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Property profile & analytics
OFF-MARKET
Estimated value
$925,000
Warehouses
648 18th St, Erie, PA 16503
Entity Owned
3-yr Hold
Free & Clear
Property ID
US73-0065633
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1940
Construction
FRAME
Total area
17,276 SF
Lot
6.93 ac (301,784 SF)
Zoning code
M2
APN
15-020-037.0-105.00
UPID
US73-0065633
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
-
RB Landscape & Concrete, LLC Landscaping (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$753k
Blend (final)
Blend
$925k
Owner & transaction history
East 18th Street LLC · 3 yrs held
East 18th Street LLC
since 2022
Last sale
$15,000
4 recorded transactions
Zoning & alternative use
M2 · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.4M
+122.8%
Restaurant
$1.4M
+122.7%
Retail stores
$1.4M
+122.1%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$640,000
Current use
OFFICE BUILDING
$1,420,000
Change: +123% · Conversion: Difficult
RESTAURANT
$1,420,000
Change: +123% · Conversion: Difficult
RETAIL STORES
$1,415,000
Change: +122% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,410,000
Change: +121% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,200,000
Change: +88% · Conversion: Easy
COMMERCIAL (GENERAL)
$760,000
Change: +19% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$590,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$925k
Range $833k – $1.02M · ±10% · vs last sale $15k (Dec 8 2022)
Last sale anchor
$15k
Dec 8 2022
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
$54 / 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
$10,450
Tax year 2023
Assessed value
$274,700
Assessed 2024
Previous assessed
$274,700
+0.0% YoY
Effective rate
3.80%
On assessed value
Assessed land
$173,200
Assessed improvement
$101,500
Land market value
$173,200
Improvement market value
$101,500
Total market value
$274,700
Applied tax rate
15.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1940
Construction
FRAME
Heating
NONE
Buildings
2
Stories
3
Total area
17,276 SF
Lot
6.93 ac (301,784 SF)
Zoning code
M2
APN
15-020-037.0-105.00
UPID
US73-0065633
Jurisdiction
ERIE
Zoning & alternative use
M2 · Erie, PA
Zoning M2 · permitted uses
M2 · 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
WAREHOUSE, STORAGE Current
Est. value
$640,000
OFFICE BUILDING
Est. value
$1.4M
RESTAURANT
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$760,000
INDUSTRIAL (GENERAL)
Est. value
$590,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
RESTAURANT
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1940
Construction
FRAME
Heating
NONE
Stories
3
Buildings
2
Lot
6.93 ac
Current owner
From public records · entity-resolved
East 18th Street LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1854 E 26TH ST, ERIE, PA 16510-2524
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
Dec 8, 2022
$15,000
East 18th Street LLC
Dhs Realty INC
Special Warranty Deed
—
Jul 19, 2007
$295,560
Limco INC
Liberty Iron & Metal
Warranty Deed
—
Jul 19, 2007
$2,076,240
Liberty Iron & Metal LLC
Limco INC
Grant Deed
—
Mar 3, 2000
—
Liberty Iron & Metal Co
Weil,lucille L & Lothar
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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