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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Manufacturing properties
361 11th St, Erie, PA 16501-1703
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US73-2188583
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1967
Construction
FRAME
Total area
13,658 SF
Lot
0.62 ac (27,142 SF)
Zoning code
M2
APN
16-030-019.0-117.00
UPID
US73-2188583
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
-
The Wilkins Company, Inc. Security Service
-
Thermoclad Co Factory Production Facility
-
Protech Group Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$485k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$401k
Blend (final)
Blend
$500k
Owner & transaction history
Magee Won LLC · 3 yrs held
Magee Won LLC
since 2023
Last sale
$510,000
2 recorded transactions
Zoning & alternative use
M2 · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$600,000
+29.3%
Warehouse, storage
$505,000
+8.6%
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
$500,000
ML approach
$485,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$465,000
Current use
COMMERCIAL (GENERAL)
$600,000
Change: +29% · Conversion: Difficult
WAREHOUSE, STORAGE
$505,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$500k
Range $450k – $550k · ±10% · vs last sale $510k (May 23 2023)
Last sale anchor
$510k
May 23 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
$37 / 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
$9,343
Tax year 2023
Assessed value
$245,600
Assessed 2024
Previous assessed
$245,600
+0.0% YoY
Effective rate
3.80%
On assessed value
Assessed land
$54,300
Assessed improvement
$191,300
Land market value
$54,300
Improvement market value
$191,300
Total market value
$245,600
Applied tax rate
16.0000
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
1967
Construction
FRAME
Heating
NONE
Stories
2
Total area
13,658 SF
Lot
0.62 ac (27,142 SF)
Zoning code
M2
APN
16-030-019.0-117.00
UPID
US73-2188583
Jurisdiction
ERIE
Zoning & alternative use
M2 · Erie, PA
Zoning M2 · permitted uses
M2 · 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
$465,000
COMMERCIAL (GENERAL)
Est. value
$600,000
WAREHOUSE, STORAGE
Est. value
$505,000
INDUSTRIAL (GENERAL) Current
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
1967
Construction
FRAME
Heating
NONE
Stories
2
Lot
0.62 ac
Current owner
From public records · entity-resolved
Magee Won LLC
Entity
Mailing address
5140 FOXPARK DR, FAIRVIEW, PA 16415-2336
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2023
$510,000
Magee Won LLC
Protech Us Holdings INC
Special Warranty Deed
$520,000 · Northwest Bank
Dec 12, 2012
$545,022
Protech Us Holding INC
Thermoclad Co
Warranty Deed
—
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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