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Property profile & analytics
FOR SALE
Industrial properties
1635 W 12Th St, Erie, PA 16505
Entity Owned
3-yr Hold
Free & Clear
Property ID
US73-1995999
For Sale
$1,500,000
1635 W 12Th St, Erie, PA 16505
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
HEAVY INDUSTRIAL
Year built
1943
Construction
WOOD
Total area
293,944 SF
Lot
11.78 ac (513,093 SF)
Zoning code
M2
APN
16-031-033.0-107.00
UPID
US73-1995999
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$815k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.23M
Owner & transaction history
Fti Realty LLC · 3 yrs held
Fti Realty LLC
since 2023
Last sale
$1.4M
3 recorded transactions
Zoning & alternative use
M2 · 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
$1,350,000
ML approach
$815,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.23M
Range $1.10M – $1.35M · ±10% · vs last sale $1.37M (Mar 31 2023)
Last sale anchor
$1.37M
Mar 31 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
$4 / 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
$17,880
Tax year 2023
Assessed value
$470,000
Assessed 2024
Previous assessed
$470,000
+0.0% YoY
Effective rate
3.80%
On assessed value
Assessed land
$450,000
Assessed improvement
$20,000
Land market value
$450,000
Improvement market value
$20,000
Total market value
$470,000
Applied tax rate
16.0000
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
Industrial properties
Use group
HEAVY INDUSTRIAL
Status
For Sale
Year built
1943
Construction
WOOD
Heating
NONE
Stories
11
Total area
293,944 SF
Lot
11.78 ac (513,093 SF)
Zoning code
M2
APN
16-031-033.0-107.00
UPID
US73-1995999
Jurisdiction
ERIE
Zoning & alternative use
M2 · Erie, PA
Zoning M2 · permitted uses
M2 · 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
1943
Construction
WOOD
Heating
NONE
Stories
11
Lot
11.78 ac
Current owner
From public records · entity-resolved
Fti Realty LLC
Entity
Free & Clear · 3 yrs held
Mailing address
921 GREENGARDEN RD, ERIE, PA 16501-1525
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2023
$1,370,000
Fti Realty LLC
Lorde Erie LLC
Deed
—
Feb 29, 2016
$375,000
Lorde Erie LLC
Greater Erie Indl Dev Corp
Grant Deed
—
Jun 28, 2013
—
Greater Erie Industrial Development
Lord Corp
Deed
$1,833,000 · The Commonwealth Finance Authority
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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