Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,930,000
Hotels
2800 8th St Erie, PA 16505-4025
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US73-1772584
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1960
Construction
FRAME
Total area
84,127 SF
Lot
5.35 ac (233,133 SF)
Zoning code
RB
APN
33-029-050.0-004.00
UPID
US73-1772584
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
-
Bel-aire Hotel Lake Erie Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.78M
CAP Approach
CAP
$2.76M
Comparable Approach
Comparable
$5.43M
Blend (final)
Blend
$3.93M
Owner & transaction history
Millcreek Township General Authorit · 3 yrs held
Millcreek Township General Authorit
since 2023
Last sale
$4.0M
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
$3,935,000
ML approach
$3,780,000
CAP Approach
CAP Return
Estimation
6%
$2,985,000
6.5%
$2,755,000
7%
$2,560,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$6,385,000
Change: -3% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,245,000
Change: -5% · Conversion: Difficult
RETAIL STORES
$5,325,000
Change: -19% · Conversion: Difficult
MEDICAL BUILDING
$5,290,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$3.93M
Range $3.54M – $4.32M · ±10% · vs last sale $4.00M (Mar 24 2023)
Last sale anchor
$4.00M
Mar 24 2023
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
$47 / 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
$50,560
Tax year 2023
Assessed value
$5,100,000
Assessed 2024
Previous assessed
$5,100,000
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$954,300
Assessed improvement
$4,145,700
Land market value
$954,300
Improvement market value
$4,145,700
Total market value
$5,100,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1960
Construction
FRAME
Heating
NONE
Buildings
2
Stories
17
Total area
84,127 SF
Lot
5.35 ac (233,133 SF)
Zoning code
RB
APN
33-029-050.0-004.00
UPID
US73-1772584
Jurisdiction
ERIE
Zoning & alternative use
RB · Erie, PAZoning RB · permitted uses
RB · Erie, PA
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
COMMERCIAL (GENERAL)
Est. value
$6.4M
AUTO REPAIR, GARAGE
Est. value
$6.2M
RETAIL STORES
Est. value
$5.3M
MEDICAL BUILDING
Est. value
$5.3M
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
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
1960
Construction
FRAME
Heating
NONE
Stories
17
Buildings
2
Lot
5.35 ac
Current owner
From public records · entity-resolved
Millcreek Township General Authorit
Individual
Mailing address
3608 W 26TH ST, ERIE, PA 16506-2059
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 24, 2023
$4,000,000
Millcreek Township General Authorit
Hdda Erie LLC
Special Warranty Deed
—
Dec 19, 2022
$264,346
Hdda Erie LLC
Erie County
Sheriffs Deed
related
—
Dec 27, 2006
—
Kertra Ltd
—
Deed Of Trust
related
$7,500,000 · Northwest Savings Bank
—
—
Kertra Ltd
—
Deed Of Trust
related
$7,500,000 · Northwest Svgs Bk
—
—
Kertra Ltd
—
Deed Of Trust
related
$250,000 · Northwest Svgs Bk
—
—
Kertra Ltd
—
Deed Of Trust
related
$8,600,000 · Sky Bank
—
—
Kertra Ltd
—
Deed Of Trust
related
$250,000 · Sky Bank
—
—
Kertra Ltd
—
Deed Of Trust
related
$4,950,000 · Access Pt Fin'l
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 2800 8th 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.
