Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Perry Hwy Erie, PA 16509
    Back to Search
    Property profile & analytics

    Perry Hwy, Erie, PA 16509

    View on Map
    • Warehouses
    • 7,728 SF
    • 9.52 lot acres
    Off-Market
    Last Sale Aug 26, 2024
    $90,000
    Property ID
    US73-4239488
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for Perry Hwy

    Year built
    1959
    Construction
    FRAME
    Lot size
    9.52 lot acres
    Zone code
    A1
    Property type
    Warehouses
    APN
    40-022-096.0-001.02
    APU
    40022096000102

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 26, 2024 $90,000 James Bartholomew Judith L Chiamardas Warranty Deed —
    Mar 29, 2022 — Judith L Chamardis Judith L Chamardas Intrafamily Transfer · related —
    Feb 24, 2014 — David W Hess Hess,david W Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.017
    Latitude
    42.0387
    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
    $1,170
    $3,300
    $14,925
    $18,225
    -
    $32,400
    $14,925
    $47,325

    Comparable in this City

    • Value Estimation by Request
      1,728 SF

      1351 Grandview Blvd

      WAREHOUSE, STORAGE
      1351 Grandview Blvd, Erie, PA 16509-1265
      View Details
    • Value Estimation by Request
      4,836 SF

      4837 Pittsburgh Ave

      WAREHOUSE, STORAGE
      4837 Pittsburgh Ave, Erie, PA 16509-6205
      View Details
    • Value Estimation
      $865,000
      19,480 SF

      4727 Pittsburgh Ave

      WAREHOUSE, STORAGE
      4727 Pittsburgh Ave, Erie, PA 16509-6203
      View Details
    • Value Estimation
      $645,000
      10,400 SF

      8900 Old French Rd

      WAREHOUSE, STORAGE
      8900 Old French Rd, Erie, PA 16509-5470
      View Details
    • Value Estimation
      $1,375,000
      46,847 SF

      9031 Peach St

      WAREHOUSE, STORAGE
      9031 Peach St, Erie, PA 16509
      View Details
    • Value Estimation by Request
      1,944 SF

      8721 Peach St

      WAREHOUSE, STORAGE
      8721 Peach St, Erie, PA 16509-4736
      View Details

    Similar Nearby for Sale

    • $529,900
      Pending

      Erie Commercial Building with Garage

      Three-story commercial building with storage and office space on 5+ acres.
      3003 Flower Rd, Erie, PA 16509
      View Details
    • $529,900
      Pending

      Erie Commercial Building with Garage

      Three-story commercial building with storage and office space on 5+ acres.
      3003 Flower Rd, Erie, PA 16509
      View Details
    • Contact for pricing
      26,348 SF

      Former Nursing Home Opportunity

      26,348 SF building near Millcreek Mall, suitable for various uses.
      1267 S Hill Rd, Erie, PA 16509
      View Details
    • Contact for pricing

      2.49 Acre Commercial Land Available

      2.49 acre lot next to Wendy's off I-90.
      Wager Rd, Erie, PA 16509
      View Details
    • Contact for pricing
      Pending

      Erie, PA Corner Building Lot

      Corner lot in Summit Township with utilities available for new home.
      Melvin Rd, Erie, PA 16509
      View Details
    • Contact for pricing
      0.71 Acres

      Erie, PA Zoned RMD Land

      0.71 acre lot zoned for multiple residential uses.
      8180 Edinboro Rd, Erie, PA 16509
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Multi-Tenant Property with I-90 Access

      Multi-tenant property with high-bay unit and drive-through doors.
      5060 Wattsburg Rd, Erie, PA 16509
      View Details
    • Contact for pricing
      1,206 SF

      Retail Space on Rotunda Drive

      Retail space available in Erie, PA with high traffic.
      1901-1909 Rotunda Dr, Erie, PA 16509
      View Details
    • Contact for pricing
      30,068 SF

      Retail Space on Keystone Drive

      Retail property with high traffic and strong demographics.
      1914-1930 Keystone Dr, Erie, PA 16509
      View Details
    • $15 SF/Yr
      865 SF

      Erie Commercial Space For Lease

      Commercial space for lease in modern living community.
      2890 Copperleaf Pl, Erie, PA 16509
      View Details
    • Contact for pricing
      2,705 SF

      Commercial Space in Copperleaf Community

      Adaptable commercial spaces available for lease in modern living community.
      2890 Copperleaf Dr, Erie, PA 16509
      View Details
    • $15 SF/Yr
      975 SF

      Erie Commercial Space For Lease

      Commercial space for lease in modern living community development.
      2890 Copperleaf Pl, Erie, PA 16509
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Perry Hwy
    Erie, PA 16509
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Perry Hwy, Erie, PA, 16509
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!