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Property profile & analytics
OFF-MARKET
Estimated value
$1,370,000
Hotels
8050 Old Oliver Rd Erie, PA 16509-4650
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US73-0657798
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1998
Construction
FRAME
Total area
54,668 SF
Lot
2.51 ac (109,292 SF)
Zoning code
B1
APN
40-017-073.0-002.10
UPID
US73-0657798
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
-
Hampton Inn Erie-South Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.45M
CAP Approach
CAP
$1.79M
Comparable Approach
Comparable
$1.29M
Blend (final)
Blend
$1.37M
Owner & transaction history
Widewaters Edr Erie Hotel Co L · 19 yrs held
Widewaters Edr Erie Hotel Co L
since 2006
4 recorded transactions
Zoning & alternative use
B1 · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,450,000
CAP Approach
CAP Return
Estimation
6%
$1,940,000
6.5%
$1,790,000
7%
$1,665,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,025,000
Current use
Blend value · Realmo final
$1.37M
Range $1.23M – $1.51M · ±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
$25 / 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
$116,844
Tax year 2023
Assessed value
$5,874,530
Assessed 2024
Previous assessed
$5,874,530
+0.0% YoY
Effective rate
1.99%
On assessed value
Assessed land
$961,500
Assessed improvement
$4,913,030
Land market value
$961,500
Improvement market value
$4,913,030
Total market value
$5,874,530
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1998
Construction
FRAME
Heating
NONE
Stories
4
Total area
54,668 SF
Lot
2.51 ac (109,292 SF)
Zoning code
B1
APN
40-017-073.0-002.10
UPID
US73-0657798
Jurisdiction
ERIE
Zoning & alternative use
B1 · Erie, PAZoning B1 · permitted uses
B1 · Erie, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$1.0M
HOTEL/MOTEL Current
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
1998
Construction
FRAME
Heating
NONE
Stories
4
Lot
2.51 ac
Current owner
From public records · entity-resolved
Widewaters Edr Erie Hotel Co L
Entity
Mailing address
5786 WIDEWATERS PKWY, SYRACUSE, NY 13214-1865
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
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
Aug 24, 2022
—
Widewaters Brittonfield II Erie Hot
—
Deed
related
—
Nov 6, 2017
—
Widewaters Brittonfield II Eri
—
Grant Deed
related
$26,700,000 · Northwest Bk
Dec 3, 2007
—
Brittonfield Widewaters II
—
Deed Of Trust
related
$8,550,000 · Column Financial INC
Aug 24, 2006
$7,670,000
Widewaters Edr Erie Hotel Co L
Erie Hotel 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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