Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    WEST Road lot 3 Albion, PA 16401

    View on Map
    Claim this Listing
    For Sale
    $44,500

    LAND - Albion, PA

    Property size:
    201,988 SF
    Lot size:
    4.64 Acres
    Price / SF:
    $0.22/SF
    Added:
    Feb 1, 2025
    Days on Market:
    454
    Last Refresh:
    May 1 at 11:06 pm

    Property Features for WEST Road lot 3

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    13-014-037.0-002.00
    Size
    201,988 SF
    Lot size
    4.64 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    411
    Expense value
    2000
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Sewer type
    Mound Septic

    We can help!

    Listing Contact
    Sue Morley Shaffer

    Listing agent Sue Morley Shaffer License #RS217916L

    Listing office Pennington Lines Real Estate 2535 W 26th St, Erie, PA

    Listing date Feb 1, 2025

    MLS# 181469 Listing URL

    Copyright © 2026 Greater Erie Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Albion, PA Land Opportunity

    This 4.637-acre lot in Albion, PA, offers an opportunity to build a dream home and enjoy country living. Mound septic is approved. Well and septic are the buyer's responsibility. Deed restrictions apply, and single-wide mobile homes are not permitted. Double-wide mobile homes are allowed if they are at least as new as 2020 and at least 28' x 40'.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Albion
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.303031
    Latitude
    41.875886

    Nearby Similar for Sale

    • $109,900
      4,080 SF

      Albion Commercial Building For Sale

      Two-story commercial building in downtown Albion with parking lot.
      9 E STATE Street, Albion, PA 16401
      View Details
    • $225,000

      Recreational Land with Creek Frontage

      24.64 acres of recreational land with creek and building potential.
      00 Cherry Hill Rd, Albion, PA 16401
      View Details
    • $299,900
      2,908 SF

      Albion Triplex Investment Opportunity

      Immaculate three-unit property with strong rental history on large lot.
      10576 & 10578 E WASHINGTON Street, Albion, PA 16401
      View Details
    • $59,500
      1,600 SF

      Albion Land with Barn

      Land with barn and well, suitable for various uses.
      11120 WEST Road, Albion, PA 16401
      View Details
    • $34,900
      470,568 SF

      Recreational Land Near Conneaut Creek

      10 acres of landlocked recreational property with creek access.
      ROUTE 6N Road, Albion, PA 16401
      View Details
    • $49,900
      513,136 SF

      Wooded Land in Elk Creek

      11.78 acres of wooded land perfect for recreation.
      6 Highway N, Albion, PA 16410
      View Details
    • $39,500
      228,255 SF

      Land with Septic Approval

      5.24 acres of land with septic approval in Albion, PA.
      WEST Road lot: 1, Albion, PA 16401
      View Details
    • $212,000

      Land Parcel in Springfield Township

      53.32 acre corner parcel in Springfield Twp, Albion, PA
      RTE 6N Street, Albion, PA 16401
      View Details
    • $68,900
      59,620 SF

      Residential Land in Hunter Ridge

      Building lots in a quiet, wooded country setting.
      WINCHESTER Drive, Albion, PA 16401
      View Details
    • $65,500
      59,617 SF

      Residential Land in Hunter Ridge

      Building lots in a quiet, wooded country setting.
      WINCHESTER Drive, Albion, PA 16401
      View Details
    • $46,900
      34,045 SF

      Residential Land in Hunter Ridge

      Residential land with utilities in a quiet, established subdivision.
      10023 RESERVOIR Road, Albion, PA 16401
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 4.637 acre lot for dream home in Albion, PA.
    Where is this residential land & home lot located?
    The property is located at WEST Road lot 3 Albion, PA.
    What is the asking price?
    The asking price for this property is $44,500.
    What are key features of this property?
    This property features: Approved for Mound Septic System; Build your dream home in a country setting; Double‑wide mobile homes permitted (restrictions apply)
    (814) 566-2794
    We can help!
    Listing Contact
    Sue Morley Shaffer
    Real Estate License ID: RS217916L
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    WEST Road lot: 3, Albion, PA 16401

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!