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    Property profile & analytics

    4935 Lk Rd Erie, PA 16511-1416

    • Bars
    • 4,026 SF
    • 0.34 lot acres
    OFF-MARKET
    Value Estimation
    $280,000
    Location Intelligence
    Property ID
    US73-1356242
    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

    • Creeks, Bar and Grille / Bar / Restaurant

    Property Details for 4935 Lk Rd

    Year built
    1940
    Construction
    WOOD
    Lot size
    0.34 lot acres
    Property size
    4,026 SF
    Zone code
    B1
    Property type
    Bars
    Property subtype
    Pubs
    APN
    27-004-070.0-002.00
    APU
    27004070000200

    Description

    This exceptional turnkey opportunity presents the Creeks Bar & Grill, a thriving and profitable restaurant and tavern located at 4935 E Lake Rd, Erie, PA 16511. Boasting 4,026 square feet of space in a single-story building on a 0.34-acre lot, this well-established business is offered for sale at $399,900 ($99.33/sq ft). Built in 1940 and renovated in 2005, the property is zoned B-1 and features ample parking with 35 spaces. The sale includes the real estate, a valuable liquor license, all recipes, signage, goodwill, furnishings, fixtures, and equipment. Currently operating at 100% occupancy since June 9th, 2023, this is a rare chance to acquire a successful, established business with a proven track record. Detailed financial information is available upon execution of a confidentiality agreement. The property is privately owned and features one unit within a single building. The APN is 27-004-070.0-002.00. Don't miss this chance to own a piece of Erie's vibrant culinary scene.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $260,000

    • CAP approach

      CAP return
      Estimation
      6%
      $325,000
      6.5%
      $320,000
      7%
      $315,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $315,000
      Geo Method
      $310,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $320,000
      Retail
      $405,000
      Mixed-Use
      $310,000
      Hospitality
      $395,000
      Educational
      $355,000
      Residential Income
      $370,000
      Energy
      $400,000
      Income-Based Land
      $400,000
      Food Service
      $305,000

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.0017
    Latitude
    42.1682
    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
    $6,934
    $55,800
    $207,400
    $263,200
    -
    $55,800
    $207,400
    $263,200

    Comparable in this City

    • Value Estimation
      $340,000
      3,400 SF

      4820 Lk Rd

      BAR, TAVERN • 3,400 SF
      4820 Lk Rd, Erie, PA 16511-1415
      View Details
    • Value Estimation
      $350,000
      10,272 SF

      4704 Lk Rd

      BAR, TAVERN • 10,272 SF
      4704 Lk Rd, Erie, PA 16511-1413
      View Details
    • Value Estimation
      $365,000
      2,910 SF

      4205 Lk Rd

      BAR, TAVERN • 2,910 SF
      4205 Lk Rd, Erie, PA 16511-1356
      View Details
    • Value Estimation by Request
      5,928 SF

      3922-24 Main St

      Restaurants • 5,928 SF
      3922-24 Main St, Erie, PA 16511
      View Details
    • Value Estimation
      $290,000
      360 SF

      5201 Iroquois Ave

      RESTAURANT • 360 SF
      5201 Iroquois Ave, Erie, PA 16511-2527
      View Details
    • Value Estimation
      $350,000
      6,761 SF

      2112 Lk Rd

      RESTAURANT • 6,761 SF
      2112 Lk Rd, Erie, PA 16511-1170
      View Details

    Similar Nearby for Sale

    • $545,000
      5,928 SF

      Erie Commercial Property with Apartments

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      View Details
    • $330,000
      3,061 SF

      Turn-Key Restaurant Opportunity in Erie

      Established restaurant with apartment near Presque Isle State Park.
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    • $1,500,000
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      Lawrence Park Gas Station/Store

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    • $1,500,000
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      Lawrence Park Commercial Opportunity

      Unbranded gas station and convenience store in Lawrence Park, Pennsylvania.
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    • $895,000
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      Versatile Commercial Property in Erie, PA

      16.82-acre commercial property with sports facility and redevelopment potential.
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      View Details
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    4935 Lk Rd
    Erie, PA 16511-1416
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    Realmo Value Estimation

    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.

    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.

    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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