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Property profile & analytics
OFF-MARKET Estimated value $795,000
Medical Office Space

4002 Schaper Ave Erie, PA 16508-3358

6,996 SF 0.99 ac lot Built 1992
Individually Owned 6-yr Hold ~ Est. High Equity
Property ID
US73-2026850
Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1992
Construction WOOD
Total area 6,996 SF
Lot 0.99 ac (42,959 SF)
Zoning code RLB
APN 19-061-066.0-129.00
UPID US73-2026850
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
  • Osteopathic Cardiology Associates Physician
  • Mikielski Kevin J DO Physician
  • Esper William A DO Physician
  • Gary F. Esper, D.O. Physician
  • Erin Weindorf Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$775k
CAP Approach CAP
by Request
Comparable Approach Comparable
$554k
Blend (final) Blend
$795k
Owner & transaction history
Lake Erie Clg Of Osteopathic Medi · 6 yrs held
Lake Erie Clg Of Osteopathic Medi
since 2020
Last sale
$820,000
4 recorded transactions
2020
$820,000
2005
$560,000
1969
Price N/A
1969
Price N/A
Zoning & alternative use
RLB · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

RLB Residential Limited Commercial District is primarily for residential uses, home occupations, and limited commercial uses, generally located in the developed areas along major thoroughfares or adjacent to commercial or manufacturing districts. 202.3. Commercial districts. Districts designated for commercial use are more restrictive in outlying residential…

Zone name Residential Limited Business
General category INDUSTRIAL
Zone area 792.40 ac
Top alternative use upside
Auto repair, garage $830,000 +88.3%
Restaurant $605,000 +37.4%
Retail stores $510,000 +15.7%
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