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5360 Lk Rd Erie, PA 16505-2842

OFF-MARKET Retail space Google Maps
3,506 SF 0.4 ac lot Built 1970
Entity Owned ~ Est. High Equity
Estimated value (blended)
$250k
Range $225k – $275k (±10%)
Property ID US73-1666520

Property summary

AI-generated overview

Lakeshore Teresa's Deli, an Erie institution for over 37 years, is available for sale. This turnkey opportunity includes the established business name, goodwill, all furnishings, fixtures, and equipment, and even the treasured recipes. The sale also encompasses the real estate, offered with a minimum 5-year net lease at a mutually agreeable rental rate. This presents a unique chance to acquire a well-established and profitable business with a strong reputation. The deli has been recognized with prestigious awards, earning the title of Erie's best Caterer/Catering Company AND Sub/Deli/Sandwich Shop in the 2024 Community Choice Awards. The property itself boasts a substantial 3,506 square feet situated on a 0.4-acre lot at 5360 W Lake Road in Erie, PA. The asking price for this exceptional package is $800,000. Seller financing is available for qualified buyers, making this an attractive investment opportunity for those seeking a proven business model with significant growth potential. The sale includes the business, real estate lease, and all assets necessary for immediate operation. This is a rare chance to own a piece of Erie's culinary history and build upon its already impressive success. Don't miss this opportunity to own a thriving, award-winning business in a prime location.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1970
Construction FRAME
Total area 3,506 SF
Lot 0.4 ac (17,402 SF)
Zoning code BB
APN 33-023-120.0-014.00
UPID US73-1666520

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
  • Nail Salon
  • Furniture & Home Goods
  • Food Market Restaurant

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$250k

Owner & transaction history

since 2025
Last sale
$700,000
3 recorded transactions
2025
$700,000
1969
Price N/A
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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