242 Shannon Rd Erie, PA 16510

Property Details for 242 Shannon Rd

Lot size

26.37 lot acres

Zone code

R3

Property type

Commercial real estate

APN

27-070-215.0-001.00

APU

27070215000100

Description

This exceptional 26.37± acre development site presents a unique investment opportunity in Erie, Pennsylvania. Ideally situated near Interstate 90 (Exit 32), this property boasts convenient access to major transportation routes, placing it within a 90-minute drive of Cleveland and Buffalo, and two hours from Pittsburgh. Its proximity to Penn State Behrend's campus, with its approximately 4,500 students, and the vibrant downtown Erie area, including Presque Isle State Park and its seven miles of sandy beaches, ensures high visibility and strong potential for development. The site itself offers 22.77± usable acres with significant road frontage: approximately 2,000 feet along the Bayfront Connector/State Route 290, ±1,800 feet along East 38th Street (including one curb cut), and ±800 feet along Shannon Road (including a signalized corner). High traffic counts are reported by PennDOT (2022): 8,300 AADT on the Bayfront Connector/Route 290, 4,700 AADT on Shannon Road, and 5,500 AADT on East 38th Street. Public utilities are available. Zoned PU (Public University), permitted uses include colleges, multi-family dwellings (up to 16 units per acre, totaling up to 364 units based on usable acreage), dormitories, and planned research and business parks. Tax incentives, including the LERTA tax abatement program, are available for development. The property is located in Harborcreek Township, Erie County, PA, and is offered at $796,950, or approximately $35,000 per acre (based on usable acreage). The property's APN is 27-070-215.0-001.00. A detailed flyer outlining permitted uses, yard, and height requirements is available upon request.