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Property profile & analytics
FOR LEASE
Retail space
3742 W 12Th St Erie, PA 16505
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US73-0395322
For Lease
1 / 17
$8 SF/Yr
3742 W 12Th St, Erie, PA 16505
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1960
Construction
FRAME
Total area
16,674 SF
Lot
1.62 ac (70,393 SF)
Zoning code
BB
APN
33-027-086.0-028.00
UPID
US73-0395322
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
-
King Cobra Karate Training Center Sports School
-
The Rage Ring Arcade & Gaming Center Family Recreation Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$550k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$747k
Blend (final)
Blend
$550k
Owner & transaction history
Sjre LLC · 2 yrs held
Sjre LLC
since 2024
Last sale
$550,000
7 recorded transactions
Zoning & alternative use
BB · 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
$550,000
ML approach
$550,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$550k
Range $495k – $605k · ±10% · vs last sale $550k (Feb 7 2024)
Last sale anchor
$550k
Feb 7 2024
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
$33 / 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
$17,008
Tax year 2023
Assessed value
$657,600
Assessed 2024
Previous assessed
$657,600
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$113,100
Assessed improvement
$544,500
Land market value
$113,100
Improvement market value
$544,500
Total market value
$657,600
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1960
Construction
FRAME
Heating
NONE
Buildings
2
Stories
5
Total area
16,674 SF
Lot
1.62 ac (70,393 SF)
Zoning code
BB
APN
33-027-086.0-028.00
UPID
US73-0395322
Jurisdiction
ERIE
Zoning & alternative use
BB · Erie, PA
Zoning BB · permitted uses
BB · 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
1960
Construction
FRAME
Heating
NONE
Stories
5
Buildings
2
Lot
1.62 ac
Current owner
From public records · entity-resolved
Sjre LLC
Entity
Mailing address
7729 MAGNOLIA BND, FAIRVIEW, PA 16415-1291
Ownership since
2024
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
Feb 7, 2024
$550,000
Sjre LLC
Neely Rentals LLC
Deed
$250,000 · Neely Rentals LLC
Oct 9, 2018
—
Neely Rentals LLC
—
Deed
related
$750,000 · Huntington Nat'l Bk
Oct 23, 2002
$425,000
Neely Rentals LLC
Meyers,margaret L
Grant Deed
—
—
—
Neely Rentals LLC
—
Deed Of Trust
related
$750,000 · Huntington Nat'l Bk
—
—
Neely Rentals LLC
—
Deed Of Trust
related
$65,000 · Firstmerit Bank NA
—
—
Neely Rentals LLC
—
Deed Of Trust
related
$712,500 · Firstmerit Bank NA
—
—
Neely Rentals LLC
—
Deed Of Trust
related
$675,000 · Sky Bank
—
—
Neely Rentals LLC
—
Deed Of Trust
related
$825,000 · Sky 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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