5360 W Lake Rd 4,237 SF Retail Building Erie, PA 16505 $1,400,000 ($330.42/SF)
INVESTMENT HIGHLIGHTS
- Heavy daytime traffic
- Corner lot
- Iconic Erie Deli and Restaurant
- Signalized intersection
EXECUTIVE SUMMARY
An Erie icon is now available! Lakeshore Teresa's Deli is for sale, and the sale includes a three-unit plaza building; two outbuildings; name; business; goodwill; all furnishings, fixtures and equipment; recipes and sign. Established for over 37 years, the owner is finally ready to retire and pass this business on to the next profitable owner. Named Erie's best Caterer/Catering Company AND Sub/Deli/Sandwich Shop by the 2024 Community Choice Awards. Seller financing available for a qualified buyer.
Also available as business purchase only in conjunction with a minimum 5-year net lease of the real estate at a mutually negotiated rent. Business only priced at $800,000.
Also available as business purchase only in conjunction with a minimum 5-year net lease of the real estate at a mutually negotiated rent. Business only priced at $800,000.
TAXES & OPERATING EXPENSES (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
$3,945
|
$0.93
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$3,945
|
$0.93
|
PROPERTY FACTS
Sale Type
Owner User
Property Type
Retail
Property Subtype
Building Size
4,237 SF
Building Class
B
Year Built
1970
Price
$1,400,000
Price Per SF
$330.42
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.24
Lot Size
0.40 AC
Zoning
MU - MU-1 Mixed Use
Parking
22 Spaces (5.19 Spaces per 1,000 SF Leased)
Frontage
89’ on W Lake Rd
AMENITIES
- Corner Lot
- Pylon Sign
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 33-023-120.0-014.00 | Total Assessment | $145,700 |
| Land Assessment | $43,500 | Annual Taxes | $3,945 ($0.93/SF) |
| Improvements Assessment | $102,200 | Tax Year | 2024 |
