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Property profile & analytics
OFF-MARKET
Estimated value
$2,300,000
Warehouses
2102 Pittsburgh Ave Erie, PA 16502
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US73-2793201
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1980
Construction
FRAME
Total area
88,204 SF
Lot
5.06 ac (220,326 SF)
Zoning code
HI
APN
33-049-194.0-034.06
UPID
US73-2793201
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
$2.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.30M
Owner & transaction history
Wavepoint Freezre Properties LLC · 4 yrs held
Wavepoint Freezre Properties LLC
since 2021
Last sale
$2.4M
6 recorded transactions
Zoning & alternative use
HI · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.6M
+10.8%
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
$2,040,000
ML approach
$2,365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,260,000
Current use
COMMERCIAL (GENERAL)
$3,610,000
Change: +11% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,000,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$2.30M
Range $2.07M – $2.53M · ±10% · vs last sale $2.40M (Aug 23 2021)
Last sale anchor
$2.40M
Aug 23 2021
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
$26 / 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
$52,575
Tax year 2023
Assessed value
$2,032,750
Assessed 2024
Previous assessed
$2,032,750
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$252,900
Assessed improvement
$1,779,850
Land market value
$252,900
Improvement market value
$1,779,850
Total market value
$2,032,750
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
1980
Construction
FRAME
Heating
NONE
Stories
8
Total area
88,204 SF
Lot
5.06 ac (220,326 SF)
Zoning code
HI
APN
33-049-194.0-034.06
UPID
US73-2793201
Jurisdiction
ERIE
Zoning & alternative use
HI · Erie, PA
Zoning HI · permitted uses
HI · 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
$3.3M
COMMERCIAL (GENERAL)
Est. value
$3.6M
INDUSTRIAL (GENERAL)
Est. value
$3.0M
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
1980
Construction
FRAME
Heating
NONE
Stories
8
Lot
5.06 ac
Current owner
From public records · entity-resolved
Wavepoint Freezre Properties LLC
Entity
Mailing address
5501 RTE 98, NORTH EAST, PA 16428
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2021
$2,400,000
Wavepoint Freezre Properties LLC
Saneas LLC
Deed
$3,100,000 · Northwest Bank
Oct 6, 2016
—
Saneas LLC
—
Deed
related
$250,000 · First Nat'l Bk/pa
Jul 20, 2005
—
Eidco INC
Saneas LLC
Grant Deed
$875,000 · Saneas LLC
Apr 29, 2005
$3,632,000
Saneas LLC
Bank One Trust Co NA
Other
$2,658,000 · First National Bank Of Pennsylvania
Jun 17, 1998
—
Bank One Trust Co
Davis,david D & Velma
Quit Claim Deed
related
—
—
—
Saneas LLC
—
Deed Of Trust
related
$250,000 · First Nat'l Bk/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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