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Property profile & analytics
OFF-MARKET
Schools
501 Myrtle St Erie, PA 16507-1363
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US73-5753406
Property profile
Verified
Property type
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Year built
1909
Total area
1,860 SF
Lot
0.06 ac (2,640 SF)
Zoning code
RLB
APN
17-040-008.0-122.00
UPID
US73-5753406
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
Gannon University · 4 yrs held
Gannon University
since 2022
Last sale
$225,000
6 recorded transactions
Zoning & alternative use
RLB · 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
$1,071
Tax year 2023
Assessed value
$28,156
Assessed 2024
Previous assessed
$28,156
+0.0% YoY
Effective rate
3.80%
On assessed value
Assessed land
$28,156
Land market value
$28,156
Total market value
$28,156
Applied tax rate
17.0000
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
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Status
Off-Market
Year built
1909
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Rooms
9
Bathrooms
2
Total area
1,860 SF
Lot
0.06 ac (2,640 SF)
Zoning code
RLB
APN
17-040-008.0-122.00
UPID
US73-5753406
Jurisdiction
ERIE
Zoning & alternative use
RLB · Erie, PA
Zoning RLB · permitted uses
RLB · 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
1909
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
9
Bathrooms
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
Gannon University
Individual
Mailing address
109 UNIVERSITY SQ, ERIE, PA 16541-0002
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2022
$225,000
Gannon University
Guy C Orton
Special Warranty Deed
—
Jul 13, 2018
—
Guy C Orton
—
Deed
related
$337,400 · Marquette Savings Bank
Jul 14, 2006
$95,000
Guy C Orton
Selleck,len W
Warranty Deed
—
Dec 31, 1997
$55,000
Len W Selleck
Wizikowski,paul M
Grant Deed
$45,688 · Erie Consumer Dis Co
—
—
Guy C Orton
—
Deed Of Trust
related
$92,800 · Pnc Bank
—
—
Len W Selleck
—
Deed Of Trust
related
$6,000 · Jean C Pepper
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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