New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,155,000
Turn key restaurants
2656 12th St Erie, PA 16505-4349
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US73-2449763
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1969
Construction
FRAME
Total area
2,392 SF
Lot
1.01 ac (44,083 SF)
Zoning code
RB
APN
33-030-048.0-029.01
UPID
US73-2449763
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
-
KFC Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.13M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.16M
Owner & transaction history
Cpg Erie LLC · 4 yrs held
Cpg Erie LLC
since 2021
Last sale
$1.2M
6 recorded transactions
Zoning & alternative use
RB · 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
$1,040,000
ML approach
$1,130,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±10% · vs last sale $1.23M (Oct 15 2021)
Last sale anchor
$1.23M
Oct 15 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
$483 / 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
$17,124
Tax year 2023
Assessed value
$662,062
Assessed 2024
Previous assessed
$662,062
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$198,400
Assessed improvement
$463,662
Land market value
$198,400
Improvement market value
$463,662
Total market value
$662,062
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1969
Construction
FRAME
Heating
NONE
Stories
1
Total area
2,392 SF
Lot
1.01 ac (44,083 SF)
Zoning code
RB
APN
33-030-048.0-029.01
UPID
US73-2449763
Jurisdiction
ERIE
Zoning & alternative use
RB · Erie, PA
Zoning RB · permitted uses
RB · 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
1969
Construction
FRAME
Heating
NONE
Stories
1
Lot
1.01 ac
Current owner
From public records · entity-resolved
Cpg Erie LLC
Entity
Mailing address
3304 ESSEX DR, RICHARDSON, TX 75082-9708
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
Oct 15, 2021
$1,225,000
Cpg Erie LLC
Troy R Martin
Special Warranty Deed
—
Aug 11, 2015
—
Martin,constance R Living Trust
Martin,connie R
Quit Claim Deed
related
—
Jun 18, 2015
—
Connie R Martin
Martin Gary C
Affidavit Of Death
related
—
Sep 11, 2012
$687,500
Gary C Martin
Dbmfi LLC
Grant Deed
—
Jan 3, 2012
$787,294
Dbmfi LLC
Morgans Restaurants Of Pennsylvania
Special Warranty Deed
$15,000,000 · Wells Fargo Bank NA
—
—
Gary C Martin
—
Deed Of Trust
related
$400,000 · Wells Fargo 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 2656 12th St?
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.
