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Property profile & analytics
OFF-MARKET
Estimated value
$4,690,000
Strip malls
2088 Interchange Rd Erie, PA 16565-5110
Entity Owned
9-yr Hold
Free & Clear
Property ID
US73-4015973
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1999
Construction
FRAME
Total area
227,718 SF
Lot
47.43 ac (2,066,007 SF)
Zoning code
DB
APN
33-142-667.0-047.00
UPID
US73-4015973
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
-
Rally House Millcreek Pavilion (Bike/Boat/Book/etc) Store
-
Five Below (Bike/Boat/Book/etc) Store
-
DSW Designer Shoe Warehouse Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
HomeGoods Department Store
-
Erie County Public Library - Millcreek Public Library
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.69M
Owner & transaction history
Pa-eastway INC · 9 yrs held
Pa-eastway INC
since 2017
2 recorded transactions
Zoning & alternative use
DB · 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
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
NEIGHBORHOOD: SHOPPING CENTER
$4,905,000
Current use
Blend value · Realmo final
$4.69M
Range $4.22M – $5.16M · ±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
$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
$553,825
Tax year 2023
Assessed value
$18,993,100
Assessed 2024
Previous assessed
$21,412,900
-11.3% YoY
Effective rate
2.92%
On assessed value
Assessed land
$4,781,600
Assessed improvement
$14,211,500
Land market value
$4,781,600
Improvement market value
$14,211,500
Total market value
$18,993,100
Applied tax rate
33.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1999
Construction
FRAME
Heating
NONE
Buildings
4
Stories
2
Total area
227,718 SF
Lot
47.43 ac (2,066,007 SF)
Zoning code
DB
APN
33-142-667.0-047.00
UPID
US73-4015973
Jurisdiction
ERIE
Zoning & alternative use
DB · Erie, PAZoning DB · permitted uses
DB · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$4.9M
NEIGHBORHOOD: SHOPPING CENTER 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
1999
Construction
FRAME
Heating
NONE
Stories
2
Buildings
4
Lot
47.43 ac
Current owner
From public records · entity-resolved
Pa-eastway INC
Entity
Free & Clear · 9 yrs held
Mailing address
PO BOX 586, ANNANDALE, NJ 08801-0586
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 22, 2025
—
Tp Heritage Inn Of Erie LLC
—
Deed
related
$132,800 · Wells Fargo Bank NA
Apr 18, 2017
—
Pa-eastway INC
Pa-eastway INC
Quit Claim Deed
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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