Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    223 25th W 2nd St Erie, PA 16507
    Back to Search
    Property profile & analytics

    223 25th W 2nd St, Erie, PA 16507

    View on Map
    • Investment properties
    • 4,656 SF
    • 0.12 lot acres
    Off-Market
    Last Sale Mar 23, 2025
    $252,500
    Property ID
    US73-5799657
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 223 25th W 2nd St

    Year built
    1852
    Construction
    WOOD
    Lot size
    0.12 lot acres
    Zone code
    WR
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    17-040-009.0-211.00
    APU
    17040009021100

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 4, 2021 $185,000 Winning Birds LLC Gindys Enterprises LLC Special Warranty Deed $120k · Consturctive Loans LLC
    Aug 20, 2018 — Gindys Ents LLC Gindlesperger,edward W II & Beverly A Quit Claim Deed · related —
    Sep 5, 2012 — Edward W Gindlesperger II Gindlesperger,edward W II & Beverly A Quit Claim Deed · related —
    Sep 16, 2010 $149,900 Edward W Gindlesperger II Giasson,susan B & Jean-claude Grant Deed —
    May 6, 2010 — Susan B Giasson Faulkner,scott E Quit Claim Deed · related —
    Feb 26, 2007 — Susan B Fiasson Giasson,susan B Quit Claim Deed · related —
    Jul 3, 2003 $27,500 Susan B Giasson Taylor,brent N & Kathleen C Grant Deed —
    — — Edward W Gindlesperger II — Deed Of Trust · related $125k · Northwest Savings Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.0924
    Latitude
    42.1313
    CBSA code
    21500
    CBSA name
    ERIE, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,277
    $21,100
    $117,600
    $138,700
    -
    $21,100
    $117,600
    $138,700

    Comparable in this City

    • Value Estimation by Request
      5,672 SF

      227 6th St

      OFFICE/RESIDENTIAL (MIXED USE)
      227 6th St, Erie, PA 16507-1523
      View Details
    • Value Estimation
      $505,000
      15,918 SF

      130 4th St

      OFFICE/RESIDENTIAL (MIXED USE)
      130 4th St, Erie, PA 16507-1508
      View Details
    • Value Estimation by Request
      3,780 SF

      802 4th E 6th St

      OFFICE/RESIDENTIAL (MIXED USE)
      802 4th E 6th St, Erie, PA 16507
      View Details
    • Value Estimation by Request
      5,430 SF

      1001 5th St

      OFFICE/RESIDENTIAL (MIXED USE)
      1001 5th St, Erie, PA 16507-2605
      View Details
    • Value Estimation
      $545,000
      8,739 SF

      652 6th St

      OFFICE/RESIDENTIAL (MIXED USE)
      652 6th St, Erie, PA 16507-1173
      View Details
    • Value Estimation by Request
      2,128 SF

      318 6th St

      OFFICE/RESIDENTIAL (MIXED USE)
      318 6th St, Erie, PA 16507-1268
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Erie Bayfront Development Opportunity

      Four parcels near Erie's bayfront, suitable for development.
      Sassafras St, Erie, PA 16507
      View Details
    • $120,000
      1,744 SF

      Erie Investment Property: Two Units

      Two-unit investment property in Erie, PA, with off-street parking.
      730 E 5Th St, Erie, PA 16507
      View Details
    • $6,511,000
      44,834 SF

      Erie Medical Office Investment

      Prime Erie location, strong tenant.
      137 2Nd St, Erie, PA 16507
      View Details
    • $155,000
      1,628 SF

      Updated Income Property Near Bayfront

      Well-maintained two-unit property with rental history near Erie's bayfront.
      125 Parade St, Erie, PA 16507
      View Details
    • $214,900
      0.46 Acres

      Erie, PA Development Site

      Development site near UPMC campus with access from two streets.
      213 E 3Rd St, Erie, PA 16507
      View Details
    • $147,000
      1,496 SF

      Erie Income Producing Duplex

      Income-generating duplex, currently operating as an Airbnb.
      520 E 2Nd St, Erie, PA 16507
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,630 SF

      Retail Space in Summit Centre

      Retail space available in a high-traffic Erie shopping center.
      158-7200 Peach St, Erie, PA 16507
      View Details
    • Contact for pricing

      Erie CBD Office Space Available

      Centrally located office space in Erie's CBD for rent.
      10 E 4Th St, Erie, PA 16507
      View Details
    • New
      $6,500 /Mo
      4,496 SF

      Remodeled Multi-Level Office Space

      Updated downtown office layout with off-street parking, accessible access, and multiple private offices and meeting rooms.
      246 W 6Th St, Erie, PA 16507
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    223 25th W 2nd St
    Erie, PA 16507
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    223 25th W 2nd St, Erie, PA, 16507
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!