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Property profile & analytics
OFF-MARKET
Estimated value
$1,670,000
Warehouses
1928 Wager Rd Erie, PA 16509-4054
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US73-5765835
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1989
Construction
FRAME
Total area
41,838 SF
Lot
7.3 ac (318,119 SF)
Zoning code
IP
APN
33-156-641.1-005.00
UPID
US73-5765835
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
-
Gateway Rehabilitation Center Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.96M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.41M
Blend (final)
Blend
$1.67M
Owner & transaction history
G A & G LLC · 4 yrs held
G A & G LLC
since 2022
Last sale
$1.7M
7 recorded transactions
Zoning & alternative use
IP · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.8M
+19.0%
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
$1,835,000
ML approach
$1,955,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,545,000
Current use
COMMERCIAL (GENERAL)
$1,840,000
Change: +19% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,425,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$1.67M
Range $1.50M – $1.84M · ±10% · vs last sale $1.65M (Jul 14 2022)
Last sale anchor
$1.65M
Jul 14 2022
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
$40 / 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
$34,650
Tax year 2023
Assessed value
$1,339,700
Assessed 2024
Previous assessed
$1,339,700
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$209,600
Assessed improvement
$1,130,100
Land market value
$209,600
Improvement market value
$1,130,100
Total market value
$1,339,700
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1989
Construction
FRAME
Heating
NONE
Stories
3
Total area
41,838 SF
Lot
7.3 ac (318,119 SF)
Zoning code
IP
APN
33-156-641.1-005.00
UPID
US73-5765835
Jurisdiction
ERIE
Zoning & alternative use
IP · Erie, PA
Zoning IP · permitted uses
IP · 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
WAREHOUSE, STORAGE Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.8M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
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
1989
Construction
FRAME
Heating
NONE
Stories
3
Lot
7.3 ac
Current owner
From public records · entity-resolved
G A & G LLC
Entity
Mailing address
100 MOFFETT RUN RD, ALIQUIPPA, PA 15001-9152
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2022
$1,650,000
G A & G LLC
Gateway Rehabilitation Center LLC
Deed
$1,320,000 · Brentwood Bank
Nov 21, 2016
—
Gateway Rehabilitation Center
—
Deed
related
$9,000,000 · Citizens Bk/pa
May 23, 2013
—
Millcreek Township Water Autho
Gateway Rehabilitation Center
Grant Deed
related
—
Nov 8, 2010
—
Gateway Rehabilitation Center
—
Deed Of Trust
related
$2,000,000 · Huntington National Bank
Sep 20, 2010
—
Gateway Rehabilitation Center
—
Deed Of Trust
related
$2,000,000 · Huntington National Bank
Jun 2, 2009
$1,350,000
Gateway Rehabilitation Center
Claridge Realty Holdings LLC
Grant Deed
—
Feb 10, 2004
$1,025,000
Claridge Realty Holdings LLC
Eidco INC
Grant Deed
related
$1,054,725 · Pnc Bank
—
—
Gateway Rehabilitation Center
—
Deed Of Trust
related
$1,027,500 · Huntington National Bank
—
—
Douglas S Waldridge
—
Deed Of Trust
related
$1,515,710 · Pnc Bank
—
—
Gateway Rehabilitation Center
—
Deed Of Trust
related
$9,000,000 · Citizens Bk/pa
—
—
Claridge Realty Holdings LLC
—
Deed Of Trust
related
$1,441,426 · Pnc Bank
—
—
Claridge Realty Holdings LLC
—
Deed Of Trust
related
—
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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