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Property profile & analytics
OFF-MARKET
Estimated value
$7,880,000
Manufacturing properties
1664 Greengarden Rd, Erie, PA 16501-1560
Entity Owned
19-yr Hold
Free & Clear
Property ID
US73-2426734
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1960
Construction
STEEL FRAME
Total area
176,542 SF
Lot
23.85 ac (1,038,906 SF)
Zoning code
M2
APN
16-031-035.0-102.00
UPID
US73-2426734
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.13M
Blend (final)
Blend
$7.88M
Owner & transaction history
Transportation Inv Group · 19 yrs held
Transportation Inv Group
since 2007
3 recorded transactions
Zoning & alternative use
M2 · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$12.3M
+104.2%
Commercial (general)
$7.8M
+29.3%
Warehouse, storage
$6.5M
+8.6%
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
INDUSTRIAL (GENERAL)
$6,005,000
Current use
AUTO REPAIR, GARAGE
$12,260,000
Change: +104% · Conversion: Easy
COMMERCIAL (GENERAL)
$7,760,000
Change: +29% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,520,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$7.88M
Range $7.09M – $8.67M · ±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
$45 / 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
$212,659
Tax year 2023
Assessed value
$5,590,000
Assessed 2024
Previous assessed
$5,590,000
+0.0% YoY
Effective rate
3.80%
On assessed value
Assessed land
$715,500
Assessed improvement
$4,874,500
Land market value
$715,500
Improvement market value
$4,874,500
Total market value
$5,590,000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1960
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Stories
7
Total area
176,542 SF
Lot
23.85 ac (1,038,906 SF)
Zoning code
M2
APN
16-031-035.0-102.00
UPID
US73-2426734
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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$6.0M
AUTO REPAIR, GARAGE
Est. value
$12.3M
COMMERCIAL (GENERAL)
Est. value
$7.8M
WAREHOUSE, STORAGE
Est. value
$6.5M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1960
Construction
STEEL FRAME
Heating
NONE
Stories
7
Buildings
2
Lot
23.85 ac
Current owner
From public records · entity-resolved
Transportation Inv Group
Entity
Free & Clear · 19 yrs held
Mailing address
7005 PINEGATE RD, FAIRVIEW, PA 16415-1530
Ownership since
2007
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
May 30, 2007
—
Transportation Inv Group
Transportation Inv Group
Quit Claim Deed
related
—
Nov 13, 2001
—
Transportation Investment Grou
Eidco INC
Grant Deed
related
—
—
—
Transportation Investment Grou
—
Deed Of Trust
related
$7,550,000 · 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.
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