14244 Ridge RdWest Springfield, PA 16443
- Retail properties
- 4,462 SF
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
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
Comparable in this City
FAQs
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