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    Property profile & analytics

    382 Blackbrook Rd Painesville, OH 44077-1294

    • Office buildings
    • 9,188 SF
    • 1.00 lot acres
    OFF-MARKET
    Value Estimation
    $345,000
    Last Sale
    Feb 20, 2025
    Location Intelligence
    Property ID
    US66-0211387
    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

    • Office buildings

    Property Details for 382 Blackbrook Rd

    Year built
    1998
    Construction
    WOOD
    Lot size
    1.00 lot acres
    Property size
    9,188 SF
    Property type
    Office buildings
    APN
    11-B-064-A-00-023-0
    APU
    11B064A000230

    Description

    This exceptional investment opportunity presents a 9,188-square-foot, single-tenant medical office and pharmacy building located at 382 Blackbrook Rd, Painesville, OH 44077. The property, built in 1998 and renovated in 2024, sits on a one-acre lot and boasts 32 parking spaces. Currently 100% occupied by Bloom Medicinals, a franchisee with a proven track record, the property features a long-term, double-net (NN) lease with a remaining term of approximately 3.6 years. The lease commenced July 1, 2018, and expires June 30, 2028, with built-in 3% annual rent increases. The asking price is $1,250,000, representing a price per square foot of $136.05 and a compelling 9.71% cap rate based on a Net Operating Income (NOI) of $121,400. The property is zoned for commercial use and benefits from excellent visibility and access. The lease includes two 5-year renewal options, providing long-term stability and predictable income growth. This Class A property offers a secure investment with a strong tenant and significant upside potential. The property's location in Lake County, Ohio, provides easy access to major transportation routes. This is a rare opportunity to acquire a high-performing, stabilized investment in a growing market.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $315,000

    • CAP approach

      CAP return
      Estimation
      6%
      $420,000
      6.5%
      $420,000
      7%
      $460,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $465,000
      Geo Method
      $490,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $385,000
      Retail
      $385,000
      Mixed-Use
      $400,000
      Hospitality
      $410,000
      Educational
      $505,000
      Residential Income
      $425,000
      Energy
      $400,000
      Income-Based Land
      $450,000
      Food Service
      $390,000

    Location Insight

    • Map
    • Local Demand
    City
    Painesville
    County
    Lake
    State
    Ohio
    Longitude
    -81.2822
    Latitude
    41.7239
    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
    $16,998
    $34,300
    $176,290
    $210,590
    -
    $98,010
    $503,680
    $601,690

    Comparable in this City

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    • Value Estimation by Request
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      166 Main St

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    • Value Estimation
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      1656 Mentor Ave

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    • Value Estimation
      $515,000
      8,718 SF

      1701 Mentor Ave

      OFFICE BUILDING • 8,718 SF
      1701 Mentor Ave, Painesville, OH 44077-1459
      View Details
    • Value Estimation
      $285,000
      8,012 SF

      7466 Auburn Rd

      OFFICE BUILDING • 8,012 SF
      7466 Auburn Rd, Concord Township, OH 44077-6700
      View Details

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    382 Blackbrook Rd
    Painesville, OH 44077-1294
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    Realmo Value Estimation

    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.

    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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