Building Details

Year Built 1962

Buildings 1

Stories 1

Units 1

Listing Agency: Baldwin Brothers Inc

Listed By: Drew Baldwin · License #RB011268A Show Phone

Source: Crexi

Added: Mar 28, 2025 Changed: Oct 2 Last Checked: Oct 14 at 11:25PM

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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 Baldwin Brothers Inc

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Investment Insights

Based on property information with market context.

This ±3.72-acre commercial land parcel includes a ±1,708-square-foot building constructed in 1962. The existing improvement may be reused or repurposed as part of a future commercial project, subject to applicable approvals.

The property is situated off Exit 41 of Interstate 90 in North East, Pennsylvania, providing access to the interstate network. B-1 (Business District) zoning supports a commercial development framework, while the source information identifies fuel station, quick-service restaurant, and travel center concepts as potential applications.

Key Highlights

• ±3.72 acres of commercial land
• Located off Exit 41 of Interstate 90
• ±1,708 SF existing building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,004

Cap Rate

2.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$480,080 $480.1K

Cap Rate 7%

$342,914 $342.9K

Cap Rate 9%

$266,711 $266.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,708 SF

Gross rent

$33.4K $19.56/SF

− Vacancy

−$1.4K −$0.82/SF

EGI

$32.0K $18.74/SF

− OpEx

−$8.0K −$4.68/SF

NOI

$24.0K $14.05/SF

Area

Erie County, PA

Vacancy

4.20%

Lease Rate

$19.56 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$480,080

Cap Rate 7%

$342,914

Cap Rate 9%

$266,711

Alternative Uses

Best Use

Specialty Retail

$342.9K

$300.1K – $400.1K (±1% cap)

NOI $24,004 @ 7.0% cap · market cap 2.82%

Second Best

Retail

$275.2K

$240.8K – $321.0K (±1% cap)

NOI $19,261 @ 7.0% cap · market cap 2.27%

Theoretical Best

Office A

$423.7K

$370.8K – $494.4K (±1% cap)

NOI $29,662 @ 7.0% cap · market cap 3.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Commercial land

Suggested Use

Top Pick Furniture & Home Goods Grocery & Convenience Store Pet Grooming Service Gym & Fitness Center (Bike/Boat/Book/etc) Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

38

Businesses Nearby

11k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 58% Hotels & Casinos 42%

Dollar General Shops & Services

6,173 visits/mo 0.2 miles

Holiday Inn Express & Suites North East, PA Hotels & Casinos

4,393 visits/mo 0.1 miles

Demographics for 16428, PA

12,524

Population

5,576

Households

2.2

Avg Household Size

43

Median Age

26%

College-Educated

92%

High-School Grad

73.6 sq mi

ZIP Area

170

Density / Sq Mi

$77,103

Median Household Income

$40,625

Median Earnings

$758

Median Rent

$188,100

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Commercial land - B-1-zoned commercial land includes an existing structure suitable for reuse or repurposing.

Where is this commercial land located?

The property is located at 6501 Station Rd North East, 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: ±3.72 acres of commercial land; Located off Exit 41 of Interstate 90; ±1,708 SF existing building