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Property profile & analytics
OFF-MARKET
Estimated value
$945,000
Garden apartment buildings
9860 Lk Rd, Lake City, PA 16423-1903
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US73-0344293
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1950
Construction
FRAME
Total area
13,008 SF
Lot
3.57 ac (155,335 SF)
Zoning code
R2
APN
24-004-007.0-010.01
UPID
US73-0344293
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.23M
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$945k
Owner & transaction history
Country Gables LLC · 1 yrs held
Country Gables LLC
since 2024
Last sale
$950,000
7 recorded transactions
Zoning & alternative use
R2 · Lake City, 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 Lake City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake City 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%
$1,330,000
6.5%
$1,230,000
7%
$1,140,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,145,000
Current use
OFFICE BUILDING
$990,000
Change: -14% · Conversion: Moderate
RESTAURANT
$955,000
Change: -17% · Conversion: Difficult
RETAIL STORES
$930,000
Change: -19% · Conversion: Difficult
AUTO REPAIR, GARAGE
$920,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$945k
Range $851k – $1.04M · ±10% · vs last sale $950k (Apr 12 2024)
Last sale anchor
$950k
Apr 12 2024
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
$73 / 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
$12,239
Tax year 2023
Assessed value
$450,800
Assessed 2024
Previous assessed
$450,800
+0.0% YoY
Effective rate
2.71%
On assessed value
Assessed land
$89,200
Assessed improvement
$361,600
Land market value
$89,200
Improvement market value
$361,600
Total market value
$450,800
Applied tax rate
24.0000
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
1950
Construction
FRAME
Heating
NONE
Stories
4
Total area
13,008 SF
Lot
3.57 ac (155,335 SF)
Zoning code
R2
APN
24-004-007.0-010.01
UPID
US73-0344293
Jurisdiction
ERIE
Zoning & alternative use
R2 · Lake City, PA
Zoning R2 · permitted uses
R2 · Lake City, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.1M
OFFICE BUILDING
Est. value
$990,000
RESTAURANT
Est. value
$955,000
RETAIL STORES
Est. value
$930,000
AUTO REPAIR, GARAGE
Est. value
$920,000
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
1950
Construction
FRAME
Heating
NONE
Stories
4
Lot
3.57 ac
Current owner
From public records · entity-resolved
Country Gables LLC
Entity
Mailing address
13050 E OLD PLANK RD, WATERFORD, PA 16441-8878
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2024
$950,000
Country Gables LLC
Joseph B Spero
Deed
$961,431 · Gregory Sesler
Oct 16, 2015
$34,480
Paul H Nazarian
Sheriff Of Erie County|russell,david W & Amy J H
Trustees Deed
—
Sep 21, 2009
$485,000
David W Russell
Carpenter,g
Grant Deed
$363,000 · Northwest Savings Bank
—
—
Paul H Nazarian
—
Deed Of Trust
related
$120,000 · Linda J Melaragno
—
—
David W Russell
—
Deed Of Trust
related
$300,000 · Patricia A Nazarian
—
—
David L Carpenter
—
Deed Of Trust
related
$245,000 · Eriebank
—
—
David L Carpenter
—
Deed Of Trust
related
$300,000 · National City Bank Pennsylvani
—
—
David L Carpenter
—
Deed Of Trust
related
$45,000 · National City Bank Pennsylvani
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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