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Property profile & analytics
OFF-MARKET
Estimated value
$1,320,000
Office buildings
2631 8th St, Erie, PA 16505-4034
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US73-2456287
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1965
Construction
STEEL FRAME
Total area
9,600 SF
Lot
2.32 ac (101,059 SF)
Zoning code
BB
APN
33-030-048.0-003.01
UPID
US73-2456287
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
-
Niagara Therapy, LLC Physician
-
Markelle Blair Physician
-
Sydney Gornic Physician
-
Debra Seneta Physician
-
Jessica Stanford Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.38M
Blend (final)
Blend
$1.32M
Owner & transaction history
Niagara Properties LLC · 9 yrs held
Niagara Properties LLC
since 2016
7 recorded transactions
Zoning & alternative use
BB · 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.32M
Range $1.19M – $1.45M · ±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
$138 / 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
$26,687
Tax year 2023
Assessed value
$1,031,800
Assessed 2024
Previous assessed
$1,031,800
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$433,356
Assessed improvement
$598,444
Land market value
$433,356
Improvement market value
$598,444
Total market value
$1,031,800
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1965
Construction
STEEL FRAME
Heating
NONE
Stories
1
Total area
9,600 SF
Lot
2.32 ac (101,059 SF)
Zoning code
BB
APN
33-030-048.0-003.01
UPID
US73-2456287
Jurisdiction
ERIE
Zoning & alternative use
BB · Erie, PA
Zoning BB · permitted uses
BB · 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
1965
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
2.32 ac
Current owner
From public records · entity-resolved
Niagara Properties LLC
Entity
Mailing address
2631 W 8TH ST, ERIE, PA 16505-4034
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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
Oct 31, 2016
$1,220,000
Niagara Properties LLC
Campbell & Eighth LLC
Grant Deed
$500,000 · Marquette Svgs Bk
Sep 23, 2005
—
Campbell & Eighth LLC
Campbell & Eighth LLC
Quit Claim Deed
related
$1,100,000 · Pnc Bank
Apr 11, 2005
—
Campbell & Eighth LLC
Campbell & Eighth LLC
Quit Claim Deed
related
—
Feb 20, 2004
$275,000
Campbell & Eight LLC
Erie Sport Store INC
Grant Deed
—
—
—
Campbell & Eighth LLC
—
Deed Of Trust
related
$770,000 · Northwest Svgs Bk
—
—
Erie Sport Store INC
—
Deed Of Trust
related
$725,000 · First National Bank Pa
—
—
Campbell & Eighth LLC
—
Deed Of Trust
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.
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