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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Warehouses
437 Prospect St Painesville, OH 44077-3269
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US66-4932886
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Construction
WOOD
Total area
11,600 SF
Lot
2.26 ac (98,446 SF)
Zoning code
M-2
APN
15-C-028-B-00-011-0
UPID
US66-4932886
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
$760k
Blend (final)
Blend
$585k
Owner & transaction history
Path Walnut Properties LLC · 17 yrs held
Path Walnut Properties LLC
since 2008
4 recorded transactions
Zoning & alternative use
M-2 · Painesville, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$970,000
+48.1%
Medical building
$815,000
+24.3%
Commercial (general)
$705,000
+7.2%
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
WAREHOUSE, STORAGE
$655,000
Current use
AUTO REPAIR, GARAGE
$970,000
Change: +48% · Conversion: Easy
MEDICAL BUILDING
$815,000
Change: +24% · Conversion: Difficult
COMMERCIAL (GENERAL)
$705,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$585k
Range $527k – $644k · ±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
$50 / 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
$15,303
Tax year 2023
Assessed value
$151,810
Assessed 2023
Previous assessed
$151,810
+0.0% YoY
Effective rate
10.08%
On assessed value
Assessed land
$58,320
Assessed improvement
$93,490
Land market value
$166,620
Improvement market value
$267,110
Total market value
$433,730
Applied tax rate
15.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Buildings
2
Stories
1
Total area
11,600 SF
Lot
2.26 ac (98,446 SF)
Zoning code
M-2
APN
15-C-028-B-00-011-0
UPID
US66-4932886
Jurisdiction
LAKE
Zoning & alternative use
M-2 · Painesville, OH
Zoning M-2 · permitted uses
M-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
WAREHOUSE, STORAGE Current
Est. value
$655,000
AUTO REPAIR, GARAGE
Est. value
$970,000
MEDICAL BUILDING
Est. value
$815,000
COMMERCIAL (GENERAL)
Est. value
$705,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1999
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Stories
1
Buildings
2
Lot
2.26 ac
Current owner
From public records · entity-resolved
Path Walnut Properties LLC
Entity
Mailing address
5815 LK RD, MENTOR ON THE LAKE, OH 44060-3103
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 18, 2008
—
Path Walnut Properties LLC
David A Princic
Warranty Deed
$304,000 · Rbs Citizens NA
Sep 18, 2008
$405,000
David A Princic
Sheriff Of Lake County
Trustees Deed
related
—
May 19, 2005
—
American Property Group LLC
Terra Quest Dev Corp
Quit Claim Deed
related
—
Jul 23, 2003
—
Terra Quest Development Corp
Sceranka,donald J
Grant Deed
related
—
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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