Mixed-Use Development
For Sale
$1,200,000
4912 & 4916 W RIDGE Road, Erie, PA 16506
CommercialSale, Erie, PA
Property Size9,000 SF
Lot Size4.25 Acres
Price / SF$131.42
Days on Market48
Property Features for 4912 & 4916 W RIDGE Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
M-2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Parking
10
Lot features
Mineral Rights
Elementary school district
Millcreek
Middle school district
Millcreek
High school district
Millcreek
Directions
Turn onto W 23rd. from Asbury Rd. Property is on the left hand side driving towards Wegmans. Right next to GeorgeKo. Alternative access via W Ridge Rd
Subdivision
5 - Millcreek N of W26
Standard status
Active
APN
33-042-230.1-003.00
Size
9,131 SF
Lot size
4.25 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9890
Expense value
35000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
tool and dye shop
two-unit residential rental
mobile home
Building Details
Year built
1950
Building materials
Brick, VinylSiding
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Isaac Yurkewicz · License #RS333371
(814) 460-7538
Added: Sep 2
Changed: Oct 17
Last Checked: Oct 19 at 3:06AM
MLS# 192900
Copyright © 2026 Greater Erie Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 4.25-acre mixed-use property includes a 9,131-square-foot industrial component, a 9,000-square-foot tool and dye shop built in 1980, a two-unit residential rental, and a mobile home. The site includes brick and vinyl siding construction, forced-air and natural-gas heating, public water, and public sewer.
Access is provided from both W Ridge Rd and W 23rd St. The property is positioned along a commercial corridor in Erie and is near Wegmans, Chipotle, Starbucks, PNC, and Erie Insurance. MU-2 zoning supports multifamily residential, retail, office, service, medical, and integrated mixed-use concepts. Utilities extend across the lot, and the parcel can accommodate phased development or a single larger project.
Access is provided from both W Ridge Rd and W 23rd St. The property is positioned along a commercial corridor in Erie and is near Wegmans, Chipotle, Starbucks, PNC, and Erie Insurance. MU-2 zoning supports multifamily residential, retail, office, service, medical, and integrated mixed-use concepts. Utilities extend across the lot, and the parcel can accommodate phased development or a single larger project.
Key Highlights
- 4.25‑acre mixed‑use development site
- 9,131‑square‑foot property with a 9,000‑square‑foot tool and dye shop
- Tool and dye shop built in 1980
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,451
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,849,020
$1.8M
Cap Rate 7%
$1,320,729
$1.3M
Cap Rate 9%
$1,027,233
$1.0M
Market Conditions
NOI Build-Up for 9,131 SF
Gross rent
$164.4K $18.00/SF
− Vacancy
−$16.4K −$1.80/SF
EGI
$147.9K $16.20/SF
− OpEx
−$55.5K −$6.07/SF
NOI
$92.5K $10.13/SF
Area
Erie County, PA
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,849,020
Cap Rate 7%
$1,320,729
Cap Rate 9%
$1,027,233
Alternative Uses
Best Use
Mixed Use
$1.32M
$1.16M – $1.54M
NOI $92,451 @ 7.0% cap · market cap 7.70%
Second Best
Industrial
$806.8K
$705.9K – $941.2K
NOI $56,473 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$2.27M
$1.98M – $2.64M
NOI $158,573 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
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Business Placement
Demographics for 16506, PA
23,918
Population
10,309
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
96%
High-School Grad
13.6 sq mi
ZIP Area
1,759
Density / Sq Mi
$84,021
Median Household Income
$47,823
Median Earnings
$1,176
Median Rent
$224,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - MU-2 zoning, dual road access, and public utilities support a range of residential, retail, office, service, and medical uses.
Where is this mixed-use property located?
The property is located at 4912 & 4916 W RIDGE Road Erie, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4.25‑acre mixed‑use development site; 9,131‑square‑foot property with a 9,000‑square‑foot tool and dye shop; Tool and dye shop built in 1980
