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Property profile & analytics
OFF-MARKET
Estimated value
$1,865,000
Manufacturing properties
205 12th St, Erie, PA 16534-0002
Entity Owned
5-yr Hold
Free & Clear
Property ID
US73-2679976
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1970
Construction
FRAME
Total area
88,623 SF
Lot
5 ac (217,800 SF)
Zoning code
M2
APN
16-030-013.0-200.00
UPID
US73-2679976
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
-
Erie Times-News Publishing House Newspaper & Magazine
-
CyberInk Marketing & Advertising Advertising Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.77M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$1.87M
Owner & transaction history
LP Real Estate LLC · 5 yrs held
LP Real Estate LLC
since 2020
Last sale
$2.0M
7 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
$1,880,000
ML approach
$1,770,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,015,000
Current use
Blend value · Realmo final
$1.87M
Range $1.68M – $2.05M · ±10% · vs last sale $2.00M (Jul 17 2020)
Last sale anchor
$2.00M
Jul 17 2020
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
$21 / 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
$79,437
Tax year 2023
Assessed value
$2,088,100
Assessed 2024
Previous assessed
$2,088,100
+0.0% YoY
Effective rate
3.80%
On assessed value
Assessed land
$250,000
Assessed improvement
$1,838,100
Land market value
$250,000
Improvement market value
$1,838,100
Total market value
$2,088,100
Applied tax rate
16.0000
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1970
Construction
FRAME
Heating
NONE
Stories
13
Total area
88,623 SF
Lot
5 ac (217,800 SF)
Zoning code
M2
APN
16-030-013.0-200.00
UPID
US73-2679976
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
$3.0M
INDUSTRIAL (GENERAL) Current
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
13
Lot
5 ac
Current owner
From public records · entity-resolved
LP Real Estate LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1406 PEACH ST, ERIE, PA 16501-1879
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2020
—
LP Real Estate LLC
Gatehouse Media Pennsylvania H
Correction Deed
related
—
Jul 7, 2020
—
LP Real Estate LLC
—
Deed
related
$845,000 · Miscellaneous Govt Agcy
Jun 23, 2020
—
LP Real Estate LLC
—
Deed
related
$850,000 · Citizens Bk NA
Jun 4, 2020
$2,000,000
LP Real Estate LLC
Gatehouse Media
Grant Deed
—
Jan 13, 2016
$2,100,000
Gatehouse Media Pennsylvania H
Times Publishing Co
Grant Deed
—
—
—
LP Real Estate LLC
—
Deed Of Trust
related
$850,000 · Citizens Bk NA
—
—
LP Real Estate LLC
—
Deed Of Trust
related
$845,000 · Miscellaneous Govt Agcy
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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