4935 Lake RdErie, PA 16511

Property Details for 4935 Lake Rd

Year built

1940

Construction

WOOD

Lot size

0.34 AC

Property size (Sq ft)

4,026 SF

Zone code

B1

Property type

Retail properties

Property subtype

Bars

APN

27-004-070.0-002.00

APU

27004070000200

Description

This exceptional turnkey opportunity presents the Creeks Bar & Grill, a thriving and profitable restaurant and tavern located at 4935 E Lake Rd, Erie, PA 16511. Boasting 4,026 square feet of space in a single-story building on a 0.34-acre lot, this well-established business is offered for sale at $399,900 ($99.33/sq ft). Built in 1940 and renovated in 2005, the property is zoned B-1 and features ample parking with 35 spaces. The sale includes the real estate, a valuable liquor license, all recipes, signage, goodwill, furnishings, fixtures, and equipment. Currently operating at 100% occupancy since June 9th, 2023, this is a rare chance to acquire a successful, established business with a proven track record. Detailed financial information is available upon execution of a confidentiality agreement. The property is privately owned and features one unit within a single building. The APN is 27-004-070.0-002.00. Don't miss this chance to own a piece of Erie's vibrant culinary scene.

• CAP approach

  CAP return

  Valuation

  6%

  $1,064,687

  6.5%

  $982,788

  7%

  $912,589

• Comparable approach

  Method

  Valuation

  Relative Method

  $949,012

  Geo Method

  $949,012

• Alternative Use

  Use

  Valuation

  Residential

  $829,019

  Hospitality

  $759,377

  Educational

  $631,792

  Medical

  $653,521

  Retail

  $982,788

Location Insight

City

Erie

County

Erie

State

Pennsylvania

Latitude

42.1682

Longitude

-80.0017

CBSA code

21500

CBSA name

ERIE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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