Commercial Development
For Sale
$850,000
4912 W RIDGE Road, Erie, PA 16506
CommercialSale, Erie, PA
Property Size9,000 SF
Lot Size3.13 Acres
Price / SF$93.09
Days on Market52
Property Features for 4912 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 3, Bathroom 2
Parking
10
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
3.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6817
Expense value
20000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1950
Building materials
AluminumSiding, VinylSiding
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Isaac Yurkewicz · License #RS333371
(814) 460-7538
Added: Sep 2
Changed: Oct 22
Last Checked: Oct 23 at 4:06PM
MLS# 192902
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 commercial land parcel includes a shop, a two-unit residential rental, and a mobile home. The shop was built in 1980. MU-2 zoning and utilities on site are among the property’s documented features.
The site fronts US RT 20 and has access between W 26th and W 23rd streets. Nearby businesses named include Wegmans, Chipotle, Starbucks, PNC, and Erie Insurance.
The site fronts US RT 20 and has access between W 26th and W 23rd streets. Nearby businesses named include Wegmans, Chipotle, Starbucks, PNC, and Erie Insurance.
Key Highlights
- MU‑2 zoning
- Utilities are on site
- Existing shop built in 1980
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,718
Cap Rate
7.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,254,360
$1.3M
Cap Rate 7%
$895,971
$896.0K
Cap Rate 9%
$696,867
$696.9K
Market Conditions
NOI Build-Up for 9,131 SF
Gross rent
$93.1K $10.20/SF
− Vacancy
−$3.5K −$0.39/SF
EGI
$89.6K $9.81/SF
− OpEx
−$26.9K −$2.94/SF
NOI
$62.7K $6.87/SF
Area
Erie County, PA
Vacancy
3.80%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,254,360
Cap Rate 7%
$895,971
Cap Rate 9%
$696,867
Alternative Uses
Best Use
Mixed Use
$1.32M
$1.16M – $1.54M
NOI $92,451 @ 7.0% cap · market cap 10.88%
Second Best
Multifamily LT 5
$896.0K
$784.0K – $1.05M
NOI $62,718 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$2.27M
$1.98M – $2.64M
NOI $158,573 @ 7.0% cap · market cap 18.66%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
25 ft
Clear height
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Commercial land - MU-2 zoning and on-site utilities accompany existing shop and residential improvements.
Where is this commercial land located?
The property is located at 4912 W RIDGE Road Erie, PA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: MU‑2 zoning; Utilities are on site; Existing shop built in 1980
