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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Manufacturing properties
340 Bayfront Pkwy, Erie, PA 16507-2004
Entity Owned
24-yr Hold
Free & Clear
Property ID
US73-1232628
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1913
Construction
FRAME
Total area
10,384 SF
Lot
1.17 ac (50,835 SF)
Zoning code
WC
APN
17-040-048.0-203.00
UPID
US73-1232628
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
-
Erie Water Works - Administration Building Government Office
-
Erie City Sewer City Government Office
-
Parking Authority-Meter Repair City Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$574k
Blend (final)
Blend
$515k
Owner & transaction history
Eric City Water Authority · 24 yrs held
Eric City Water Authority
since 2001
1 recorded transaction
Zoning & alternative use
WC · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$855,000
+142.0%
Restaurant
$855,000
+141.9%
Retail stores
$850,000
+141.3%
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
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$355,000
Current use
OFFICE BUILDING
$855,000
Change: +142% · Conversion: Difficult
RESTAURANT
$855,000
Change: +142% · Conversion: Difficult
RETAIL STORES
$850,000
Change: +141% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$850,000
Change: +140% · Conversion: Difficult
AUTO REPAIR, GARAGE
$720,000
Change: +104% · Conversion: Easy
COMMERCIAL (GENERAL)
$455,000
Change: +29% · Conversion: Difficult
WAREHOUSE, STORAGE
$385,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$50 / 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
Assessed value
$940,900
Assessed 2024
Previous assessed
$940,900
+0.0% YoY
Assessed land
$272,300
Assessed improvement
$668,600
Land market value
$272,300
Improvement market value
$668,600
Total market value
$940,900
Applied tax rate
17.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1913
Construction
FRAME
Heating
NONE
Stories
4
Total area
10,384 SF
Lot
1.17 ac (50,835 SF)
Zoning code
WC
APN
17-040-048.0-203.00
UPID
US73-1232628
Jurisdiction
ERIE
Zoning & alternative use
WC · Erie, PA
Zoning WC · permitted uses
WC · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$355,000
OFFICE BUILDING
Est. value
$855,000
RESTAURANT
Est. value
$855,000
RETAIL STORES
Est. value
$850,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$850,000
AUTO REPAIR, GARAGE
Est. value
$720,000
COMMERCIAL (GENERAL)
Est. value
$455,000
WAREHOUSE, STORAGE
Est. value
$385,000
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1913
Construction
FRAME
Heating
NONE
Stories
4
Lot
1.17 ac
Current owner
From public records · entity-resolved
Eric City Water Authority
Entity
Free & Clear · 24 yrs held
Mailing address
340 W BAYFRONT PKWY, ERIE, PA 16507-2004
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 20, 2001
—
Eric City Water Authority
Bayfront Access & Beautificati
Quit Claim Deed
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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