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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Retail space
2178 38th St Erie, PA 16508-1926
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US73-5738952
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1962
Construction
WOOD
Total area
3,392 SF
Lot
0.94 ac (40,881 SF)
Zoning code
C1
APN
19-061-065.0-118.00
UPID
US73-5738952
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
$565k
CAP Approach
CAP
$590k
Comparable Approach
Comparable
$418k
Blend (final)
Blend
$575k
Owner & transaction history
Alta Re Pa Erie LLC · 5 yrs held
Alta Re Pa Erie LLC
since 2021
Last sale
$733,733
6 recorded transactions
Zoning & alternative use
C1 · 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
$625,000
ML approach
$565,000
CAP Approach
CAP Return
Estimation
6%
$640,000
6.5%
$590,000
7%
$545,000
Blend value · Realmo final
$575k
Range $518k – $633k · ±10% · vs last sale $734k (Mar 23 2021)
Last sale anchor
$734k
Mar 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
$170 / 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
$22,721
Tax year 2023
Assessed value
$597,259
Assessed 2024
Previous assessed
$597,259
+0.0% YoY
Effective rate
3.80%
On assessed value
Assessed land
$153,300
Assessed improvement
$443,959
Land market value
$153,300
Improvement market value
$443,959
Total market value
$597,259
Applied tax rate
19.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1962
Construction
WOOD
Heating
NONE
Stories
2
Total area
3,392 SF
Lot
0.94 ac (40,881 SF)
Zoning code
C1
APN
19-061-065.0-118.00
UPID
US73-5738952
Jurisdiction
ERIE
Zoning & alternative use
C1 · Erie, PA
Zoning C1 · permitted uses
C1 · 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
1962
Construction
WOOD
Heating
NONE
Stories
2
Lot
0.94 ac
Current owner
From public records · entity-resolved
Alta Re Pa Erie LLC
Entity
Mailing address
121 NE 34TH ST UNIT #2808, MIAMI, FL 33137-3887
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
Mar 23, 2021
$733,733
Alta Re Pa Erie LLC
Silvermetz LLC
Special Warranty Deed
—
Oct 22, 2020
$565,000
Silvermetz LLC
Grant E Miller
Special Warranty Deed
—
Feb 4, 2004
—
Grant E Miller
—
Trustees Deed
related
$100,000 · First National Bank Pa
—
—
Grant E Miller
—
Deed Of Trust
related
$94,000 · First National Bank Pa
—
—
Grant E Miller
—
Deed Of Trust
related
$172,500 · First National Bank Pa
—
—
Grant E Miller
—
Deed Of Trust
related
$152,000 · Marquette Savings Bank
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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