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    Lake Rd Erie, PA 16505

    For Sale
    $200,000

    5.22 Acres, R-1 Zoning, $200K

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 5.22-acre parcel presents a unique opportunity for residential development in desirable Erie, Pennsylvania. Located at 0 West Lake Road in Erie County, this property boasts a coveted R-1 Single Family Residential zoning designation, allowing for the construction of a single-family home. The expansive lot offers ample space for a custom-built residence, providing privacy and tranquility while remaining conveniently situated near Westlake Middle School. The address is 0 West Lake Rd, Erie, PA 16505, with GPS coordinates of 42.0893117 latitude and -80.1819043 longitude. The asking price for this remarkable land opportunity is $200,000. Buyers will appreciate the potential to create their dream home on this sizable lot in a sought-after area. The property's location within Millcreek Township offers access to local amenities and services, making it an ideal location for building a new residence. This is a rare chance to acquire a substantial piece of land in a highly desirable residential zone, ready for immediate development. Serious inquiries are encouraged to explore this exceptional opportunity. The property is zoned for single-family residential use only. All utilities are available at the street.

    Property Features for 0 Lake Rd

    General Information

    Property type
    Land
    Lot Size
    227,383 SF

    HighLights

    • $200,000 asking price for this Erie, PA land parcel.
    • 5.22 acres of residential land.
    • R‑1 Single Family Residential zoning.
    • Located in Millcreek Township, PA, near Westlake Middle School.
    • Property address: 0 West Lake Rd, Erie, PA 16505.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.1819043
    Latitude
    42.0893117

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    FAQs

    What type of property is this?
    Land - 5.22 Acres, R-1 Zoning, $200K
    Where is this land located?
    The property is located at Lake Rd Erie, PA.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: $200,000 asking price for this Erie, PA land parcel.; 5.22 acres of residential land.; R-1 Single Family Residential zoning.
    Request Owner's contact information
    Lake Rd Erie, PA 16505
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    Erie, PA 16505
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Lake Rd Erie, PA 16505
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