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    Property profile & analytics

    150 Main St Painesville, OH 44077-3403

    • Super regional malls
    • 3,618 SF
    • 0.02 lot acres
    OFF-MARKET
    Value Estimations
    $195,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1650219
    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.

    Current Use by Public Records

    • Super regional malls

    Property Details for 150 Main St

    Year built
    1900
    Lot size
    0.02 lot acres
    Property size
    3,618 SF
    Zone code
    B-3
    Property type
    Super regional malls
    APN
    15-B-001-B-00-027-0
    APU
    15B001B000270

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Painesville
    County
    Lake
    State
    Ohio
    Longitude
    -81.2421
    Latitude
    41.7254
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH 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
    $2,628
    $5,730
    $20,850
    $26,580
    -
    $16,370
    $59,560
    $75,930

    Comparable in this City

    • Value Estimation
      $740,000
      70,724 SF

      1585 Mentor Ave

      REGIONAL SHOPPING CENTER, MALL • 70,724 SF
      1585 Mentor Ave, Painesville, OH 44077-1706
      View Details
    • Value Estimation
      $300,000
      10,417 SF

      800 Bowhall Rd

      REGIONAL SHOPPING CENTER, MALL • 10,417 SF
      800 Bowhall Rd, Painesville, OH 44077
      View Details
    • Value Estimation by Request
      64,460 SF

      1441 Mentor Ave, Unit 1535

      SHOPPING CENTER, STRIP CENTER • 64,460 SF
      1441 Mentor Ave, Painesville, OH 44077-1801
      View Details
    • Value Estimation by Request
      0.26 Acres

      Mentor Ave

      SHOPPING CENTER, STRIP CENTER • 0.26 Acres
      Mentor Ave, Painesville, OH 44077
      View Details
    • Value Estimation by Request
      5,026 SF

      255-259 Richmond St

      SHOPPING CENTER, STRIP CENTER • 5,026 SF
      255-259 Richmond St, Painesville, OH 44077
      View Details
    • Value Estimation
      $230,000
      10,483 SF

      1506 Mentor Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 10,483 SF
      1506 Mentor Ave, Painesville, OH 44077-1705
      View Details

    Similar Nearby for Sale

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      Versatile Commercial Space with Apartments

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    • $149,000
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      Painesville Retail Building - Prime Location

      Historic Downtown Retail Space, Renovation Opportunity
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    • $595,000
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      Retail Building with Warehouse Space

      Retail building with warehouse, showroom, and fenced yard.
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    • Contact for pricing
      21,694 SF

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      Recently remodeled 21,694 SF auto dealership near major retailers.
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    Similar Nearby for Lease

    • Contact for pricing
      8,119 SF

      Painesville Retail Space For Rent

      Retail space available in Painesville, high-traffic location.
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    • Contact for pricing
      4,750 SF

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      Retail spaces available near Lake County Fairgrounds on Route 20.
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      4,750 SF

      Crystal Plaza Retail Space Available

      Prime Painesville Retail Space - High Traffic Location
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      3,200 SF

      Restaurant Space in Retail Node

      Former restaurant build-out in a master-planned retail location.
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      Former Gas Station Retail Space

      980 SF retail space available for sublease in Painesville.
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    • Contact for pricing
      1,450 SF

      Retail Space on Fredle Drive

      Retail space available on Fredle Drive, Painesville, OH.
      7530-7596 Fredle Dr, Painesville, OH 44077
      View Details
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    150 Main St
    Painesville, OH 44077-3403
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    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.

    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
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