Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$14,490,000
Outlet malls
5350 Rdg Rd Erie, PA 16506-1222
Entity Owned
15-yr Hold
Free & Clear
Property ID
US73-0474802
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2012
Construction
FRAME
Total area
177,906 SF
Lot
32.06 ac (1,396,490 SF)
Zoning code
AR
APN
33-041-230.0-012.02
UPID
US73-0474802
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
-
Walmart House Cleaning Services Hardware & Home Improvement
-
Ria Money Transfer - Walmart Bank Credit Union
-
Minute Key Locksmith (Bike/Boat/Book/etc) Store
-
Walmart2561 Electronics Vending Machine
-
Walmart Baby & Nursery Services Social Service Agency Community Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.51M
Blend (final)
Blend
$14.49M
Owner & transaction history
Millcreek Town Center LP · 15 yrs held
Millcreek Town Center LP
since 2011
1 recorded transaction
Zoning & alternative use
AR · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$19.0M
+29.9%
Office building
$14.6M
+0.3%
Restaurant
$14.6M
+0.3%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$14,595,000
Current use
APARTMENT HOUSE (5+ UNITS)
$18,965,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$14,640,000
Change: +0% · Conversion: Easy
RESTAURANT
$14,635,000
Change: +0% · Conversion: Easy
AUTO REPAIR, GARAGE
$12,355,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$14.49M
Range $13.04M – $15.94M · ±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
$81 / 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
$307,351
Tax year 2023
Assessed value
$11,883,300
Assessed 2024
Previous assessed
$11,883,300
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$1,488,000
Assessed improvement
$10,395,300
Land market value
$1,488,000
Improvement market value
$10,395,300
Total market value
$11,883,300
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2012
Construction
FRAME
Heating
NONE
Stories
1
Total area
177,906 SF
Lot
32.06 ac (1,396,490 SF)
Zoning code
AR
APN
33-041-230.0-012.02
UPID
US73-0474802
Jurisdiction
ERIE
Zoning & alternative use
AR · Erie, PA
Zoning AR · permitted uses
AR · 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
RETAIL STORES Current
Est. value
$14.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$19.0M
OFFICE BUILDING
Est. value
$14.6M
RESTAURANT
Est. value
$14.6M
AUTO REPAIR, GARAGE
Est. value
$12.4M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
RESTAURANT
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
2012
Construction
FRAME
Heating
NONE
Stories
1
Lot
32.06 ac
Current owner
From public records · entity-resolved
Millcreek Town Center LP
Entity
Free & Clear · 15 yrs held
Mailing address
PO BOX 8050, BENTONVILLE, AR 72712-8055
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2011
—
Millcreek Town Center LP
Millcreek Town Center LP
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 5350 Rdg Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
