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Property profile & analytics
OFF-MARKET
Estimated value
$1,140,000
Warehouses
2740 12th St Erie, PA 16505-4202
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US73-0395352
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2017
Construction
WOOD
Total area
1,600 SF
Lot
0.16 ac (7,039 SF)
Zoning code
RB
APN
33-030-053.0-001.01
UPID
US73-0395352
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
-
Window Cleaning & Pressure Washing by Jim General Contractor Renovation Specialist
-
Erie School Of Photography Vocational School Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.14M
Owner & transaction history
New Wine 5 LLC · 5 yrs held
New Wine 5 LLC
since 2020
Last sale
$1.2M
7 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
$1,105,000
ML approach
$1,100,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.14M
Range $1.03M – $1.25M · ±10% · vs last sale $1.18M (Nov 2 2020)
Last sale anchor
$1.18M
Nov 2 2020
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
$713 / 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
$3,088
Tax year 2023
Assessed value
$119,400
Assessed 2024
Previous assessed
$119,400
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$31,700
Assessed improvement
$87,700
Land market value
$31,700
Improvement market value
$87,700
Total market value
$119,400
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
2017
Construction
WOOD
Heating
NONE
Stories
2
Total area
1,600 SF
Lot
0.16 ac (7,039 SF)
Zoning code
RB
APN
33-030-053.0-001.01
UPID
US73-0395352
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
2017
Construction
WOOD
Heating
NONE
Stories
2
Lot
0.16 ac
Current owner
From public records · entity-resolved
New Wine 5 LLC
Entity
Mailing address
2740 W 12TH ST, ERIE, PA 16505-4202
Ownership since
2020
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
Nov 2, 2020
$1,175,000
New Wine 5 LLC
Frank Michael Defazio
Deed
$998,750 · Greenville Savings Bank
Nov 13, 2017
—
Nelson Real Estate LLC
—
Deed
related
$155,000 · Northwest Bk
Sep 5, 2017
$39,483
Nelson Real Estate LLC
Nelson,david
Grant Deed
related
—
Dec 1, 2016
$40,000
David Nelson
2740 West 12th Street INC
Grant Deed
—
Aug 3, 2004
—
2740 W 12th Street INC
Lin,chang D & Qin-you
Quit Claim Deed
related
—
Jun 22, 2000
$80,000
Cai J Chen
Lin,chang D & Qin-yuo Z
Grant Deed
$45,000 · Seller
—
—
Nelson Real Estate LLC
—
Deed Of Trust
related
$155,000 · Northwest 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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