) 449-7973
Listed By:
Jake Scheloske · License #RS318016
(814) 449-7973
Source:
Exprealty
Added: Jan 23
Changed: Jul 24
Last Checked: Aug 11 at 1:06PM
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
Investment Insights
Based on property information with market context.
This turnkey property includes the beautifully maintained 9-hole Harbor Ridge Golf Course, along with a 280-yard driving range featuring grass tees and target greens. A clubhouse with an entertainment deck overlooks the surrounding panoramic landscape.
The sale also includes Harbor View Grill, a fully equipped restaurant, as well as a pole garage and hundreds of thousands in top-tier equipment, according to the seller’s remarks. Site improvements are included for expanding the course to a full 18-hole configuration.
Set on expansive acreage with lake views and sunset scenery noted in the remarks, the property combines golf operations and food-and-beverage service in one offering.
The sale also includes Harbor View Grill, a fully equipped restaurant, as well as a pole garage and hundreds of thousands in top-tier equipment, according to the seller’s remarks. Site improvements are included for expanding the course to a full 18-hole configuration.
Set on expansive acreage with lake views and sunset scenery noted in the remarks, the property combines golf operations and food-and-beverage service in one offering.
Key Highlights
- Includes the 9‑hole Harbor Ridge Golf Course on 182+ acres
- 280‑yard driving range with grass tees and target greens
- Site improvements included for expanding to a full 18‑hole course
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,422
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$908,440
$908.4K
Cap Rate 7%
$648,886
$648.9K
Cap Rate 9%
$504,689
$504.7K
Market Conditions
NOI Build-Up for 3,232 SF
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.
Gross rent
$63.2K $19.56/SF
− Vacancy
−$2.7K −$0.82/SF
EGI
$60.6K $18.74/SF
− OpEx
−$15.1K −$4.68/SF
NOI
$45.4K $14.05/SF
Area
Erie County, PA
Vacancy
4.20%
Lease Rate
$19.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$908,440
Cap Rate 7%
$648,886
Cap Rate 9%
$504,689
Alternative Uses
Best Use
Specialty Retail
$648.9K
$567.8K – $757.0K
NOI $45,422 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$801.8K
$701.6K – $935.5K
NOI $56,128 @ 7.0% cap · market cap 3.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 16510, PA
24,515
Population
10,354
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
92%
High-School Grad
33.0 sq mi
ZIP Area
743
Density / Sq Mi
$64,938
Median Household Income
$40,064
Median Earnings
$796
Median Rent
$158,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Golf course & driving range - Turnkey 9-hole golf course with a 280-yard driving range, clubhouse with deck views, and an included fully equipped restaurant.
Where is this golf course & driving range located?
The property is located at 3730 Harbor Ridge Trl Erie, PA.
What is the asking price?
The asking price for this property is $1,599,900.
What are key features of this property?
This property features: Includes the 9‑hole Harbor Ridge Golf Course on 182+ acres; 280‑yard driving range with grass tees and target greens; Site improvements included for expanding to a full 18‑hole course
