diff --git a/news/3376.bugfix.md b/news/3376.bugfix.md
new file mode 100644
index 0000000000..a863c68800
--- /dev/null
+++ b/news/3376.bugfix.md
@@ -0,0 +1 @@
+Don't validate local file requirements that are not used.
diff --git a/src/pdm/formats/poetry.py b/src/pdm/formats/poetry.py
index 0f7a9cf8e7..cc939e17d1 100644
--- a/src/pdm/formats/poetry.py
+++ b/src/pdm/formats/poetry.py
@@ -80,7 +80,7 @@ def fix_req_path(req: Requirement) -> Requirement:
         for req in req_dict:
             yield from _convert_req(name, req)
     elif isinstance(req_dict, str):
-        pdm_req = fix_req_path(Requirement.from_req_dict(name, _convert_specifier(req_dict), check_installable=False))
+        pdm_req = fix_req_path(Requirement.from_req_dict(name, _convert_specifier(req_dict)))
         yield pdm_req.as_line()
     else:
         assert isinstance(req_dict, dict)
@@ -100,7 +100,7 @@ def fix_req_path(req: Requirement) -> Requirement:
                 "rev",
                 req_dict.pop("tag", req_dict.pop("branch", None)),  # type: ignore[arg-type]
             )
-        pdm_req = fix_req_path(Requirement.from_req_dict(name, req_dict, check_installable=False))
+        pdm_req = fix_req_path(Requirement.from_req_dict(name, req_dict))
         yield pdm_req.as_line()
 
 
diff --git a/src/pdm/models/candidates.py b/src/pdm/models/candidates.py
index e99b32043c..238b917d33 100644
--- a/src/pdm/models/candidates.py
+++ b/src/pdm/models/candidates.py
@@ -146,6 +146,8 @@ def __init__(
         :param link: the file link of the candidate.
         """
         self.req = req
+        if isinstance(req, FileRequirement):
+            req.check_installable()
         self.name = name or self.req.project_name
         self.version = version
         if link is None and not req.is_named:
@@ -277,6 +279,7 @@ def as_lockfile_entry(self, project_root: Path) -> dict[str, Any]:
                 result.update(revision=self.get_revision())
         elif not self.req.is_named:
             if self.req.is_file_or_url and self.req.is_local:
+                self.req._root = project_root
                 result.update(path=self.req.str_path)
             else:
                 result.update(url=self.req.url)
diff --git a/src/pdm/models/requirements.py b/src/pdm/models/requirements.py
index a268212e6d..24dbd709d8 100644
--- a/src/pdm/models/requirements.py
+++ b/src/pdm/models/requirements.py
@@ -145,7 +145,7 @@ def create(cls: type[T], **kwargs: Any) -> T:
         try:
             kwargs["specifier"] = get_specifier(version)
         except InvalidSpecifier as e:
-            raise RequirementError(f'Invalid specifier for {kwargs.get("name")}: {version}: {e}') from None
+            raise RequirementError(f"Invalid specifier for {kwargs.get('name')}: {version}: {e}") from None
         return cls(**{k: v for k, v in kwargs.items() if k in inspect.signature(cls).parameters})
 
     @classmethod
@@ -171,7 +171,7 @@ def from_dist(cls, dist: Distribution) -> Requirement:
         return NamedRequirement.create(name=dist.metadata["Name"], version=f"=={dist.version}")
 
     @classmethod
-    def from_req_dict(cls, name: str, req_dict: RequirementDict, check_installable: bool = True) -> Requirement:
+    def from_req_dict(cls, name: str, req_dict: RequirementDict) -> Requirement:
         if isinstance(req_dict, str):  # Version specifier only.
             return NamedRequirement.create(name=name, version=req_dict)
         for vcs in VCS_SCHEMA:
@@ -180,7 +180,7 @@ def from_req_dict(cls, name: str, req_dict: RequirementDict, check_installable:
                 url = f"{vcs}+{repo}"
                 return VcsRequirement.create(name=name, vcs=vcs, url=url, **req_dict)
         if "path" in req_dict or "url" in req_dict:
-            return FileRequirement.create(name=name, **req_dict, check_installable=check_installable)
+            return FileRequirement.create(name=name, **req_dict)
         return NamedRequirement.create(name=name, **req_dict)
 
     @property
@@ -242,14 +242,11 @@ class FileRequirement(Requirement):
     url: str = ""
     path: Path | None = None
     subdirectory: str | None = None
-    check_installable: bool = True
     _root: Path = dataclasses.field(default_factory=Path.cwd, repr=False)
 
     def __post_init__(self) -> None:
         super().__post_init__()
         self._parse_url()
-        if self.is_local_dir and self.check_installable:
-            self._check_installable()
 
     def _hash_key(self) -> tuple:
         return (*super()._hash_key(), self.get_full_url(), self.editable)
@@ -397,15 +394,20 @@ def _parse_name_from_url(self) -> None:
         if not self.name and not self.is_vcs:
             self.name = self.guess_name()
 
-    def _check_installable(self) -> None:
-        assert self.path
-        if not self.path.exists():
-            return
-        if not (self.path.joinpath("setup.py").exists() or self.path.joinpath("pyproject.toml").exists()):
-            raise RequirementError(f"The local path '{self.path}' is not installable.")
-        result = Setup.from_directory(self.path.absolute())
-        if result.name:
-            self.name = result.name
+    def check_installable(self) -> None:
+        if path := self.absolute_path:
+            if not path.exists():
+                raise RequirementError(f"The local path '{self.path}' does not exist.")
+            if path.is_dir():
+                if not path.joinpath("setup.py").exists() and not path.joinpath("pyproject.toml").exists():
+                    raise RequirementError(f"The local path '{self.path}' is not installable.")
+                result = Setup.from_directory(path)
+                if result.name:
+                    self.name = result.name
+            elif self.editable:
+                raise RequirementError("Local file requirement must not be editable.")
+        elif self.editable and not self.is_vcs:
+            raise RequirementError("Non-VCS remote file requirement must not be editable.")
 
 
 @dataclasses.dataclass(eq=False)
@@ -521,8 +523,7 @@ def parse_requirement(line: str, editable: bool = False) -> Requirement:
             r.path = Path(get_relative_path(r.url) or "")
 
     if editable:
-        if r.is_vcs or (r.is_file_or_url and r.is_local_dir):  # type: ignore[attr-defined]
-            assert isinstance(r, FileRequirement)
+        if isinstance(r, FileRequirement) and (r.is_vcs or not r.url or r.url.startswith("file://")):
             r.editable = True
         else:
             raise RequirementError(f"{line}: Editable requirement is only supported for VCS link or local directory.")
diff --git a/tests/models/test_candidates.py b/tests/models/test_candidates.py
index e9c0655168..40f6cf5955 100644
--- a/tests/models/test_candidates.py
+++ b/tests/models/test_candidates.py
@@ -5,6 +5,7 @@
 import pytest
 from unearth import Link
 
+from pdm.exceptions import RequirementError
 from pdm.models.candidates import Candidate
 from pdm.models.requirements import Requirement, parse_requirement
 from pdm.models.specifiers import PySpecSet
@@ -313,6 +314,5 @@ def test_parse_metadata_with_dynamic_fields(project, local_finder):
 
 def test_get_metadata_for_non_existing_path(project):
     req = parse_requirement("file:///${PROJECT_ROOT}/non-existing-path")
-    candidate = Candidate(req)
-    with pytest.raises(FileNotFoundError, match="No such file or directory"):
-        candidate.prepare(project.environment).metadata
+    with pytest.raises(RequirementError, match="The local path '.+' does not exist"):
+        Candidate(req)
diff --git a/tests/models/test_requirements.py b/tests/models/test_requirements.py
index 3190c2cf92..5499b2d339 100644
--- a/tests/models/test_requirements.py
+++ b/tests/models/test_requirements.py
@@ -83,6 +83,8 @@ def filter_requirements_to_lines(
 @pytest.mark.parametrize("req, result", REQUIREMENTS)
 def test_convert_req_dict_to_req_line(req, result):
     r = parse_requirement(req)
+    if hasattr(r, "check_installable"):
+        r.check_installable()
     result = result or req
     assert r.as_line() == result