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    Buffalo Rd Erie, PA 16421

    Sponsored
    For Lease
    $36,000

    High-traffic corner lot, ideal for various businesses.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional commercial land lease opportunity presents three contiguous lots, each spanning 0.84 acres, situated at the highly visible intersection of Buffalo Road (Route 20) and Gifford Drive in Erie, Pennsylvania, zip code 16421. The property is located directly across from a Walmart Supercenter, offering unparalleled exposure to a substantial customer base. This prime location benefits from its adjacency to the newly constructed Harbor Village, a 200+ unit residential apartment complex, ensuring a consistent flow of potential customers. Each lot is available for a $36,000 annual NNN land lease. The possibility exists to lease a larger parcel, contingent upon the intended use. All necessary utilities are readily available on-site, simplifying the development process. The property's strategic location and high visibility make it exceptionally well-suited for a diverse range of commercial ventures, including restaurants, bars, cafes, retail establishments, offices, studios, or fitness centers. Nearby established businesses include Erie Bank and Bob Evans, further enhancing the area's commercial appeal. This is a rare opportunity to secure a prominent location in a thriving commercial area.

    Property Features for 0 Buffalo Rd

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    Total Rate
    36000

    Unit(s) available at that property

    Space
    Size
    0 SF
    Rate per SF
    $36,000
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -79.9412029
    Latitude
    42.1748367

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    FAQs

    What type of property is this?
    Land - High-traffic corner lot, ideal for various businesses.
    Where is this land located?
    The property is located at Buffalo Rd Erie, PA.
    What is the lease rate?
    The lease rate is $36,000.
    Request Owner's contact information
    Buffalo Rd Erie, PA 16421
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    Erie, PA 16421
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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

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    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
    Buffalo Rd Erie, PA 16421
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