Mixed-Use Property with Upstairs
For Sale
$104,000
859 Park Ave, Meadville, PA 16335
Two-level configuration includes an occupied residential unit, adaptable lower-level space, and off-street parking.
Property Size1,216 SF
Price / SF$85.53
Days on Market240
Property Features for 859 Park Ave
General Information
Standard status
Active
Size
1,216 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,424
Amenities
off street parking
Listing Agency:
Howard Hanna BK Conneaut Lake
Listed By:
Cori Harmon · License #RS322267
(814) 382-5225
Source:
Exprealty
Added: Feb 18
Changed: Oct 15
Last Checked: Oct 14 at 11:22PM
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 Howard Hanna BK Conneaut Lake
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,216-square-foot mixed-use property includes an occupied residential unit on the upper level. The lower level offers flexibility for another residential unit or a business use, subject to applicable requirements. Off-street parking is included.
The property is located at 859 Park Ave in Meadville, PA. Its placement in the heart of Meadville provides an established in-town setting for a combined residential and commercial configuration.
The property is located at 859 Park Ave in Meadville, PA. Its placement in the heart of Meadville provides an established in-town setting for a combined residential and commercial configuration.
Key Highlights
- 1,216‑square‑foot mixed‑use property
- Occupied residential unit on the upper level
- Lower level may accommodate another residential unit or a business
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,329
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,580
$186.6K
Cap Rate 7%
$133,271
$133.3K
Cap Rate 9%
$103,656
$103.7K
Market Conditions
NOI Build-Up for 1,216 SF
Gross rent
$17.9K $14.76/SF
− Vacancy
−$987 −$0.81/SF
EGI
$17.0K $13.95/SF
− OpEx
−$7.6K −$6.28/SF
NOI
$9.3K $7.67/SF
Area
Crawford County, PA
Vacancy
5.50%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,580
Cap Rate 7%
$133,271
Cap Rate 9%
$103,656
Alternative Uses
Best Use
Retail
$174.7K
$152.9K – $203.9K
NOI $12,232 @ 7.0% cap · market cap 11.76%
Second Best
Apartment 5plus
$133.3K
$116.6K – $155.5K
NOI $9,329 @ 7.0% cap · market cap 8.97%
Theoretical Best
Office A
$301.7K
$264.0K – $352.0K
NOI $21,118 @ 7.0% cap · market cap 20.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,525
Businesses Nearby
165k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Shops & Services 27%
Superstores 18%
Groceries 15%
Big Lots
Superstores
29,288 visits/mo
0.3 miles
McDonald's
Dining
25,190 visits/mo
0.4 miles
Tops Friendly Markets
Groceries
22,767 visits/mo
0.2 miles
Country Fair
Shops & Services
19,683 visits/mo
0.2 miles
Wendy's
Dining
15,805 visits/mo
0.3 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
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level configuration includes an occupied residential unit, adaptable lower-level space, and off-street parking.
Where is this mixed-use property located?
The property is located at 859 Park Ave Meadville, PA.
What is the asking price?
The asking price for this property is $104,000.
What are key features of this property?
This property features: 1,216‑square‑foot mixed‑use property; Occupied residential unit on the upper level; Lower level may accommodate another residential unit or a business
