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Property profile & analytics
OFF-MARKET
Estimated value
$2,465,000
Medical Office Space
3016 Lk Rd Erie, PA 16505
Entity Owned
3-yr Hold
Free & Clear
Property ID
US73-2393248
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1973
Construction
WOOD
Total area
11,700 SF
Lot
0.72 ac (31,259 SF)
Zoning code
RB
APN
33-029-064.0-003.01
UPID
US73-2393248
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.48M
CAP Approach
CAP
$2.22M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.47M
Owner & transaction history
Henmi Apartments INC · 3 yrs held
Henmi Apartments INC
since 2023
Last sale
$2.5M
5 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
$2,435,000
ML approach
$2,475,000
CAP Approach
CAP Return
Estimation
6%
$2,400,000
6.5%
$2,220,000
7%
$2,060,000
Blend value · Realmo final
$2.47M
Range $2.22M – $2.71M · ±10% · vs last sale $2.48M (May 1 2023)
Last sale anchor
$2.48M
May 1 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
$211 / 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
$40,739
Tax year 2023
Assessed value
$1,575,122
Assessed 2024
Previous assessed
$1,575,122
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$140,700
Assessed improvement
$1,434,422
Land market value
$140,700
Improvement market value
$1,434,422
Total market value
$1,575,122
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1973
Construction
WOOD
Heating
NONE
Stories
4
Total area
11,700 SF
Lot
0.72 ac (31,259 SF)
Zoning code
RB
APN
33-029-064.0-003.01
UPID
US73-2393248
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
Building & site characteristics
From public records
Year built
1973
Construction
WOOD
Heating
NONE
Stories
4
Lot
0.72 ac
Current owner
From public records · entity-resolved
Henmi Apartments INC
Entity
Free & Clear · 3 yrs held
Mailing address
2660 LOWREY AVE, HONOLULU, HI 96822-1635
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2023
$2,475,000
Henmi Apartments INC
3016 Weet Lake LLC
Special Warranty Deed
—
Jan 10, 2019
$1,748,193
3016 West Lake LLC
Viscusi,donald J & Maarit H
Warranty Deed
$1,235,000 · Meriwest Cu
Dec 17, 2015
—
Donald J Viscusi
Viscusi,maarit H
Quit Claim Deed
related
—
Dec 18, 1998
$750,000
Viscusi,maarit H
Standard Property Corp
Trustees Deed
$600,000 · Pnc Bank
—
—
Pnc Bank
—
Deed Of Trust
related
$600,000 · Pnc 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.
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