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Property profile & analytics
OFF-MARKET
Retail space
425 31st St, Erie, PA 16508-1740
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US73-2821372
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1858
Construction
WOOD
Total area
23,240 SF
Lot
0.16 ac (6,952 SF)
Zoning code
C3
APN
14-010-002.0-217.00
UPID
US73-2821372
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Richard J Krouse · 3 yrs held
Richard J Krouse
since 2022
Last sale
$169,000
4 recorded transactions
Zoning & alternative use
C3 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$34,619
Tax year 2023
Assessed value
$910,002
Assessed 2024
Previous assessed
$910,002
+0.0% YoY
Effective rate
3.80%
On assessed value
Assessed land
$180,700
Assessed improvement
$729,302
Land market value
$180,700
Improvement market value
$729,302
Total market value
$910,002
Applied tax rate
14.0000
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
Off-Market
Year built
1858
Construction
WOOD
Heating
NONE
Stories
4
Total area
23,240 SF
Lot
0.16 ac (6,952 SF)
Zoning code
C3
APN
14-010-002.0-217.00
UPID
US73-2821372
Jurisdiction
ERIE
Zoning & alternative use
C3 · Erie, PA
Zoning C3 · permitted uses
C3 · 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
1858
Construction
WOOD
Heating
NONE
Stories
4
Lot
0.16 ac
Current owner
From public records · entity-resolved
Richard J Krouse
Individual
Mailing address
417 STATE ST, ERIE, PA 16501-1106
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2022
$169,000
Richard J Krouse
Matthew J Lewis
Special Warranty Deed
$126,750 · Movement Mortgage
Aug 2, 2019
$700,000
5th & State East LLC
Deluca 2017 Trust
Grant Deed
$1,400,000 · Erie Downtown Equity Fund LLC
Jan 8, 2018
—
Deluca 2017 Trust
Deluca 2011 Family Trust
Quit Claim Deed
related
—
May 13, 2011
—
Deluca Family 2011 It
Deluca,amrgaret J
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.
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