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Property profile & analytics
OFF-MARKET
Estimated value
$3,780,000
Assisted living facilities
1521 54th St Erie, PA 16509-2620
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US73-2155282
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1969
Total area
46,360 SF
Lot
3.21 ac (139,828 SF)
Zoning code
AR
APN
33-143-600.0-007.01
UPID
US73-2155282
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
-
Greenfield Healthcare and Rehab Nursing Home
-
Presents For Patients Nursing Home
-
Sharon Chilcott Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.76M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.78M
Owner & transaction history
Western Reserve Snf Operating Co Ll · 1 yrs held
Western Reserve Snf Operating Co Ll
since 2025
4 recorded transactions
Zoning & alternative use
AR · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.8M
+295.3%
Restaurant
$4.1M
+181.0%
Auto repair, garage
$3.4M
+131.5%
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
$3,810,000
ML approach
$3,755,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,785,000
Change: +295% · Conversion: Difficult
RESTAURANT
$4,115,000
Change: +181% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,390,000
Change: +132% · Conversion: Difficult
RETAIL STORES
$3,345,000
Change: +128% · Conversion: Difficult
OFFICE BUILDING
$2,940,000
Change: +101% · Conversion: Difficult
MEDICAL BUILDING
$2,915,000
Change: +99% · Conversion: Difficult
Blend value · Realmo final
$3.78M
Range $3.40M – $4.16M · ±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
$82 / 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
$71,025
Tax year 2023
Assessed value
$2,746,100
Assessed 2024
Previous assessed
$2,746,100
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$419,500
Assessed improvement
$2,326,600
Land market value
$419,500
Improvement market value
$2,326,600
Total market value
$2,746,100
Applied tax rate
33.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1969
Heating
NONE
Stories
3
Total area
46,360 SF
Lot
3.21 ac (139,828 SF)
Zoning code
AR
APN
33-143-600.0-007.01
UPID
US73-2155282
Jurisdiction
ERIE
Zoning & alternative use
AR · Erie, PAZoning AR · permitted uses
AR · Erie, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$5.8M
RESTAURANT
Est. value
$4.1M
AUTO REPAIR, GARAGE
Est. value
$3.4M
RETAIL STORES
Est. value
$3.3M
OFFICE BUILDING
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.9M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
MEDICAL BUILDING
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
1969
Heating
NONE
Stories
3
Lot
3.21 ac
Current owner
From public records · entity-resolved
Western Reserve Snf Operating Co Ll
Entity
Mailing address
29 POINTE CIR, JACKSON, NJ 08527-1638
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 20, 2025
—
Western Reserve Snf Operating Co Ll
Hmtl LLC
Deed
—
Apr 11, 2023
$3,872,000
Western Reserve Propco Company LLC
Gph Erie Western Reserve LP
Special Warranty Deed
$7,059,528 · Fortis Private Bank
Oct 10, 2011
—
Gph Erie Western Reserve LP
—
Deed Of Trust
related
$2,075,000,000 · Citibank NA
Apr 13, 2006
$2,580,355
Gph Erie Western Reserve
Beverly Ents-pennsylvania INC
Deed Of Trust
$1,200,000,000 · Column Financial INC
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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