AVAILABLE TURN-KEY SPECIAL EVENT & FOR SALE ......Turn-key special event and banquet facility on the shore of Lake Erie now available for sale. Operating as The Sunset Inn since 1987,

HIGHLIGHTS:

©2019 Sherry Bauer Real Estate Services. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.

• Turn-Key Opportunity – Sunset Inn

• 5,781 ± SF Special Event & Banquet Facility

• Built in 1923 with Numerous Updates & Traditional Charm

• Featuring Commercial Kitchen, Bar, Dining Room, Caretaker Apartment & More

• Two Stone Woodburning Fireplaces

• Indoor Seating for Up to 200 – 36 Windows to View Lake

• Landscaped Outdoor Grounds with Spectacular 180° Views of Lake Erie

• Deck Overlooking Lake, Gazebo & Park-Like Landscaped Grounds

• Situated on 2.56 ± Acres on Lake Erie with 370’ ± Lake Frontage & Public Utilities

• Parking for 75 ± Vehicles

• Package Includes Business, Real Estate, All Equipment, Mineral Rights & Goodwill

• Tour Online at https://my.matterport.com/show/?m=KyzWCKzzrAN

OFFERED AT:

$695,000

FOR MORE INFORMATION PLEASE CONTACTCharlie Dailey, IIISenior AssociateO. 814.453.2000 x 103 C. [email protected]

Sherry BauerBrokerO. 814.453.2000 x 101 C. [email protected]

1315 Peninsula Drive, Suite 2 • Erie, PA 16505 • P. 814.453.2000 • F. 814.453.2001 • www.SherryBauerRealEstate.com

AVAILABLE FOR SALE TURN-KEY SPECIAL EVENT &

BANQUET CENTER ON LAKE ERIESunset Inn | 1990 Lakeside Drive | Erie, PA 16511

https://my.matterport.com/show/?m=KyzWCKzzrAN

Legal Address 1990 Lakeside Drive | Erie, PA 16511

Total Structure Size (SF)

5,781 SF325 SF

Main BuildingShed

Lot Size 2.5692 Acres

ZonedR-1, Low Density Residential with Legal, Non-Conforming Use: Eating & Drinking Establishment & Single Family Dwelling

Year Built 1923

Utilities Public

Heating Gas Steam Heat

Cooling Central Electric Air Conditioning

Hot Water Electric Hot Water Tank

Roof Replaced in 2014

List Price $695,000

SUMMARY: Turn-key special event and banquet facility on the shore of Lake Erie now available for sale. Operating as The Sunset Inn since 1987, the offering gives the buyer a unique opportunity to own a charming, popular facility situated on over 2.5 acres with approximately 370’ lake frontage allowing guests and patrons a gorgeous backdrop for their special events. The 5,781 ± SF facility offers traditional charm with modern updates. The facility features gleaming hardwood floors, two stone fireplaces, 36 windows to enjoy lake views from indoors, a large deck, gazebo and landscaped green space for outdoor events.

The property is situated in the City of Erie, Pennsylvania along Lake Erie. It is centrally located 1.5 hours from Buffalo, Cleveland & Pittsburgh. It is located in close-proximity to major local thoroughfares, 6 miles from I-79 & 10 miles from I-90. The Greater Erie area is home to Presque Isle State Park with over 4,000,000 annual visitors to its 13 beaches, Waldameer & Water World amusement park, UPMC Park baseball stadium, Erie Insurance Arena, multiple museums, playhouses and over 50 wineries, distilleries & craft breweries. Together these touristic attractions make Erie an excellent destination for major event ceremonies.

The property is eligible for several tax incentive programs. It is included in the LERTA tax abatement area offering reduced property taxes on any improvements requiring a building permit that increase the assessed value of the property. It is also eligible for the Federal Opportunity Zone capital gains tax abatement program.

AVAILABLE FOR SALE

SPECIAL EVENT & BANQUET FACILITYSunset Inn | 1990 Lakeside Drive | Erie, PA 16511




PENN

SYLVA

NIA

OH

IO

L A K E E R I E

Fredonia

Buffalo

Cleveland

PittsburghAltoona

©2019 Sherry Bauer Real Estate Services. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Map Data ©2019 Google.

Distance to Nearby CitiesBuffalo 92 MilesCleveland 106 MilesPittsburgh 131 Miles

Sunset InnErie

HIGHLIGHTS:

• Large Open Event Areas • Sample Buffet Set-Up• Beautifully Refinished Hardwood Floors

• Facility Features Two, Wood-Burning Fireplaces

• All Tables, Chairs, China, Serve Ware, Etc. Included In Sale

B a n q u e t R o o m w i t h S t o n e F i r e p l a c e

B a n q u e t R o o m w i t h S t o n e F i r e p l a c e

• 5,781 SF Lakefront Facility • Parking For Up to 75 Vehicles• Situated on 2.57 Acres

P a r k - L i k e G r o u n d s O v e r l o o k i n g L a k e E r i e

AVAILABLE FOR SALE





HIGHLIGHTS:

• Fully Equipped BYO Bar

• All Equipment Included in Sale • Large Walk-In Cooler• Ample Storage & Prep Area

B a r & R e s t r o o m s

• Seating for Up to 200 • Dining Areas Overlook Lake Erie• Two Fireside Dining Options

I n d o o r S e a t i n g

AVAILABLE FOR SALE





F u l l y E q u i p p e d K i t c h e n

OUTDOOR AREA HIGHLIGHTS:

• Lakeside Wedding & Event Options

• Serene Landscaped Grounds

L a k e s i d e D e c k E v e n t s

P i c t u r e s q u e V i e w s o f L a k e E r i e

• Gazebo • Covered Entrance• Deck Seating

O u t d o o r E v e n t O p t i o n s

AVAILABLE FOR SALE





• 180° Views of Lake Erie • Spectacular Photo Opportunities

HIGHLIGHTS:

• Large Living Room • Bedroom• Living Room

O n e B e d r o o m / 1 B a t h r o o m U p p e r A p a r t m e n t

AVAILABLE FOR SALE





L A K E E R I E

Sunset Inn

©2019 Sherry Bauer Real Estate Services.The information above has been obtainedfrom sources believed reliable. While we donot doubt its accuracy, we have not verifiedit and make no guarantee, warranty orrepresentation about it. It is yourresponsibility to independently confirm itsaccuracy and completeness. Tax MapSource: Erie County Assessor’s Office

TAX INCENTIVES:

AVAILABLE FOR SALE





©2020 Sherry Bauer Real Estate. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. MapSource: ESRI Community Maps Contributors, Province of Ontario, Esri, HERE, Gamin, INCREMENT P, METI/NASA, USGS, EPA, NPS, US Census Bureau.

Federal Opportunity Zones

• Permanent Exclusion – Permanent Exclusion of Any Future Capital Gain Income Realized in Sale or Exchange if Held for 10+ Years

• Basis Step-Up – Basis in Investment Increased by 10% of the Amount of Unrecognized Capital Gain if Held for 5 Years; 15% if Held for 7 Years

• Temporary Tax Deferral

• Learn More at https://www.flagshipopportunityzone.com/

Local Economic Revitalization Tax Assistance (LERTA)

• City of Erie Tax Abatement Program for Improvements Impacting Assessed Value

• 100% Abatement of City & County Tax; 80% Abatement of School Tax

• Learn More at: https://cityof.erie.pa.us/lerta/

FEDERAL OPPORTUNITY ZONE SITE

1990 Lakeside DriveErie, PA

THE CITY OF ERIE

https://www.flagshipopportunityzone.com/background-info

https://www.flagshipopportunityzone.com/

https://cityof.erie.pa.us/lerta/

AREA ATTRACTIONS:

GRAPE ARBOR BED & BREAKFASTBUSINESS OPPORTUNITY

Erie Art Museum

UPMC Park

SHERLOCK’S & PARK PLACE18-20 North Park Row & 508-510 State Street Erie, PA 16501

Junior’s Last LaughComedy Club

The subject property is located along the shoresof Lake Erie in the Erie, Pennsylvania – just east of Erie’s downtown business & entertainment hub, 8 miles from Presque Isle State Park and Waldameer Amusement Park & Water World, 10 miles to Erie International Airport and within close proximity to a rich array of cultural & entertainment venues:

Presque Isle Bay

Subject Property

LAKE ERIE

Erie Insurance Arena

AVAILABLE FOR SALE





Documents

AVAILABLE TURN-KEY SPECIAL EVENT & FOR SALE ......Turn-key special event and banquet facility on the shore of Lake Erie now available for sale. Operating as The Sunset Inn since 1987,