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Property profile & analytics
FOR LEASE
Strip malls
2147 W 12Th St Erie, PA 16505
Trust Owned
9-yr Hold
Free & Clear
Property ID
US73-2574680
For Lease
1 / 5
$995,000
2147 W 12Th St, Erie, PA 16505
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1967
Construction
FRAME
Total area
92,711 SF
Lot
8.39 ac (365,294 SF)
Zoning code
C2
APN
16-031-018.0-107.00
UPID
US73-2574680
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
-
Iron Empire Clothing Clothing Store Screen Printer
-
Hertel and Brown Physical and Aquatic Therapy Physician
-
Erie Fitness NOW Gym & Fitness Center
-
Level Red Boxing Gym & Fitness Center
-
BAYADA Adult Nursing Home Health Care Service Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$760k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.23M
Blend (final)
Blend
$995k
Owner & transaction history
Levin,adam K Trust · 9 yrs held
Levin,adam K Trust
since 2017
1 recorded transaction
Zoning & alternative use
C2 · 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
$760,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$995k
Range $896k – $1.09M · ±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
$11 / 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
$89,629
Tax year 2023
Assessed value
$2,356,000
Assessed 2024
Previous assessed
$2,356,000
+0.0% YoY
Effective rate
3.80%
On assessed value
Assessed land
$587,100
Assessed improvement
$1,768,900
Land market value
$587,100
Improvement market value
$1,768,900
Total market value
$2,356,000
Applied tax rate
16.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1967
Construction
FRAME
Heating
NONE
Stories
8
Total area
92,711 SF
Lot
8.39 ac (365,294 SF)
Zoning code
C2
APN
16-031-018.0-107.00
UPID
US73-2574680
Jurisdiction
ERIE
Zoning & alternative use
C2 · Erie, PA
Zoning C2 · permitted uses
C2 · 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.
Building & site characteristics
From public records
Year built
1967
Construction
FRAME
Heating
NONE
Stories
8
Lot
8.39 ac
Current owner
From public records · entity-resolved
Levin,adam K Trust
Trust
Free & Clear · 9 yrs held
Mailing address
2540 VLG CMN DR, ERIE, PA 16506-7202
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2017
$278,303
Levin,adam K Trust
Levin Janice H
Grant 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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