Turn-Key Golf Course and
For Sale
Contact for pricing
562 Park Ave E, Meadville, PA 16335
Golf course, bar/restaurant, and residential property for sale.
Property Size5,500 SF
Price / SF$322.73
Days on Market179
Property Features for 562 Park Ave E
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Retail, Special Purpose
Zoning
R-1
Listing Agency:
Agresti Real Estate
(814) 449-7973
Listed By:
Jake Scheloske · License #PA RS.318016
Source:
Crexi
Added: Feb 13
Changed: Aug 11
Last Checked: Aug 11 at 1:15PM
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 is a turn-key business opportunity featuring the Safari Bar and Hailwood golf course. The sale encompasses the real estate, golf course, bar and restaurant equipment, liquor license, all fixtures and furniture, golf carts, and golf course maintenance equipment. The property includes everything needed to operate both businesses. Potential uses include continuing as a golf course and restaurant, or redevelopment as a housing development, adventure park, or outdoor venue. The sale also includes a four-bedroom, 4.5-bath brick home with a 40x60 luxury garage that has a lower-level workshop. The property size is 5500 square feet.
Key Highlights
- Turn‑key business opportunity: Golf course and bar/restaurant, fully equipped with licenses and inventory.
- Includes real estate: Safari Bar/Hailwood golf course plus a 4‑bedroom, 4.5‑bath brick home.
- Redevelopment potential for housing, adventure park, or outdoor venue.
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
$85,752
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
4.83%
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%
$1,715,040
$1.7M
Cap Rate 7%
$1,225,029
$1.2M
Cap Rate 9%
$952,800
$952.8K
Market Conditions
NOI Build-Up for 5,500 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
$127.4K $23.16/SF
− Vacancy
−$13.0K −$2.37/SF
EGI
$114.3K $20.79/SF
− OpEx
−$28.6K −$5.20/SF
NOI
$85.8K $15.59/SF
Area
Crawford County, PA
Vacancy
10.24%
Lease Rate
$23.16 /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%
$1,715,040
Cap Rate 7%
$1,225,029
Cap Rate 9%
$952,800
Alternative Uses
Best Use
Specialty Retail
$1.23M
$1.07M – $1.43M
NOI $85,752 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,515 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
840
Businesses Nearby
44k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 49%
Country Fair
Shops & Services
19,683 visits/mo
0.4 miles
Burger King
Dining
15,775 visits/mo
0.5 miles
Little Caesars Pizza
Dining
6,680 visits/mo
0.4 miles
McCandless Ford
Shops & Services
1,317 visits/mo
0.5 miles
OneMain Financial
Shops & Services
722 visits/mo
0.4 miles
Demographics for 16335, PA
27,452
Population
12,547
Households
2.2
Avg Household Size
43
Median Age
26%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
240
Density / Sq Mi
$58,531
Median Household Income
$32,692
Median Earnings
$892
Median Rent
$149,500
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 - Golf course, bar/restaurant, and residential property for sale.
Where is this golf course & driving range located?
The property is located at 562 Park Ave E Meadville, PA.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: Turn‑key business opportunity: Golf course and bar/restaurant, fully equipped with licenses and inventory.; Includes real estate: Safari Bar/Hailwood golf course plus a 4‑bedroom, 4.5‑bath brick home.; Redevelopment potential for housing, adventure park, or outdoor venue.
