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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.