Irish Cousins Restaurant with
For Sale
$545,000
3922 Main St, Erie, PA 16511
Includes a liquor license, rental apartments, additional parking parcels, and interior and exterior security cameras.
Property Size5,928 SF
Days on Market96
Property Features for 3922 Main St
General Information
Standard status
Active
Size
5,928 SF
Property subtype
Retail - Restaurant
Additional Details
Business Included
Yes
Liquor License
Yes
Building Details
Building Size
5,928 SF
Listing Agency:
Coldwell Banker Select, REALTORS
Listed By:
Stephanie Montgomery · License #RS341122
(814) 636-0436
Source:
Commercialcafe
Added: Jul 13
Changed: Oct 14
Last Checked: Oct 16 at 5:44AM
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 Coldwell Banker Select, REALTORS
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Investment Insights
Based on property information with market context.
Irish Cousins is an operating restaurant business at 3922 Main St in Erie, Pennsylvania. The offering includes a liquor license, 16 security cameras positioned inside and outside, and additional residential space on the lower and upper levels. The apartments include two-bedroom and four-bedroom configurations, with current rental income noted in the property information but excluded here.
Three parcels are included: 29-010-047.0-017.00, 29-010-047.0-018.00, and 29-010-047.0-015.00. These parcels can be used for additional parking, adding flexibility to the property’s site configuration. The combination of a restaurant business, licensed alcohol service, apartment space, security equipment, and multiple parcels creates a mixed-use offering at a defined Erie address.
Three parcels are included: 29-010-047.0-017.00, 29-010-047.0-018.00, and 29-010-047.0-015.00. These parcels can be used for additional parking, adding flexibility to the property’s site configuration. The combination of a restaurant business, licensed alcohol service, apartment space, security equipment, and multiple parcels creates a mixed-use offering at a defined Erie address.
Key Highlights
- Operating Irish Cousins restaurant business at 3922 Main St, Erie, PA 16511
- Liquor license included
- Two additional rental apartments with 2‑bedroom and 4‑bedroom layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,433
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$728,660
$728.7K
Cap Rate 7%
$520,471
$520.5K
Cap Rate 9%
$404,811
$404.8K
Market Conditions
NOI Build-Up for 5,928 SF
Gross rent
$69.0K $11.64/SF
− Vacancy
−$2.8K −$0.47/SF
EGI
$66.2K $11.17/SF
− OpEx
−$29.8K −$5.03/SF
NOI
$36.4K $6.15/SF
Area
Erie County, PA
Vacancy
4.00%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$728,660
Cap Rate 7%
$520,471
Cap Rate 9%
$404,811
Alternative Uses
Best Use
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,311 @ 7.0% cap · market cap 15.29%
Second Best
Apartment 5plus
$520.5K
$455.4K – $607.2K
NOI $36,433 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $102,948 @ 7.0% cap · market cap 18.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
306
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 16511, PA
11,347
Population
4,861
Households
2.3
Avg Household Size
43
Median Age
32%
College-Educated
96%
High-School Grad
7.4 sq mi
ZIP Area
1,533
Density / Sq Mi
$71,644
Median Household Income
$41,998
Median Earnings
$871
Median Rent
$162,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes a liquor license, rental apartments, additional parking parcels, and interior and exterior security cameras.
Where is this conventional restaurant located?
The property is located at 3922 Main St Erie, PA.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Operating Irish Cousins restaurant business at 3922 Main St, Erie, PA 16511; Liquor license included; Two additional rental apartments with 2‑bedroom and 4‑bedroom layouts
