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    Property profile & analytics

    10081 Ridge Rd Girard, PA 16417

    • Strip malls
    • 38,944 SF
    • 5.79 lot acres
    For Lease
    View listing
    $4 SF/Yr
    Last Sale
    Feb 02, 2022
    $517,000
    Value Estimations
    $525,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-5987725
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Advanced Rehabilitation / Medical Clinic
    • Reese Plaza / Business Service Center / Corporate Office
    • C+C Archery & Outdoors / (Bike/Boat/Book/etc) Store
    • City Mission Thrifty Shopper / Discount Store
    • Michael Lariccia / Physician

    Property Details for 10081 Ridge Rd

    Year built
    1953
    Construction
    WOOD
    Lot size
    5.79 lot acres
    Property size
    38,944 SF
    Zone code
    R2
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    24-011-057.0-001.01
    APU
    24011057000101

    Description

    This exceptional 9,940-square-foot commercial property in Girard, Pennsylvania, is available for lease at $3,313 per month ($4/SF). Ideally situated at the corner of Route 20 and Route 18, this location boasts high visibility with 11,000 vehicles passing daily (VPD) and convenient access to I-90 (just two miles away). Currently undergoing renovations, the space features new foam ceiling insulation, updated lighting, and a refreshed facade. The property is classified as special purpose land with multiple tenants in the plaza. The entire 9,940 square feet is currently vacant and adaptable to various uses, including retail, showroom, office, or storage. The property includes 20 parking spaces. Net, Net, Net (NNN) costs are estimated at $0.29 per square foot for taxes and $0.15 per square foot for insurance. This prime commercial space presents a unique opportunity for businesses seeking a high-traffic location with modern amenities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $345,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $483,000
      Market price range: $483k - $1.34M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $810,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Girard
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.3365
    Latitude
    41.9928
    CBSA code
    21500
    CBSA name
    ERIE, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,275
    $104,500
    $310,800
    $415,300
    -
    $104,500
    $310,800
    $415,300

    Comparable in this City

    • Value Estimation by Request
      13,440 SF

      9135 Rdg Rd

      SHOPPING CENTER, STRIP CENTER • 13,440 SF
      9135 Rdg Rd, Girard, PA 16417-9645
      View Details
    • Value Estimation
      $765,000
      7,225 SF

      824 Main E St

      WHOLESALE OUTLET, DISCOUNT STORE • 7,225 SF
      824 Main E St, Girard, PA 16417-1722
      View Details
    • Value Estimation by Request
      0.23 Acres

      Main St

      PARKING LOT • 0.23 Acres
      Main St, Girard, PA 16417
      View Details
    • Value Estimation by Request
      610 SF

      212 Main W St

      DEPARTMENT STORE • 610 SF
      212 Main W St, Girard, PA 16417-1616
      View Details
    • Value Estimation by Request
      1,304 SF

      8163 Meadville Rd

      SERVICE STATION (FULL SERVICE) • 1,304 SF
      8163 Meadville Rd, Girard, PA 16417
      View Details
    • Value Estimation by Request
      1,692 SF

      7186 Rte 215

      AUTO REPAIR, GARAGE • 1,692 SF
      7186 Rte 215, Girard, PA 16417-9024
      View Details

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    Similar Nearby for Lease

    • $4 SF/Yr
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      Girard Retail/Office Space for Lease

      5,000 SF commercial space adaptable to retail, office, storage.
      10081 Ridge Rd, Girard, PA 16417
      View Details
    • $4 SF/Yr
      9,940 SF

      Girard Commercial Space For Lease

      9,940 SF commercial space suitable for retail, office, or storage.
      10081 Ridge Rd, Girard, PA 16417
      View Details
    • $4 SF/Yr

      Commercial Plaza Unit on Route 20

      5,000 SF unit adaptable for retail, office, or storage.
      10081 Ridge Rd, Girard, PA 16417
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    • Contact for pricing
      11,250 SF

      Retail Space in Girard, PA

      Retail property available for lease in Girard, Pennsylvania.
      9143 Ridge Rd, Girard, PA 16417
      View Details
    • $48 SF/Yr
      9,940 SF

      Girard, PA Commercial Space for Lease

      9,940 SF Commercial Space Available
      10081 Ridge Rd, Girard, PA 16417
      View Details
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    Girard, PA 16417
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    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
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