Automotive Garage with Vehicle
For Sale
$179,900
9709 Station Rd, Erie, PA 16510
Two large garages and a 3-bedroom, 1-bath single-wide home on commercially zoned property.
Property Size980 SF
Lot Size2.70 Acres
Price / SF$183.57
Days on Market53
Property Features for 9709 Station Rd
General Information
Standard status
Active
Size
980 SF
Lot size
2.70 Acres
Taxes and HOA fees
Annual Taxes
$2,398
Listing Agency:
Coldwell Banker Select - Peach
(814) 453-4578
Listed By:
Carson Chesley · License #RS355155
(814) 873-8144
Source:
Exprealty
Added: Jul 15
Changed: Sep 2
Last Checked: Sep 5 at 9:40AM
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 Coldwell Banker Select - Peach
Investment Insights
Based on property information with market context.
This commercially zoned property offers multiple functional spaces for an automotive or mixed live/work setup, anchored by two large garages. One garage includes a vehicle lift and was previously used as a mechanic shop, while the additional garage provides extra storage for tools, equipment, or vehicles. A 3-bedroom, 1-bath single-wide home on-site adds flexibility as living quarters and/or office space. Two septic systems are already in place to support current use and potential future development.
Located at 9709 Station Rd, Erie, PA, the property is described as having strong visibility on a main route to Erie, supporting business access and customer awareness.
Overall, the combination of garage capacity, an existing lift, and on-site living/office space creates a practical configuration for an owner-operator or an end user seeking an automotive-focused property with room to grow.
Located at 9709 Station Rd, Erie, PA, the property is described as having strong visibility on a main route to Erie, supporting business access and customer awareness.
Overall, the combination of garage capacity, an existing lift, and on-site living/office space creates a practical configuration for an owner-operator or an end user seeking an automotive-focused property with room to grow.
Key Highlights
- 2.7‑acre commercially zoned property with two large garages and a 3‑bedroom, 1‑bath single‑wide home
- One garage includes a vehicle lift and was previously used as a mechanic shop
- Additional garage provides extra storage for tools, equipment, or vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,834
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$256,680
$256.7K
Cap Rate 7%
$183,343
$183.3K
Cap Rate 9%
$142,600
$142.6K
Market Conditions
NOI Build-Up for 980 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.1K $22.56/SF
− Vacancy
−$5.0K −$5.10/SF
EGI
$17.1K $17.46/SF
− OpEx
−$4.3K −$4.37/SF
NOI
$12.8K $13.10/SF
Area
Erie County, PA
Vacancy
22.60%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$256,680
Cap Rate 7%
$183,343
Cap Rate 9%
$142,600
Alternative Uses
Best Use
Office B
$183.3K
$160.4K – $213.9K
NOI $12,834 @ 7.0% cap · market cap 7.13%
Second Best
Retail
$157.9K
$138.1K – $184.2K
NOI $11,051 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$243.1K
$212.7K – $283.7K
NOI $17,019 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 16510, PA
24,515
Population
10,354
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
92%
High-School Grad
33.0 sq mi
ZIP Area
743
Density / Sq Mi
$64,938
Median Household Income
$40,064
Median Earnings
$796
Median Rent
$158,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- TK's Auto Service and Repair — 9191 Dougan Rd, North East, PA 16428
- Station Road Auto Repair — 9705 Station Rd, Erie, PA 16510
- Erie Auto Service — 9705 Station Rd, Erie, PA 16510
Frequently Asked Questions
What type of property is this?
Auto shop - Two large garages and a 3-bedroom, 1-bath single-wide home on commercially zoned property.
Where is this auto shop located?
The property is located at 9709 Station Rd Erie, PA.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: 2.7‑acre commercially zoned property with two large garages and a 3‑bedroom, 1‑bath single‑wide home; One garage includes a vehicle lift and was previously used as a mechanic shop; Additional garage provides extra storage for tools, equipment, or vehicles
