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Property profile & analytics
OFF-MARKET
Estimated value
$2,015,000
Garden apartment buildings
8946 Main St Mc Kean, PA 16426-1461
Entity Owned
10-yr Hold
Free & Clear
Property ID
US73-4243154
Property summary
AI-generated overview
This exceptional 72-unit apartment building, known as Middleboro Commons, presents a compelling investment opportunity. Located in McKean, Pennsylvania, within Erie County, this property boasts 15,000 square feet situated on a 2.5-acre lot. The building comprises 34 units, each featuring two bedrooms and 1.5 bathrooms, with an average size of 1,150 square feet. Constructed in 2014, Middleboro Commons is exceptionally well-maintained and currently operating at full capacity, eliminating the need for immediate capital expenditures. The property's prime location in the Erie suburbs ensures strong rental demand and consistent cash flow. This is a turnkey investment ready to generate immediate returns. The asking price for this exceptional multifamily asset is $5,400,000. Additional properties are available for purchase individually or as a portfolio. The portfolio includes two other properties, totaling 72 units, offering a significant scale of investment. This presents a rare opportunity to acquire a substantial, high-performing multifamily portfolio in a desirable location. Detailed financial information and property specifics are available upon request.
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2016
Construction
FRAME
Total area
23,104 SF
Lot
2.28 ac (99,317 SF)
Zoning code
B
APN
32-004-004.0-010.00
UPID
US73-4243154
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
-
Middleboro Commons Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.19M
Comparable Approach
Comparable
$1.63M
Blend (final)
Blend
$2.02M
Owner & transaction history
Tw Properties LLC · 10 yrs held
Tw Properties LLC
since 2016
4 recorded transactions
Zoning & alternative use
B · Mc Kean, 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 Mc Kean submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mc Kean 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%
$2,365,000
6.5%
$2,185,000
7%
$2,030,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,035,000
Current use
OFFICE BUILDING
$1,755,000
Change: -14% · Conversion: Moderate
RESTAURANT
$1,695,000
Change: -17% · Conversion: Difficult
RETAIL STORES
$1,655,000
Change: -19% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,635,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$2.02M
Range $1.81M – $2.22M · ±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
$87 / 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
$33,420
Tax year 2023
Assessed value
$1,562,400
Assessed 2024
Previous assessed
$1,562,400
+0.0% YoY
Effective rate
2.14%
On assessed value
Assessed land
$155,100
Assessed improvement
$1,407,300
Land market value
$155,100
Improvement market value
$1,407,300
Total market value
$1,562,400
Applied tax rate
32.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2016
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
3
Stories
2
Rooms
6
Bathrooms
1
Total area
23,104 SF
Lot
2.28 ac (99,317 SF)
Zoning code
B
APN
32-004-004.0-010.00
UPID
US73-4243154
Jurisdiction
ERIE
Zoning & alternative use
B · Mc Kean, PAZoning B · permitted uses
B · Mc Kean, 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.8M
RESTAURANT
Est. value
$1.7M
RETAIL STORES
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
RESTAURANT
RETAIL STORES
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
2016
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
3
Rooms
6
Bathrooms
1
Lot
2.28 ac
Current owner
From public records · entity-resolved
Tw Properties LLC
Entity
Free & Clear · 10 yrs held
Mailing address
109 E 10TH ST, ERIE, PA 16501-1213
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2016
—
Tw Properties LLC
Middleboro Commons LLC
Grant Deed
related
—
May 5, 2015
—
Middleboro Commons LLC
Middleboro Commons LLC
Quit Claim Deed
related
$1,900,000 · First Nat'l Bk/pa
May 1, 2015
$33,000
Middleboro Commons LLC
Tw Properties LLC
Grant Deed
—
Oct 16, 2012
$6,000
Tw Properties LLC
Scouten Rose M
Grant Deed
$10,000 · Bruce Scouten
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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