Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Wager Rd Erie, PA 16509
    Back to Search
    Property profile & analytics

    Wager Rd Erie, PA 16509

    View on Map
    • Land
    • 2.49 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Wager Rd

    Lot size
    2.49 lot acres
    Property type
    Land

    Description

    This exceptional 2.49-acre commercial lot presents a unique investment opportunity in Erie, Pennsylvania. Strategically located at 0 Wager Road, this raw land parcel offers significant potential for development. Its prime location boasts exceptional visibility from Interstate 90, thanks to the prominent pylon signage opportunities. The property is situated directly adjacent to a Wendy's restaurant, ensuring high traffic and excellent exposure for any future commercial venture. The asking price for this expansive lot is $225,000. Given its size, location, and visibility, this property represents a compelling investment for developers seeking a high-impact site in a thriving area. The land is currently in its raw state, providing a blank canvas for customized development plans. The property's address is 0 Wager Rd, Erie, PA 16509, within Erie County. The lot's coordinates are 42.0956157 latitude and -80.0072546 longitude. This is a rare opportunity to acquire a significant commercial parcel in a desirable location with excellent visibility and high traffic counts. Don't miss out on this chance to build your next successful commercial project.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.0073
    Latitude
    42.0956

    Comparable in this City

    • Value Estimation by Request
      2,705 SF

      2890 Copperleaf Pl

      Land • 2,705 SF
      2890 Copperleaf Pl, Erie, PA 16509
      View Details
    • Value Estimation by Request
      7.47 Acres

      8388 Peach St

      Land • 7.47 Acres
      8388 Peach St, Erie, PA 16509
      View Details
    • Value Estimation by Request

      Wager Rd

      Land
      0 Wager Rd, Erie, PA 16509
      View Details
    • Value Estimation by Request
      17.00 Acres

      2103 Edinboro Rd

      Land • 17.00 Acres
      2103 Edinboro Rd, Erie, PA 16509
      View Details
    • Value Estimation by Request
      10,000 SF

      Confidential

      Automotive properties • 10,000 SF
      0 Confidential, Erie, PA 16509
      View Details
    • Value Estimation by Request
      13.34 Acres

      8340 Oliver Rd

      Land • 13.34 Acres
      8340 Oliver Rd, Erie, PA 16509
      View Details

    Similar Nearby for Sale

    • $250,000
      Pending

      28 Acres of Versatile Land

      28 acres in Summit Township with pasture, woods, and creek.
      8835 Perry Hwy, Erie, PA 16509
      View Details
    • Contact for pricing

      Industrial Development Site on Oliver

      13.34 acre industrial development site near I-90.
      8340 Oliver Rd, Erie, PA 16509
      View Details
    • $1,695,000

      Prime Acreage on Peach Street

      Development site on major retail corridor with high visibility.
      6066 Peach St, Erie, PA 16509
      View Details
    • $300,000
      Pending

      Industrial Land with Road Frontage

      40+ acres of industrial-zoned land with frontage on two roads.
      8220 Wattsburg Road Ext, Erie, PA 16509
      View Details
    • Contact for pricing

      2.49 Acre Commercial Land Parcel

      2.49 acre commercial land parcel for sale.
      Wager Rd, Erie, PA 16509
      View Details
    • Contact for pricing
      0.71 Acres

      Erie, PA Zoned RMD Land

      Zoned RMD land suitable for single, two-family, short-term rentals.
      8180 Edinboro Rd, Erie, PA 16509
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      17 Acre Development Site Lease

      17 acre development site for ground lease.
      2103 Edinboro Rd, Erie, PA 16509
      View Details
    • Contact for pricing

      New Retail Space on Peach

      Prime retail space for lease in Erie, available fall 2026.
      5942 Peach St, Erie, PA 16509
      View Details
    • $15 SF/Yr
      865 SF

      Erie Commercial Space For Lease

      Commercial space for lease in modern living community.
      2890 Copperleaf Pl, Erie, PA 16509
      View Details
    • $15 SF/Yr
      2,705 SF

      Summit, PA Commercial Space

      Commercial space for lease in Copperleaf modern living community.
      2890 Copperleaf Pl, Summit, PA 16509
      View Details
    • Contact for pricing

      Highly Visible Mixed-Use/Retail Space

      Mixed-use/retail spaces available for lease in Liberty Center II.
      707 W 38Th St, Erie, PA 16509
      View Details
    • Contact for pricing

      Prime Retail/Commercial Property Available

      Former Toys 'R Us building near Millcreek Mall Complex.
      1920 Edinboro Rd, Erie, PA 16509
      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.
    Wager Rd
    Erie, PA 16509
    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
    Wager Rd, Erie, PA, 16509
    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!