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Property profile & analytics
OFF-MARKET
Estimated value
$775,000
Investment properties
211 Preston Ave, Erie, PA 16511-1488
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US73-5790532
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1973
Construction
WOOD
Total area
10,368 SF
Lot
0.17 ac (7,353 SF)
Zoning code
B1
APN
27-002-006.0-002.00
UPID
US73-5790532
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
-
Mark Hedlund Investments Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$771k
Blend (final)
Blend
$775k
Owner & transaction history
Ollinger Properties · 22 yrs held
Ollinger Properties
since 2004
4 recorded transactions
Zoning & alternative use
B1 · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$855,000
+87.2%
Restaurant
$855,000
+87.1%
Retail stores
$850,000
+86.7%
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
OFFICE BUILDING
$855,000
Change: +87% · Conversion: Easy
RESTAURANT
$855,000
Change: +87% · Conversion: Difficult
RETAIL STORES
$850,000
Change: +87% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$845,000
Change: +86% · Conversion: Moderate
AUTO REPAIR, GARAGE
$720,000
Change: +58% · Conversion: Difficult
Blend value · Realmo final
$775k
Range $698k – $853k · ±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
$75 / 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
$6,500
Tax year 2023
Assessed value
$246,700
Assessed 2024
Previous assessed
$246,700
+0.0% YoY
Effective rate
2.63%
On assessed value
Assessed land
$29,300
Assessed improvement
$217,400
Land market value
$29,300
Improvement market value
$217,400
Total market value
$246,700
Applied tax rate
27.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1973
Construction
WOOD
Heating
NONE
Stories
3
Total area
10,368 SF
Lot
0.17 ac (7,353 SF)
Zoning code
B1
APN
27-002-006.0-002.00
UPID
US73-5790532
Jurisdiction
ERIE
Zoning & alternative use
B1 · Erie, PA
Zoning B1 · permitted uses
B1 · 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
OFFICE BUILDING
Est. value
$855,000
RESTAURANT
Est. value
$855,000
RETAIL STORES
Est. value
$850,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$845,000
AUTO REPAIR, GARAGE
Est. value
$720,000
OFFICE BUILDING
RESTAURANT
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1973
Construction
WOOD
Heating
NONE
Stories
3
Lot
0.17 ac
Current owner
From public records · entity-resolved
Ollinger Properties
Entity
Mailing address
4855 E LK RD, ERIE, PA 16511-1477
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2018
—
Ollinger Properties
—
Deed
related
$250,000 · Eriebank
Apr 1, 2004
—
Ollinger Properties
Trocki,norbert J & Mildred A
Grant Deed
$267,750 · National Bank Of North East
—
—
Ollinger Properties
—
Deed Of Trust
related
$249,900 · Eriebank
—
—
Ollinger Properties
—
Deed Of Trust
related
$250,000 · Eriebank
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.
Try Rey
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