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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1547 Mentor Ave Painesville, OH 44077-1706

    • Car washes
    • 2,925 SF
    • 0.83 lot acres
    OFF-MARKET
    Value Estimations
    $290,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0107450
    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

    • Car washes

    Property Details for 1547 Mentor Ave

    Year built
    2005
    Lot size
    0.83 lot acres
    Property size
    2,925 SF
    Zone code
    B-3
    Property type
    Car washes
    APN
    11-A-011-0-00-015-0
    APU
    11A0110000150

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $348,000
      Market price range: $150k - $349k
      AI Estimate
      $261,000
      Market price range: $45.2k - $261k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $245,000
      Current use
      OFFICE BUILDING
      $260,000
      Change: +6% Conversion: Difficult
      MEDICAL BUILDING
      $205,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Painesville
    County
    Lake
    State
    Ohio
    Longitude
    -81.2774
    Latitude
    41.6987
    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
    $12,261
    $88,790
    $61,740
    $150,530
    -
    $253,690
    $176,410
    $430,100

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      Mentor Ave

      CAR WASH • 0.09 Acres
      Mentor Ave, Painesville, OH 44077
      View Details
    • Value Estimation
      $250,000
      2,220 SF

      1572 Mentor Ave

      CAR WASH • 2,220 SF
      1572 Mentor Ave, Painesville, OH 44077-1705
      View Details
    • Value Estimation
      $3,290,000
      3,300 SF

      461 Richmond St

      CAR WASH • 3,300 SF
      461 Richmond St, Painesville, OH 44077-3036
      View Details
    • Value Estimation
      $220,000
      1,182 SF

      460 Richmond St

      CAR WASH • 1,182 SF
      460 Richmond St, Painesville, OH 44077-3071
      View Details
    • Value Estimation
      $230,000
      2,791 SF

      1922 Rdg Rd

      CAR WASH • 2,791 SF
      1922 Rdg Rd, Painesville, OH 44077-4851
      View Details
    • Value Estimation
      $195,000
      0.09 Acres

      7 State St

      PARKING GARAGE, PARKING STRUCTURE • 0.09 Acres
      7 State St, Painesville, OH 44077
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      21,694 SF

      Remodeled Auto Dealership Near Retail

      Recently remodeled 21,694 SF auto dealership near major retailers.
      2115 Mentor Ave, Painesville, OH 44077
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    • $649,000
      10,458 SF

      Painesville Auto Shop - $649K

      Prime Auto Shop, High Traffic Area
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    • $250,000
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      Established Auto Business Assets For Sale

      Profitable auto business assets for sale in Painesville, Ohio.
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    • $160,000
      0.38 Acres

      Painesville Commercial Property For Sale

      Commercial property with B-3 zoning, suitable for office or retail.
      10 Palmer Ave, Painesville, OH 44077
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    • $149,000
      0.10 Acres

      Painesville Historic Building For Sale

      Historic 2-story building, formerly a bar/restaurant, on 0.10 acres.
      367 N State St, Painesville, OH 44077
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    • Contact for pricing
      4.81 Acres

      Prime Painesville Redevelopment Opportunity

      4.81-acre commercial land, two buildings.
      1025/1083 Mentor Ave, Painesville, OH 44077
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    Similar Nearby for Lease

    • Contact for pricing
      980 SF

      Former Gas Station Retail Space

      980 SF retail space available for sublease in Painesville.
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    • Contact for pricing
      2,010 SF

      Retail Space Near Interstate 90

      Retail spaces available in new development near Interstate 90.
      7861 Crile Rd, Painesville, OH 44077
      View Details
    • $13 SF/Yr
      35,422 SF

      Downtown Painesville Redevelopment Opportunity

      Restaurant and office suites available in revitalized downtown Painesville.
      8 N State St, Painesville, OH 44077
      View Details
    • Contact for pricing
      4,750 SF

      Crystal Plaza Retail Space Available

      Prime Painesville Retail Space - High Traffic Location
      1623 Mentor Ave, Painesville, OH 44077
      View Details
    • Contact for pricing
      1,340 SF

      Painesville Retail Space - Mentor Ave

      Prime Painesville retail space, 1340 sq ft.
      1640 Mentor Ave, Painesville, OH 44077
      View Details
    • $504 /Mo
      150 SF

      Prime Painesville Executive Office Suite

      1,000 SF Office, High Visibility, I-90 Access
      7466 Auburn Rd, Painesville, OH 44077
      View Details
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    1547 Mentor Ave
    Painesville, OH 44077-1706
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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.

    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
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