Golf Course Property with
For Sale
$1,775,000
562 PARK Avenue E, Meadville, PA 16335
CommercialSale, Meadville, PA
Property Size5,500 SF
Lot Size68.64 Acres
Price / SF$322.73
Days on Market261
Property Features for 562 PARK Avenue E
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
R-1
Lot features
Mineral Rights
Elementary school district
Crawford Central
Middle school district
Crawford Central
High school district
Crawford Central
Directions
South on Park Ave Ext. To the property on the West side of the road
Subdivision
19 - Meadville City
Standard status
Active
APN
33-0-019859
Size
5,500 SF
Lot size
68.64 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
21350
Expense value
50000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Well
Building Details
Building materials
Mixed
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Eric Hammill · License #RS342030
(814) 580-8232
Added: Jan 15
Changed: Sep 30
Last Checked: Oct 3 at 2:06AM
MLS# 189263
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.
Investment Insights
Based on property information with market context.
This 68.64-acre golf course property includes a 5,500-square-foot commercial component with bar and restaurant equipment, a liquor license, furnishings, fixtures, golf carts, and golf course maintenance equipment. The improvements also include a 4-bedroom, 4.5-bath brick home and a 40-by-60-foot garage with a lower-level workshop.
Located at 562 Park Avenue E in Meadville, Pennsylvania, the property is served by a well and public sewer. Building systems include forced-air natural gas heat and central air conditioning. The property’s existing golf, food-and-beverage, residential, and maintenance components provide a substantial operating base for continued use or future repositioning.
Located at 562 Park Avenue E in Meadville, Pennsylvania, the property is served by a well and public sewer. Building systems include forced-air natural gas heat and central air conditioning. The property’s existing golf, food-and-beverage, residential, and maintenance components provide a substantial operating base for continued use or future repositioning.
Key Highlights
- 68.64‑acre golf course property in Meadville, PA
- 5,500‑square‑foot commercial component with bar and restaurant equipment
- Sale includes liquor license, fixtures, furniture, golf carts, and maintenance equipment
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
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Golf course & driving range - Golf course asset with an operating bar and restaurant setup, residential improvements, and equipment for course maintenance.
Where is this golf course & driving range located?
The property is located at 562 PARK Avenue 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: 68.64‑acre golf course property in Meadville, PA; 5,500‑square‑foot commercial component with bar and restaurant equipment; Sale includes liquor license, fixtures, furniture, golf carts, and maintenance equipment
