Building Details

Building Size 2,935 SF

Year Built 1935

Listing Agency: SBRE - Sherry Bauer Real Estate

Listed By: Sherry Bauer · License #RM422666 Show Phone

Source: Commercialcafe

Added: Jul 20 Changed: Oct 10 Last Checked: Oct 16 at 6:02AM

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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 SBRE - Sherry Bauer Real Estate

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Investment Insights

Based on property information with market context.

This restaurant property includes a fully equipped commercial kitchen, indoor dining for approximately 40 guests, and a renovated outdoor area with seating for approximately 46 plus benches. The dining room features hardwood floors, rustic finishes, French doors, a four-seat bar, and two ADA restrooms. A second-floor apartment with two bedrooms, one bathroom, and a separate entrance is included, along with loft storage, basement laundry and storage, and an exterior shed.

The property occupies a 0.48± acre corner lot at 6990 W. Lake Road, at W. Eaton Road in Fairview, Pennsylvania. More than 35 parking spaces are arranged across the front, side, and rear lots. Recent improvements include a new roof, updated electrical service, security system, mini split unit, 25-foot walk-in cooler/freezer, smoker, mop sink, privacy fence, and an ADA-accessible deck. The property is zoned R-2 and includes business equipment and furnishings.

Key Highlights

• 0.48± acre corner lot at W. Lake Road and W. Eaton Road
• Restaurant dining area seats ±40 indoors and ±46 outdoors
• Two‑bedroom, one‑bath apartment with separate entrance

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,152

Cap Rate

4.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$363,040 $363.0K

Cap Rate 7%

$259,314 $259.3K

Cap Rate 9%

$201,689 $201.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,935 SF

Gross rent

$27.8K $9.48/SF

− Vacancy

−$1.9K −$0.64/SF

EGI

$25.9K $8.84/SF

− OpEx

−$7.8K −$2.65/SF

NOI

$18.2K $6.18/SF

Area

Erie County, PA

Vacancy

6.80%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$363,040

Cap Rate 7%

$259,314

Cap Rate 9%

$201,689

Alternative Uses

Best Use

Specialty Retail

$589.3K

$515.6K – $687.5K (±1% cap)

NOI $41,248 @ 7.0% cap · market cap 10.31%

Second Best

Industrial

$259.3K

$226.9K – $302.5K (±1% cap)

NOI $18,152 @ 7.0% cap · market cap 4.54%

Theoretical Best

Office A

$728.1K

$637.1K – $849.5K (±1% cap)

NOI $50,970 @ 7.0% cap · market cap 12.75%

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

Property Analytics

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Current Use

The Que Abides Pit ... Restaurant

Suggested Use

Top Pick Restaurant Pharmacy Grocery & Convenience Store Computer & Electronic Repair Daycare Center Tech Support Center

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

21

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 16415, PA

9,898

Population

3,958

Households

2.5

Avg Household Size

44

Median Age

46%

College-Educated

98%

High-School Grad

23.3 sq mi

ZIP Area

425

Density / Sq Mi

$105,604

Median Household Income

$51,650

Median Earnings

$1,229

Median Rent

$286,300

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?

Conventional restaurant - Equipped commercial kitchen, indoor and outdoor dining areas, off-street parking, and a separate residential entrance support multiple uses.

Where is this conventional restaurant located?

The property is located at 6990 W Lake Road Fairview, PA.

What is the asking price?

The asking price for this property is $399,900.

What are key features of this property?

This property features: 0.48± acre corner lot at W. Lake Road and W. Eaton Road; Restaurant dining area seats ±40 indoors and ±46 outdoors; Two‑bedroom, one‑bath apartment with separate entrance