14244 Ridge RdWest Springfield, PA 16443

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

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.

• 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

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