Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    7 St St Erie, PA 16502
    Back to Search
    Property profile & analytics

    7 St St, Erie, PA 16502

    View on Map
    • Specialty properties
    • 0.11 lot acres
    Off-Market
    Property ID
    US73-3046549
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Merryvale Apartments / Apartment Building
    • HANDS Triad Housing Inc / Local Government Office
    • Housing and Neighborhood Development Service / Housing Authority / Corporate Office

    Property Details for 7 St St

    Lot size
    0.11 lot acres
    Zone code
    R2
    Property type
    Specialty properties
    APN
    17-040-028.0-231.00
    APU
    17040028023100

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 17, 2020 — Child Dev Centers INC — Deed · related $1M · Pnc Bk
    Sep 20, 2018 $165,000 Greater Erie Cmnty Action Comm Saint Matthews Evangelical Lut Grant Deed —
    — — Child Dev Centers INC — Deed Of Trust · related $1M · Pnc Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.1047
    Latitude
    42.1214
    CBSA code
    21500
    CBSA name
    ERIE, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $5,000
    $0.00
    $5,000
    -
    $5,000
    $0.00
    $5,000

    Comparable in this City

    • Value Estimation by Request
      0.11 Acres

      1824 Myrtle St

      CHARITABLE ORGANIZATION
      1824 Myrtle St, Erie, PA 16502
      View Details
    • Value Estimation by Request
      0.10 Acres

      1816 Myrtle St

      CHARITABLE ORGANIZATION
      1816 Myrtle St, Erie, PA 16502
      View Details
    • Value Estimation by Request
      2,380 SF

      452 17th St

      CHARITABLE ORGANIZATION
      452 17th St, Erie, PA 16502-1703
      View Details
    • Value Estimation by Request
      1,968 SF

      323 18th St

      CHARITABLE ORGANIZATION
      323 18th St, Erie, PA 16502-1827
      View Details
    • Value Estimation by Request
      1,909 SF

      327 18th St

      CHARITABLE ORGANIZATION
      327 18th St, Erie, PA 16502-1827
      View Details
    • Value Estimation by Request
      3,040 SF

      955 18th St

      CHARITABLE ORGANIZATION
      955 18th St, Erie, PA 16502-1509
      View Details

    Similar Nearby for Sale

    • $180,000
      4,545 SF

      Erie Commercial Opportunity For Sale

      Two buildings with endless possibilities, including a liquor license.
      711-719 Chestnut St, Erie, PA 16502
      View Details
    • $100,000
      Pending

      Erie Triplex in Strong Location

      Fully occupied triplex in Erie, PA with strong rental income.
      1622-24 Myrtle St, Erie, PA 16502
      View Details
    • $225,000
      Pending

      Erie Brick Triplex For Sale

      Spacious triplex with income potential and classic charm.
      917-19 W 10Th St, Erie, PA 16502
      View Details
    • $360,000
      1,124 SF

      Erie Auto Shop For Sale

      Turnkey mechanic shop with equipment, office, and parking.
      2223 State St, Erie, PA 16502
      View Details
    • $389,900
      4,168 SF

      Erie Brick Home with Income Potential

      Versatile Erie property with charm, modern updates, and income potential.
      510 W 10Th St, Erie, PA 16502
      View Details
    • $160,000
      Pending

      Erie Investment Property For Sale

      Three-unit property with strong cash flow and separate utilities.
      2204 Plum St, Erie, PA 16502
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7 St St
    Erie, PA 16502
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    7 St St, Erie, PA, 16502
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!