Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Warehouses
2200 Colonial Ave Erie, PA 16506-1898
Entity Owned
Free & Clear
Property ID
US73-1084495
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1989
Construction
WOOD
Total area
10,040 SF
Lot
2.36 ac (102,845 SF)
Zoning code
LI
APN
33-044-229.0-041.05
UPID
US73-1084495
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
-
King Precision Solutions Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$547k
Blend (final)
Blend
$590k
Owner & transaction history
Mpf II Realty C
Mpf II Realty C
since 2025
Last sale
$440,000
4 recorded transactions
Zoning & alternative use
LI · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$825,000
+122.8%
Restaurant
$825,000
+122.7%
Retail stores
$825,000
+122.1%
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
$630,000
ML approach
$595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$370,000
Current use
OFFICE BUILDING
$825,000
Change: +123% · Conversion: Difficult
RESTAURANT
$825,000
Change: +123% · Conversion: Difficult
RETAIL STORES
$825,000
Change: +122% · Conversion: Moderate
AUTO REPAIR, GARAGE
$695,000
Change: +88% · Conversion: Easy
COMMERCIAL (GENERAL)
$440,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±10% · vs last sale $440k (Dec 23 2025)
Last sale anchor
$440k
Dec 23 2025
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
$59 / 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
$11,652
Tax year 2023
Assessed value
$450,500
Assessed 2024
Previous assessed
$450,500
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$118,100
Assessed improvement
$332,400
Land market value
$118,100
Improvement market value
$332,400
Total market value
$450,500
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
1989
Construction
WOOD
Heating
NONE
Buildings
2
Stories
2
Total area
10,040 SF
Lot
2.36 ac (102,845 SF)
Zoning code
LI
APN
33-044-229.0-041.05
UPID
US73-1084495
Jurisdiction
ERIE
Zoning & alternative use
LI · Erie, PA
Zoning LI · permitted uses
LI · 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
$370,000
OFFICE BUILDING
Est. value
$825,000
RESTAURANT
Est. value
$825,000
RETAIL STORES
Est. value
$825,000
AUTO REPAIR, GARAGE
Est. value
$695,000
COMMERCIAL (GENERAL)
Est. value
$440,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (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
1989
Construction
WOOD
Heating
NONE
Stories
2
Buildings
2
Lot
2.36 ac
Current owner
From public records · entity-resolved
Mpf II Realty C
Entity
Free & Clear · 0 yrs held
Mailing address
3545 W 12TH ST UNIT #5, ERIE, PA 16505-3666
Ownership since
2025
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
Dec 23, 2025
$440,000
Mpf II Realty C
Erie Shores Properties LLC
Deed
—
Aug 3, 2022
$565,000
Erie Shores Properties LLC
Tge Development LLC
Deed
$452,000 · Marquette Savings Bank
Oct 11, 2013
—
Tge Development LLC
Thomas E Terella
Intrafamily Transfer
related
—
Jul 15, 2004
$155,000
Tge Development LLC
Walters,eric V & Linda K
Grant Deed
$100,000 · Northwest 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2200 Colonial Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
