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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    578 Park Ave Meadville, PA 16335

    • Commercial real estate
    • 63.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-4824333
    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

    • Commercial real estate

    Property Details for 578 Park Ave

    Lot size
    63.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional Pennsylvania investment opportunity presents a unique blend of commercial real estate and recreational assets. Located at 578 Park Ave, Meadville, PA 16335, this 63-acre property encompasses the established Hailwood Golf Course and Safari Bar. The asking price is $1,500,000, offering a compelling 26.67% capitalization rate with a net operating income (NOI) of $400,000. The property includes a substantial brick home featuring four bedrooms and four and a half bathrooms, complemented by a luxurious 40x60 garage and a walkout basement. This meticulously maintained residence offers versatile conversion potential. The turnkey business opportunity includes the real estate, liquor license, all fixtures, furniture, golf carts, and equipment. The expansive 63-acre lot also includes a 1.55-acre parking lot. This property presents a multitude of development possibilities, including continued operation as a golf course, conversion into a housing development, or repurposing as an adventure park or outdoor concert venue. The property's location in Crawford County, Pennsylvania, provides convenient access to local amenities and transportation networks. This is a rare opportunity to acquire a profitable, established business with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Meadville
    County
    Crawford
    State
    Pennsylvania
    Longitude
    -80.1494219
    Latitude
    41.6473037

    Comparable in this City

    • $1,775,000
      5,500 SF

      Turn-Key Golf Course and Bar

      Operating golf course and bar/restaurant with included equipment and real estate.
      562 Park Ave E, Meadville, PA 16335
      View Details
    • $4,674,000
      14,005 SF

      Long-Term Leased Investment Opportunity

      Property leased to United States Veterans Affairs with long term lease.
      11200 Perry Hwy, Meadville, PA 16335
      View Details
    • $175,000
      1,590 SF

      Prime Commercial Land, Saegertown PA

      1,590 SF lot, I-79 access, high potential.
      16869 Pa 198, Meadville, PA 16335
      View Details
    • Contact for pricing
      1.17 Acres

      Undeveloped Land in Meadville, PA

      1.17 acre vacant building lot in West Mead Township.
      3210-072-6 Blooming Vly Rd, Meadville, PA 16335
      View Details
    • $40,000
      1.72 Acres

      Residential Land Near Fairgrounds

      1.7 acre residential land near shopping, hospital, and schools.
      3213-020-11-12-14 Leslie Rd, Meadville, PA 16335
      View Details
    • $425,000

      Meadville Development Site Near I-79

      7.4 acre development site with high traffic and public utilities.
      Cochranton Rd, Meadville, PA 16335
      View Details

    Similar Nearby for Sale

    • $1,775,000
      5,500 SF

      Turn-Key Golf Course and Bar

      Operating golf course and bar/restaurant with included equipment and real estate.
      562 Park Ave E, Meadville, PA 16335
      View Details
    • $4,674,000
      14,005 SF

      Long-Term Leased Investment Opportunity

      Property leased to United States Veterans Affairs with long term lease.
      11200 Perry Hwy, Meadville, PA 16335
      View Details
    • $175,000
      1,590 SF

      Prime Commercial Land, Saegertown PA

      1,590 SF lot, I-79 access, high potential.
      16869 Pa 198, Meadville, PA 16335
      View Details
    • Contact for pricing
      1.17 Acres

      Undeveloped Land in Meadville, PA

      1.17 acre vacant building lot in West Mead Township.
      3210-072-6 Blooming Vly Rd, Meadville, PA 16335
      View Details
    • $40,000
      1.72 Acres

      Residential Land Near Fairgrounds

      1.7 acre residential land near shopping, hospital, and schools.
      3213-020-11-12-14 Leslie Rd, Meadville, PA 16335
      View Details
    • $425,000

      Meadville Development Site Near I-79

      7.4 acre development site with high traffic and public utilities.
      Cochranton Rd, Meadville, PA 16335
      View Details

    Similar Nearby for Lease

    • $1,900 /Mo
      1,080 SF

      Downtown Meadville Commercial Space Available

      Remodeled commercial space in the heart of Meadville's business district.
      245 Chestnut St Unit, Meadville, PA 16335
      View Details
    • $17 SF/Yr
      20,000 SF

      Remodeled Office Space in Meadville

      33,000 SF office space in remodeled historical building.
      359 N Walnut St, Meadville, PA 16335
      View Details
    • $299,900
      3,983 SF

      Downtown Meadville Brick Building

      Versatile commercial space in a prime downtown location.
      932 Diamond Park, Meadville, PA 16335
      View Details
    • Contact for pricing
      8,840 SF

      Retail Space in Downtown Meadville

      New construction retail space in the county seat.
      1121 Park Ave, Meadville, PA 16335
      View Details
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    578 Park Ave
    Meadville, PA 16335
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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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