Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    562-578 Park Ave Meadville, PA 16335
    Back to Search
    Property profile & analytics

    562-578 Park Ave, Meadville, PA 16335

    View on Map
    • Retail properties & Spaces
    • 5,500 SF
    • 68.64 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 562-578 Park Ave

    Year built
    1980
    Lot size
    68.64 lot acres
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail property, located at 562-578 Park Ave E in Meadville, Pennsylvania, presents a unique investment opportunity. The 5,500 square foot building, constructed in 1980, sits on a substantial 68.64-acre lot and features a two-story brick structure. The property is zoned R-1 and includes six parking spaces. The asking price is $1,500,000, translating to $273 per square foot. The building boasts central electric cooling, forced-air heating, and three wood-burning fireplaces. The property's existing structure is complemented by an asphalt roof. The property is conveniently located on a paved public road and features gas water heaters. The ample lot size and R-1 zoning offer significant potential for future development or expansion. This property is ideal for a variety of retail uses and presents a compelling opportunity for investors seeking a strong return in a desirable location. The property's parcel number is 33-0-019859. Further details are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Meadville
    County
    Crawford
    State
    Pennsylvania
    Longitude
    -80.1494
    Latitude
    41.6473

    Comparable in this City

    • Value Estimation by Request
      40,097 SF

      16881 Conneaut Lake Rd

      Restaurants
      16881 Conneaut Lake Rd, Meadville, PA 16335
      View Details
    • Value Estimation by Request
      3.66 Acres

      22710 State Hwy 27

      NURSERY, GREENHOUSE, FLORIST
      22710 State Hwy 27, Meadville, PA 16335-9302
      View Details
    • Value Estimation by Request
      1.00 Acre

      11436 Pennsylvania Ave

      NURSERY, GREENHOUSE, FLORIST
      11436 Pennsylvania Ave, Meadville, PA 16335
      View Details
    • Value Estimation by Request

      16086 Conneaut Lake Rd

      Restaurants
      16086 Conneaut Lake Rd, Meadville, PA 16335
      View Details
    • Value Estimation by Request

      Nn St

      OFFICE/RESIDENTIAL (MIXED USE)
      Nn St, Meadville, PA 16335
      View Details
    • Value Estimation by Request

      Downtown Mall

      COMMERCIAL (GENERAL)
      Downtown Mall, Meadville, PA 16335
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,088 SF

      Spacious Two-Story Commercial Building

      Versatile two-story commercial building in downtown Meadville for sale.
      215 Arch St, Meadville, PA 16335
      View Details
    • $389,000

      Retail Property at High-Traffic Intersection

      Retail property with high visibility and accessibility in Meadville, PA.
      560 Washington St, Meadville, PA 16335
      View Details
    • Contact for pricing
      3,375 SF

      Retail Property with Grocery Tenant

      Retail property with existing tenant and high traffic location.
      560 Washington St, Meadville, PA 16335
      View Details
    • Contact for pricing
      5,500 SF

      Turn-Key Golf Course and Bar

      Golf course, bar/restaurant, and residential property for sale.
      562 Park Ave E, Meadville, PA 16335
      View Details
    • Contact for pricing

      6.2 Acre Commercial Land Parcel

      Surveyed 6.2 acre wooded parcel suitable for commercial development.
      11448 N Dawn Dr, Meadville, PA 16335
      View Details
    • $66,000
      12.00 Acres

      Vacant Land Parcel Near Meadville

      Manageable land parcel with road frontage near Meadville and Conneaut.
      Tbd State Hwy 98, Meadville, PA 16335
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Walmart

      1,200 SF retail space available for lease.
      16039 Conneaut Lake Rd, Meadville, PA 16335
      View Details
    • Contact for pricing
      8,840 SF

      Retail Space in Downtown Meadville

      New construction retail space in the county seat.
      1121 Park Ave, Meadville, PA 16335
      View Details
    • $15 SF/Yr
      608 SF

      Retail Space in Meadville, PA

      Retail space for rent in high-traffic Meadville location.
      859 Park Avenue Ext, Meadville, PA 16335
      View Details
    • Contact for pricing

      Downtown Meadville Retail/Office Space

      Remodeled first-floor unit suitable for retail, office, or daycare.
      245 Chestnut St, Meadville, PA 16335
      View Details
    • $385,000
      6,283 SF

      Retail Investment Property in Meadville

      Income-producing retail property with long-term tenant in place.
      832 Park Avenue Ext, Meadville, PA 16335
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space Near Walmart

      Retail space available across from Walmart, co-tenants include Dollar Tree.
      16039 Grand Army Of The Republic Hwy, Meadville, PA 16335
      View Details
    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.
    562-578 Park Ave
    Meadville, PA 16335
    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
    562-578 Park Ave, Meadville, PA, 16335
    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!