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Property profile & analytics
OFF-MARKET
Estimated value
$2,110,000
Retail space
2275 Downs Dr Erie, PA 16509-4793
Entity Owned
23-yr Hold
Free & Clear
Property ID
US73-2022869
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2002
Construction
FRAME
Total area
19,350 SF
Lot
4 ac (174,371 SF)
APN
40-001-016.0-088.09
UPID
US73-2022869
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
-
Erie Canine Academy Animal Training
-
Tractor Supply Co. Pet Store & Service
-
Garden Center at Tractor Supply Garden Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.37M
Blend (final)
Blend
$2.11M
Owner & transaction history
Tee Co · 23 yrs held
Tee Co
since 2003
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.6M
+0.3%
Restaurant
$1.6M
+0.3%
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
RETAIL STORES
$1,590,000
Current use
OFFICE BUILDING
$1,595,000
Change: +0% · Conversion: Easy
RESTAURANT
$1,590,000
Change: +0% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,580,000
Change: -1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,345,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$2.11M
Range $1.90M – $2.32M · ±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
$109 / 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
$39,044
Tax year 2023
Assessed value
$1,963,000
Assessed 2024
Previous assessed
$1,963,000
+0.0% YoY
Effective rate
1.99%
On assessed value
Assessed land
$1,133,700
Assessed improvement
$829,300
Land market value
$1,133,700
Improvement market value
$829,300
Total market value
$1,963,000
Applied tax rate
40.0000
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
2002
Construction
FRAME
Heating
NONE
Stories
1
Total area
19,350 SF
Lot
4 ac (174,371 SF)
APN
40-001-016.0-088.09
UPID
US73-2022869
Jurisdiction
ERIE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.6M
RESTAURANT
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES Current
OFFICE BUILDING
RESTAURANT
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
2002
Construction
FRAME
Heating
NONE
Stories
1
Lot
4 ac
Current owner
From public records · entity-resolved
Tee Co
Entity
Free & Clear · 23 yrs held
Mailing address
5401 VIRGINIA WAY, BRENTWOOD, TN 37027-7536
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2017
—
Tee Co
—
Deed
related
$1,500,000 · First Svgs Bk
Jul 9, 2003
$2,135,000
Tee Co
W Realty Co Ltd
Grant Deed
—
Jul 23, 2002
—
W Realty Co Ltd
—
Deed Of Trust
related
$1,335,000 · Ohio National Life Insurance
May 1, 2002
$1,913,000
W Realty Co Ltd
Bunnell Hill Dev Co INC
Grant Deed
—
May 1, 2002
$458,630
Bunnell Hill Dev Co INC
Tractor Supply Co
Grant Deed
—
Oct 22, 2001
$465,000
Tractor Supply Co
Scotts Development Co
Grant Deed
—
—
—
Tee Co
—
Deed Of Trust
related
$1,500,000 · First Svgs Bk
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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