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Property profile & analytics
OFF-MARKET
Estimated value
$695,000
Retail space
1404 12th St Erie, PA 16503-1719
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US73-1752747
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1970
Total area
18,120 SF
Lot
0.69 ac (30,000 SF)
Zoning code
M1
APN
15-021-004.0-101.00
UPID
US73-1752747
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
-
Universal Metal Systems Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$764k
Blend (final)
Blend
$695k
Owner & transaction history
Peter Alex III · 10 yrs held
Peter Alex III
since 2016
7 recorded transactions
Zoning & alternative use
M1 · 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
Blend value · Realmo final
$695k
Range $626k – $765k · ±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
$38 / 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
$12,623
Tax year 2023
Assessed value
$331,800
Assessed 2024
Previous assessed
$331,800
+0.0% YoY
Effective rate
3.80%
On assessed value
Assessed land
$75,000
Assessed improvement
$256,800
Land market value
$75,000
Improvement market value
$256,800
Total market value
$331,800
Applied tax rate
15.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1970
Heating
NONE
Stories
2
Total area
18,120 SF
Lot
0.69 ac (30,000 SF)
Zoning code
M1
APN
15-021-004.0-101.00
UPID
US73-1752747
Jurisdiction
ERIE
Zoning & alternative use
M1 · Erie, PA
Zoning M1 · permitted uses
M1 · 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.
Building & site characteristics
From public records
Year built
1970
Heating
NONE
Stories
2
Lot
0.69 ac
Current owner
From public records · entity-resolved
Peter Alex III
Individual
Mailing address
1644 E 12TH ST, ERIE, PA 16511-1722
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2018
—
Alex Poter III
—
Deed
related
$4,000,000 · Northwest Bank
Mar 2, 2016
$260,000
Peter Alex III
Carpetowne INC
Warranty Deed
—
—
—
Carpetowne INC
—
Deed Of Trust
related
$70,000 · Marquette Svgs Bk
—
—
Carpetowne INC
—
Deed Of Trust
related
$90,905 · Marquette Svgs Bk
—
—
Carpetown INC
—
Deed Of Trust
related
$100,000 · Pnc Bank
—
—
Peter Alex III
—
Deed Of Trust
related
$400,000 · Northwest Bk
—
—
Carpetowne INC
—
Deed Of Trust
related
$25,000 · Pnc Bank
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.
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