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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Turn key restaurants
8041 Peach St Erie, PA 16509-4732
Trust Owned
10-yr Hold
Free & Clear
Property ID
US73-1957452
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1990
Construction
WOOD
Total area
5,962 SF
Lot
1.56 ac (67,954 SF)
Zoning code
B1
APN
40-005-071.0-012.00
UPID
US73-1957452
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
-
Bob Evans Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$430k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$525k
Blend (final)
Blend
$545k
Owner & transaction history
National Retail Properties Trust · 10 yrs held
National Retail Properties Trust
since 2016
1 recorded transaction
Zoning & alternative use
B1 · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$490,000
+0.1%
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
$430,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$490,000
Current use
OFFICE BUILDING
$490,000
Change: +0% · Conversion: Moderate
RETAIL STORES
$490,000
Change: 0% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$485,000
Change: -1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$415,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±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
$91 / 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
$24,576
Tax year 2023
Assessed value
$1,235,600
Assessed 2024
Previous assessed
$1,235,600
+0.0% YoY
Effective rate
1.99%
On assessed value
Assessed land
$766,700
Assessed improvement
$468,900
Land market value
$766,700
Improvement market value
$468,900
Total market value
$1,235,600
Applied tax rate
40.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1990
Construction
WOOD
Heating
NONE
Stories
1
Total area
5,962 SF
Lot
1.56 ac (67,954 SF)
Zoning code
B1
APN
40-005-071.0-012.00
UPID
US73-1957452
Jurisdiction
ERIE
Zoning & alternative use
B1 · Erie, PA
Zoning B1 · permitted uses
B1 · 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
RESTAURANT Current
Est. value
$490,000
OFFICE BUILDING
Est. value
$490,000
RETAIL STORES
Est. value
$490,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$485,000
AUTO REPAIR, GARAGE
Est. value
$415,000
RESTAURANT Current
OFFICE BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1990
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.56 ac
Current owner
From public records · entity-resolved
National Retail Properties Trust
Trust
Free & Clear · 10 yrs held
Mailing address
450 S ORANGE AVE STE #900, ORLANDO, FL 32801-3339
Ownership since
2016
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
Apr 21, 2016
$1,835,083
National Retail Properties Trust
Bob Evans Farms LLC
Grant Deed
—
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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