1501 PENINSULA Drive, Erie, PA
$ 1,295,000
Property Attributes
  • MLS#165998
  • TypeLand
  • CountyERIE
  • CityErie
  • AreaMillcreek N of W26
  • Zip16505
  • StyleCommercial
  • Taxes$ 15559
  • Price$ 1,295,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage14348
  • Lot Size2.2032 Acres
Data Source:
Greater Erie MLS (GEMLS)
Property Description

2.2± acre commercial development site for sale. Site includes 3 corners including the signalized corner at Peninsula Drive & W. 15th Street. ±280’ frontage along Peninsula Drive - a high traffic corridor with 19,913 Average Annual Daily Traffic (2020). ±278’ Frontage on W. 15th Street. ±426’ Frontage on W. 16th Street. ±156’ Frontage on Hillborn Avenue. Zoned MU-2 & I-1. Many potential uses: retail, restaurant, hotel, etc. Will sub-divide to 1± acre. Also for lease at $130,000/AC/YR-NNN.

Price History
10/19/2022 Listed $1,800,000
3/16/2023 29% - $1,295,000

General Features

Sewer PublicSewer
Possession CloseOfEscrow,SubjectToTenantRights
Security Deposit 50000.0
Township Millcreek Township
Property SubType Commercial
Tax Year 2022
County Erie
New Construction No
Property Type Land
HOA / Comm Assn No
Attached Garage No
Garage Y/N No
Status Active
Directions Peninsula Drive from W. 15th & W. 16th Street & partially back to Hillborn Avenue. Currently Alek's Motorsports & New York Lunch.
ModificationTimestamp 2024-04-29T20:54:46.827-00:00
City Erie
View Y/N No
Senior Community Y/N No
High School District Millcreek
Zoning Description MU
MLS Area 5 - Millcreek N of W26
Waterfront Y/N No
Carport Y/N No
Property Attached Y/N No
Land Lease Y/N No
Tax Annual Amount 15559.0
Home Warranty Y/N No
Lease Renewal Y/N No
Additional Parcels Y/N No
Lease Considered Y/N No
Rent Control Y/N No
Days on Market 519
Standard Status Active
Middle/Junior School District Millcreek
Elementary School District Millcreek
Tax Assessed Value 625700
Property Sub Type Additional Commercial
MobileHomeRemainsYN No
PostalCity Erie

Interior Features

Basement (Y/N) No
Air Conditioning Y/N No
Heating Y/N No
Fireplace Y/N No
Street Suffix Drive
Electric On Property Y/N No
LivingAreaSource Assessor

Exterior Features

Lot Features CornerLot
Water Source Public
Lot Size Area 2.2032
Spa No
Building Area Total 14348.0
Lot Dimensions 280x426x280x278
Lot Size Acres 2.2032
Lot Size Units Acres
Crops Included Y/N No
Open Parking Y/N No
Horse Y/N No
Irrigation Water Rights Y/N No


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Land Average in 16505

AVG $280K
AVG $5,471
AVG 62
Data Provided by Inside Real Estate®
AVG 54
Data Provided by Walkscore® not using MLS data