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Property profile & analytics
OFF-MARKET
Estimated value
$1,480,000
Office buildings
1250 Tower Ln, Erie, PA 16505-2531
Entity Owned
24-yr Hold
~
Est. High Equity
Property ID
US73-0984292
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1981
Total area
25,011 SF
Lot
1.8 ac (78,539 SF)
Zoning code
RLB
APN
17-041-039.0-101.00
UPID
US73-0984292
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
HUB International Insurance Agency
-
Penn Attorneys, A Division of First American Title Title Company Escrow Service
-
Bishop & Company Investment Management Financial Advisor
-
Parker Philips Consultant
-
HUB International | Hubbard-Bert Inc. Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.93M
Blend (final)
Blend
$1.48M
Owner & transaction history
Tower Lane Realty Co · 24 yrs held
Tower Lane Realty Co
since 2002
1 recorded transaction
Zoning & alternative use
RLB · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Erie submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Erie submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,060,000
Current use
RESTAURANT
$2,055,000
Change: 0% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,040,000
Change: -1% · Conversion: Easy
RETAIL STORES
$1,875,000
Change: -9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,735,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.48M
Range $1.33M – $1.63M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$59 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$55,162
Tax year 2023
Assessed value
$1,450,000
Assessed 2024
Previous assessed
$1,450,000
+0.0% YoY
Effective rate
3.80%
On assessed value
Assessed land
$353,400
Assessed improvement
$1,096,600
Land market value
$353,400
Improvement market value
$1,096,600
Total market value
$1,450,000
Applied tax rate
17.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1981
Heating
NONE
Stories
3
Total area
25,011 SF
Lot
1.8 ac (78,539 SF)
Zoning code
RLB
APN
17-041-039.0-101.00
UPID
US73-0984292
Jurisdiction
ERIE
Zoning & alternative use
RLB · Erie, PA
Zoning RLB · permitted uses
RLB · Erie, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Erie. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.1M
RESTAURANT
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
RETAIL STORES
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.7M
OFFICE BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Heating
NONE
Stories
3
Lot
1.8 ac
Current owner
From public records · entity-resolved
Tower Lane Realty Co
Entity
Mailing address
1250 TOWER LN, ERIE, PA 16505-2531
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 8, 2002
—
Tower Lane Realty Co
Erie Co Industrial Dev Auth
Grant Deed
$708,000 · First National Bank Pa
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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