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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Retail space
2205 Rdg Rd Painesville, OH 44077-4824
Individually Owned
6-yr Hold
Property ID
US66-0771072
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2019
Construction
WOOD
Total area
8,972 SF
Lot
2.15 ac (93,480 SF)
Zoning code
I-2
APN
11-B-035-0-00-001-0
UPID
US66-0771072
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
by Request
Comparable Approach
Comparable
$538k
Blend (final)
Blend
$750k
Owner & transaction history
Exchange Right Net Leased Portfolio · 6 yrs held
Exchange Right Net Leased Portfolio
since 2019
5 recorded transactions
Zoning & alternative use
I-2 · Painesville, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$795,000
+129.5%
Auto repair, garage
$750,000
+117.0%
Medical building
$630,000
+82.1%
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 Painesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Painesville 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$795,000
Change: +129% · Conversion: Easy
AUTO REPAIR, GARAGE
$750,000
Change: +117% · Conversion: Difficult
MEDICAL BUILDING
$630,000
Change: +82% · Conversion: Difficult
COMMERCIAL (GENERAL)
$545,000
Change: +57% · Conversion: Easy
WAREHOUSE, STORAGE
$510,000
Change: +46% · Conversion: Difficult
Blend value · Realmo final
$750k
Range $675k – $825k · ±10%
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
$84 / 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
$41,623
Tax year 2023
Assessed value
$521,440
Assessed 2023
Previous assessed
$521,440
+0.0% YoY
Effective rate
7.98%
On assessed value
Assessed land
$35,000
Assessed improvement
$486,440
Land market value
$100,000
Improvement market value
$1,389,830
Total market value
$1,489,830
Applied tax rate
11.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2019
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
8,972 SF
Lot
2.15 ac (93,480 SF)
Zoning code
I-2
APN
11-B-035-0-00-001-0
UPID
US66-0771072
Jurisdiction
LAKE
Zoning & alternative use
I-2 · Painesville, OH
Zoning I-2 · permitted uses
I-2 · Painesville, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Painesville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$795,000
AUTO REPAIR, GARAGE
Est. value
$750,000
MEDICAL BUILDING
Est. value
$630,000
COMMERCIAL (GENERAL)
Est. value
$545,000
WAREHOUSE, STORAGE
Est. value
$510,000
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
2019
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.15 ac
Current owner
From public records · entity-resolved
Exchange Right Net Leased Portfolio
Individual
Mailing address
1055 E COLORADO BLVD STE #310, PASADENA, CA 91106-2374
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 9, 2019
$1,489,900
Exchange Right Net Leased Portfolio
Painesville Ridge Bts Retail LLC
Warranty Deed
$62,527,000 · Morgan Stanley Bank NA
Mar 25, 2019
$130,000
Painesville Ridge Bts Retail LLC
2205 North Ridge LLC
Warranty Deed
$1,165,224 · Mb Financial Bank NA
Nov 16, 2017
—
2205 North Ridge LLC
Morgan,lawrence J & Lisa M
Warranty Deed
—
Jul 26, 2004
$78,200
Lawrence J Morgan
Square Trust
Grant Deed
—
Apr 7, 2004
—
Enterprise Gas Lake County
—
Deed Of Trust
related
$13,000,000 · Fifth Third Bank Western Mi
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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