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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Turn key restaurants
4002 Buffalo Rd, Erie, PA 16510-2005
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US73-2627998
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2006
Construction
FRAME
Total area
5,345 SF
Lot
1.46 ac (63,380 SF)
Zoning code
B1
APN
27-050-150.0-004.00
UPID
US73-2627998
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
-
Applebee's Grill + Bar Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$375k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$578k
Blend (final)
Blend
$595k
Owner & transaction history
Scotts Motel INC · 3 yrs held
Scotts Motel INC
since 2022
7 recorded transactions
Zoning & alternative use
B1 · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$440,000
+0.1%
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
$375,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$440,000
Current use
OFFICE BUILDING
$440,000
Change: +0% · Conversion: Moderate
RETAIL STORES
$440,000
Change: 0% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$435,000
Change: -1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$370,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$595k
Range $536k – $655k · ±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
$111 / 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
$23,646
Tax year 2023
Assessed value
$897,500
Assessed 2024
Previous assessed
$897,500
+0.0% YoY
Effective rate
2.63%
On assessed value
Assessed land
$325,100
Assessed improvement
$572,400
Land market value
$325,100
Improvement market value
$572,400
Total market value
$897,500
Applied tax rate
27.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2006
Construction
FRAME
Heating
NONE
Stories
2
Total area
5,345 SF
Lot
1.46 ac (63,380 SF)
Zoning code
B1
APN
27-050-150.0-004.00
UPID
US73-2627998
Jurisdiction
ERIE
Zoning & alternative use
B1 · Erie, PA
Zoning B1 · permitted uses
B1 · 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
RESTAURANT Current
Est. value
$440,000
OFFICE BUILDING
Est. value
$440,000
RETAIL STORES
Est. value
$440,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$435,000
AUTO REPAIR, GARAGE
Est. value
$370,000
RESTAURANT Current
OFFICE BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
2006
Construction
FRAME
Heating
NONE
Stories
2
Lot
1.46 ac
Current owner
From public records · entity-resolved
Scotts Motel INC
Entity
Mailing address
2225 DOWNS DR, ERIE, PA 16509-4793
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 21, 2022
—
Scotts Motel INC
Scotts Development Company
Lease
—
Feb 14, 2018
—
Scotts Dev Co
—
Deed
related
$2,247,183 · Citizens Bk/pa
Aug 23, 2017
—
Scotts Dev Co
—
Deed
related
$2,000,000 · Citizens Bk/pa
Aug 14, 2017
—
Scotts Dev Co
—
Deed
related
$1,920,000 · Citizens Bk/pa
Mar 15, 2017
—
Scotts Dev Co
—
Deed
related
$1,565,503 · Citizens Bk/pa
Oct 23, 2014
—
Scotts Dev Co
—
Grant Deed
related
$1,565,503 · Citizens Bk/pa
Sep 21, 2005
$360,000
Scotts Dev Co
Gmh
Warranty Deed
—
Apr 2, 2001
$1,200,000
Gmh LP
Gindlesperger,ruth L
Grant Deed
—
—
—
Scotts Dev Co
—
Deed Of Trust
related
$2,000,000 · Citizens Bk/pa
—
—
Scotts Dev Co
—
Deed Of Trust
related
$2,000,000 · Citizens Bk/pa
—
—
Scotts Dev Co
—
Deed Of Trust
related
$500,000 · Citizens Bk/pa
—
—
Scotts Dev Co
—
Loan Modification
related
$1,565,503 · Citizens Bk/pa
—
—
Scotts Dev Co
—
Deed Of Trust
related
$1,920,000 · Citizens Bk/pa
—
—
Scotts Dev Co
—
Deed Of Trust
related
$2,000,000 · Citizens Bk/pa
—
—
Scotts Dev Co
—
Deed Of Trust
related
$2,247,183 · Citizens Bk/pa
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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