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    Property profile & analytics

    7220 Lk Rd Erie, PA 16511-1563

    • Hotels
    • 2,040 SF
    • 5.02 lot acres
    OFF-MARKET
    Value Estimation
    $310,000
    Last Sale
    Feb 02, 2024
    Location Intelligence
    Property ID
    US73-1699375
    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.

    Current Use by Public Records

    • Hotels

    Property Details for 7220 Lk Rd

    Year built
    1950
    Construction
    WOOD
    Lot size
    5.02 lot acres
    Property size
    2,040 SF
    Zone code
    R2B
    Property type
    Hotels
    Property subtype
    Motels
    APN
    27-025-010.0-014.00
    APU
    27025010001400

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -79.9561
    Latitude
    42.1902
    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
    $4,771
    $150,600
    $30,500
    $181,100
    -
    $150,600
    $30,500
    $181,100

    Comparable in this City

    • Value Estimation
      $485,000
      1,512 SF

      8696 Lk Rd

      HOTEL/MOTEL • 1,512 SF
      8696 Lk Rd, Erie, PA 16511-1622
      View Details
    • Value Estimation
      $235,000
      1,920 SF

      4535 Lk Rd

      HOTEL/MOTEL • 1,920 SF
      4535 Lk Rd, Erie, PA 16511-1322
      View Details
    • Value Estimation
      $210,000
      6,910 SF

      7090 Lk Rd

      HOTEL/MOTEL • 6,910 SF
      7090 Lk Rd, Erie, PA 16511-1505
      View Details
    • Value Estimation by Request
      0.49 Acres

      Downing Ave

      COMMERCIAL (GENERAL) • 0.49 Acres
      Downing Ave, Erie, PA 16511
      View Details
    • Value Estimation by Request
      0.16 Acres

      12 12th Ww

      COMMERCIAL (GENERAL) • 0.16 Acres
      12 12th Ww, Erie, PA 16511
      View Details
    • Value Estimation by Request
      0.36 Acres

      3 3rd Ww

      COMMERCIAL (GENERAL) • 0.36 Acres
      3 3rd Ww, Erie, PA 16511
      View Details

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    7220 Lk Rd
    Erie, PA 16511-1563
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    Realmo Value Estimation

    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.

    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.

    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
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