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Property profile

4934 Rdg Rd Erie, PA 16506

OFF-MARKET
Retail space
Property ID
US73-2424552
2,240 SF 0.94 ac lot Built 1971
Entity Owned ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 2,240 square foot commercial building, situated on a 1.66-acre lot in Erie, Pennsylvania, presents a unique investment opportunity. Boasting 177 feet of frontage along West Ridge Road, this property enjoys high visibility with an average daily traffic count of 17,554 (MPSI 2022). Its strategic location places it near major retailers including Wegmans, Lowe's, Walmart, Sheetz, Marco's Pizza, ErieBank, and a soon-to-open Starbucks. The building, constructed in 1971 and completely renovated in 2020, features two levels, each approximately 1,120 square feet. The main floor offers a reception area, open workspace, private office, break room with a full kitchen, a workroom, and an ADA-compliant restroom. The lower level includes a drive-in overhead door, two large storage rooms, a smaller storage room, a utility room, and a restroom with a shower. Ample parking is available in front and rear lots. The property's MU-2 zoning, designating it as a Corridor Mixed-Use District, allows for a variety of uses, including retail, professional services, light industrial, manufacturing, convenience store, bar/restaurant, and mixed-use (residential/commercial) developments. Private utilities are in place. A 3D tour and floor plans are available upon request. The asking price is $575,000, translating to $256.70 per square foot. This single-unit, Class C building presents a compelling opportunity for owner-users seeking a versatile and well-located commercial space. The APN is 33-042-230.1-018.00 & -017.00.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1971
Construction WOOD
Total area 2,240 SF
Lot 0.94 ac (40,798 SF)
Zoning code BB
APN 33-042-230.1-018.00
UPID US73-2424552

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Production Facility

Location

4934 Rdg Rd Erie, PA 16506-1215
Erie metro Census 10902 ERIE, PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$55k

Owner & transaction history

since 2025
Last sale
$550,000
6 recorded transactions
2025
$550,000
2022
Price N/A
2021
Price N/A
2020
Price N/A
2017
$62,000
1969
Price N/A

Zoning & alternative use

BB · Erie, PA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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