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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Warehouses
1420 Cherry St Lake City, PA 16423-1208
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US73-1427318
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1970
Construction
FRAME
Total area
48,884 SF
Lot
22.44 ac (977,486 SF)
Zoning code
M1
APN
28-005-006.0-001.01
UPID
US73-1427318
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
-
Lake City Industries Metal Fabrication Plant Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.02M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.13M
Blend (final)
Blend
$965k
Owner & transaction history
Lakecity Properties LLC · 2 yrs held
Lakecity Properties LLC
since 2023
Last sale
$850,000
5 recorded transactions
Zoning & alternative use
M1 · Lake City, 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 Lake City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake City 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
$910,000
ML approach
$1,020,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,500,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±10% · vs last sale $850k (Sep 12 2023)
Last sale anchor
$850k
Sep 12 2023
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
$20 / 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
$16,587
Tax year 2023
Assessed value
$566,100
Assessed 2024
Previous assessed
$566,100
+0.0% YoY
Effective rate
2.93%
On assessed value
Assessed land
$121,300
Assessed improvement
$444,800
Land market value
$121,300
Improvement market value
$444,800
Total market value
$566,100
Applied tax rate
28.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1970
Construction
FRAME
Heating
NONE
Stories
2
Total area
48,884 SF
Lot
22.44 ac (977,486 SF)
Zoning code
M1
APN
28-005-006.0-001.01
UPID
US73-1427318
Jurisdiction
ERIE
Zoning & alternative use
M1 · Lake City, PA
Zoning M1 · permitted uses
M1 · Lake City, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$1.5M
INDUSTRIAL (GENERAL)
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
1970
Construction
FRAME
Heating
NONE
Stories
2
Lot
22.44 ac
Current owner
From public records · entity-resolved
Lakecity Properties LLC
Entity
Mailing address
1420 CHERRY ST, LAKE CITY, PA 16423-1208
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 30, 2025
—
Lakecity Properties LLC
—
Deed
related
$143,000 · First Keystone Community Bank
Oct 27, 2023
—
Lakecity Properties LLC
—
Deed
related
$250,000 · First Keystone Community Bank
Sep 12, 2023
$850,000
Lakecity Properties LLC
Lake City Industries INC
Special Warranty Deed
$791,000 · First Keystone Community Bank
—
—
Lake City Industries INC
—
Deed Of Trust
related
$175,000 · Northwest Svgs Bk
—
—
Lake City Industries INC
—
Deed Of Trust
related
$216,347 · Northwest Savings 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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