14244 Ridge RdWest Springfield, PA 16443

  • Retail properties
  • 4,462 SF
For Sale
$99,000 View listing

Property Details for 14244 Ridge Rd

Year built
1930
Construction
WOOD FRAME
Lot size
2.66 AC
Property size (Sq ft)
4,462 SF
Zone code
C1
Property type
Retail properties
Property subtype
Turn key restaurants
APN
39-013-041.0-001.00
APU
39013041000100

Description

This exceptional 3-acre commercial property, located at 14244 Ridge Rd, West Springfield, PA 16443, presents a unique investment opportunity. Previously a gas station and convenience store, this 300 square foot, single-story building sits on a flat, three-acre lot with 12 parking spaces. The property boasts excellent visibility on busy Route 20, with a daily traffic count of 8,500 vehicles, ensuring high exposure for any business. The underground tanks have been removed, opening up a range of possibilities for redevelopment or repurposing. The property is zoned for a variety of uses, making it suitable for retail, automotive services, or other commercial ventures. The asking price of $99,000 is significantly below the cost of constructing a new facility of comparable size and location. This is a rare chance to acquire a well-situated commercial property in Erie County with immense potential for growth and return on investment. The property features one building, one unit, and is currently 100% occupied. The APN is 39-013-039-0-005, 39-013-039-0-004. This Class C retail property offers a single tenancy and presents a compelling opportunity for savvy investors.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,179,989
    6.5%
    $1,089,220
    7%
    $1,011,419
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,051,786
    Geo Method
    $1,051,786
  • Alternative Use

    Use
    Valuation
    Residential
    $918,798
    Hospitality
    $841,614
    Educational
    $700,213
    Medical
    $724,294
    Retail
    $1,089,220
14244 Ridge Rd, West Springfield, Pennsylvania

Location Insight

City
West Springfield
County
Erie
State
Pennsylvania
Latitude
41.9496
Longitude
-80.4905
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
$486
$26,200
-
$26,200
-
$26,200
-
$26,200

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