Bed & Breakfast with
For Sale
$524,900
650 PARK Avenue, Meadville, PA 16335
ResidentialIncome, Meadville, PA
Property Size4,176 SF
Lot Size1.57 Acres
Price / SF$125.69
Days on Market12
Property Features for 650 PARK Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-1
Bedrooms
4
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bathroom 1, Bathroom 5, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 4, Bathroom 4
Parking
6
Lot features
Landscaped, Sloped
Elementary school district
Crawford Central
Middle school district
Crawford Central
High school district
Crawford Central
Directions
I79 to exit 147A, to Rte. 19 N, to Park Ave.
Subdivision
19 - Meadville City
Standard status
Active
APN
33-0-019039
Size
4,176 SF
Lot size
1.57 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8372
Expense value
15000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
inground pool
cabana
pool house
landscaped grounds
fenced yard
private entrance
scenic lighting
stained-glass windows
marble flooring
updated kitchen
Building Details
Floors in Building
2
Number of units
1
Building materials
Cedar, Frame
Roof type
Composition, Slate
Architectural style
Other
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Jake Scheloske · License #RS318016
(814) 449-7973
Added: Sep 22
Changed: Sep 30
Last Checked: Oct 3 at 1:06AM
MLS# 193394
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.
Operating as a bed and breakfast, this 4,176-square-foot property contains four bedrooms, each with a private en-suite bath, and five full baths overall. The remodeled kitchen features custom finishes, while stained-glass windows, marble flooring, and other historic details remain. The 1.57-acre grounds include gardens, a fenced yard, an inground pool, cabana, and pool house. Garage parking accommodates four vehicles, with two attached spaces and two detached spaces.
The property is at 650 Park Avenue in Meadville, Pennsylvania. Public water and public sewer serve the site. Heating is natural gas and hot water, with window-unit cooling.
The property is at 650 Park Avenue in Meadville, Pennsylvania. Public water and public sewer serve the site. Heating is natural gas and hot water, with window-unit cooling.
Key Highlights
- Operating bed and breakfast with four bedrooms, each with a private en‑suite bath
- 4,176‑square‑foot property on 1.57 acres
- Inground pool with cabana and pool house
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
$25,291
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
4.82%
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%
$505,820
$505.8K
Cap Rate 7%
$361,300
$361.3K
Cap Rate 9%
$281,011
$281.0K
Market Conditions
NOI Build-Up for 4,176 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
$62.6K $15.00/SF
− Vacancy
−$9.4K −$2.25/SF
EGI
$53.2K $12.75/SF
− OpEx
−$28.0K −$6.69/SF
NOI
$25.3K $6.06/SF
Area
Crawford County, PA
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
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%
$505,820
Cap Rate 7%
$361,300
Cap Rate 9%
$281,011
Alternative Uses
Best Use
Hotel Hospitality
$361.3K
$316.1K – $421.5K
NOI $25,291 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$906.5K – $1.21M
NOI $72,522 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,336
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Bed & breakfast - Four bedrooms have private en-suite baths, complemented by a remodeled kitchen and historic architectural details.
Where is this bed & breakfast located?
The property is located at 650 PARK Avenue Meadville, PA.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Operating bed and breakfast with four bedrooms, each with a private en‑suite bath; 4,176‑square‑foot property on 1.57 acres; Inground pool with cabana and pool house
