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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Warehouses
302 Water St Kent, OH 44240-2423
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US66-1604278
Property summary
AI-generated overview
This exceptional 11,000 square foot industrial property, located at 302 N Water St in Kent, Portage County, offers a unique blend of warehouse and flex space. Built in 1950, this single-tenant building sits on a 0.391-acre lot and is classified as Class B. The property features a highly visible street-level storefront on a heavily traveled thoroughfare, providing excellent exposure for any business. Its convenient location within the Commercial Downtown zoning district (C-D) places it minutes from State Route 43, the heart of downtown Kent, and Kent State University. The property's single-story design maximizes efficiency and accessibility. The building's APN is 17-025-30-00-031-000. This versatile space is ideal for a variety of uses and presents a significant opportunity for businesses seeking a prominent location with ample square footage. The property is situated within the designated DORA (Designated Outdoor Refreshment Area) boundaries, adding to its appeal and potential. This is a rare opportunity to acquire a well-positioned industrial property in a thriving area. The building consists of one structure with no additional suites.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1950
Total area
11,244 SF
Lot
0.39 ac (16,893 SF)
APN
17-025-30-00-031
UPID
US66-1604278
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
Current use
Occupant on record · Public records
-
Record Nations Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$467k
Blend (final)
Blend
$505k
Owner & transaction history
Red Rooster Real Estate 3 LLC · 1 yrs held
Red Rooster Real Estate 3 LLC
since 2024
Last sale
$595,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Kent submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kent 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
WAREHOUSE, STORAGE
$715,000
Current use
COMMERCIAL (GENERAL)
$665,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $595k (Sep 30 2024)
Last sale anchor
$595k
Sep 30 2024
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
$45 / 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
$8,049
Tax year 2023
Assessed value
$116,840
Assessed 2023
Previous assessed
$116,840
+0.0% YoY
Effective rate
6.89%
On assessed value
Assessed land
$28,600
Assessed improvement
$88,240
Land market value
$81,700
Improvement market value
$252,100
Total market value
$333,800
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1950
Heating
NONE
Cooling
YES
Stories
1
Total area
11,244 SF
Lot
0.39 ac (16,893 SF)
APN
17-025-30-00-031
UPID
US66-1604278
Jurisdiction
PORTAGE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$715,000
COMMERCIAL (GENERAL)
Est. value
$665,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
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
1950
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
Red Rooster Real Estate 3 LLC
Entity
Mailing address
1333 GREENWOOD AVE, KENT, OH 44240-6307
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2024
$595,000
Red Rooster Real Estate 3 LLC
Janet L Rhoads
Deed
$446,250 · Five Points Bank Of Hastings
—
—
Richard E Rhoads
—
Deed Of Trust
related
$50,000 · Home Savings Bank Fsb
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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