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    Property profile & analytics

    218 Main St Painesville, OH 44077-3810

    • Warehouses
    • 2,092 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    3.4%
    Warehouses
    Location Intelligence
    Property ID
    US66-0646918
    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

    • Warehouses

    Property Details for 218 Main St

    Year built
    1963
    Construction
    WOOD
    Lot size
    0.08 lot acres
    Property size
    2,092 SF
    Zone code
    B-3
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    15-B-001-C-00-018-0
    APU
    15B001C000180

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $176,000
      Market price range: $63.9k - $177k

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

    Location Insight

    • Map
    • Local Demand
    City
    Painesville
    County
    Lake
    State
    Ohio
    Longitude
    -81.2406
    Latitude
    41.7261
    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
    $4,190
    $7,860
    $34,480
    $42,340
    -
    $22,470
    $98,510
    $120,980

    Comparable in this City

    • Value Estimation
      $390,000
      20,200 SF

      715 Lakeshore Blvd

      MINI-WAREHOUSE, STORAGE • 20,200 SF
      715 Lakeshore Blvd, Painesville, OH 44077-1125
      View Details
    • Value Estimation
      $200,000
      3,200 SF

      7395 Painesville Ravenna Rd

      MINI-WAREHOUSE, STORAGE • 3,200 SF
      7395 Painesville Ravenna Rd, Concord Township, OH 44077-8928
      View Details
    • Value Estimation
      $220,000
      1,920 SF

      701 High St

      MINI-WAREHOUSE, STORAGE • 1,920 SF
      701 High St, Fairport Harbor, OH 44077-5514
      View Details
    • Value Estimation
      $210,000
      3,668 SF

      124 State St

      MINI-WAREHOUSE, STORAGE • 3,668 SF
      124 State St, Painesville, OH 44077-3425
      View Details
    • Value Estimation
      $215,000
      19,000 SF

      352 Blackbrook Rd

      MINI-WAREHOUSE, STORAGE • 19,000 SF
      352 Blackbrook Rd, Painesville, OH 44077-1217
      View Details
    • Value Estimation
      $235,000
      7,823 SF

      342 Blackbrook Rd

      MINI-WAREHOUSE, STORAGE • 7,823 SF
      342 Blackbrook Rd, Painesville, OH 44077-1217
      View Details

    Similar Nearby for Sale

    • $575,000
      4.45 Acres

      Painesville Warehouse - $575K

      Industrial building, 21,046 sq ft, 4.45 acres
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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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    • $700,000
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      Prime Painesville Warehouse - 8,199 SF

      Exceptional Painesville industrial warehouse for sale.
      444 Newell St, Painesville, OH 44077
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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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    • $525,000
      21,326 SF

      Industrial Building with Warehouse Space

      21,046 SF industrial building with warehouse and office space.
      466 W Jackson St, Painesville, OH 44077
      View Details
    • Contact for pricing
      8,199 SF

      Freestanding Industrial Building For Sale

      8,199 SF industrial building on 1 AC, built in 1980.
      444 Newell St, Painesville, OH 44077
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,205 SF

      Painesville Retail Warehouse Space

      Lake County retail warehouse, 2 suites available.
      8023 Crile Rd, Painesville, OH 44077
      View Details
    • $11 SF/Yr
      4,000 SF

      Prime Concord Office Space

      4,000 SF Available, Lake County
      7757 Auburn Rd, Painesville, OH 44077
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    • Contact for pricing
      980 SF

      Former Gas Station Retail Space

      980 SF retail space available for sublease in Painesville.
      8 E Erie St, Painesville, OH 44077
      View Details
    • 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
    • Contact for pricing
      5,400 SF

      Retail Space on Mentor Avenue

      Retail space with excellent visibility and ample parking.
      1935-1945 Mentor Ave, Painesville, OH 44077
      View Details
    • 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
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    218 Main St
    Painesville, OH 44077-3810
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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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