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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Manufacturing properties
55 Florence Ave Painesville, OH 44077-1103
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US66-0171336
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1990
Total area
12,688 SF
Lot
2.34 ac (101,930 SF)
APN
11-B-069-0-00-012-0
UPID
US66-0171336
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
$725k
CAP Approach
CAP
$750k
Comparable Approach
Comparable
$718k
Blend (final)
Blend
$740k
Owner & transaction history
Srmmdm LLC · 3 yrs held
Srmmdm LLC
since 2023
Last sale
$749,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+103.2%
Auto repair, garage
$1.1M
+92.1%
Medical building
$895,000
+61.2%
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
$810,000
ML approach
$725,000
CAP Approach
CAP Return
Estimation
6%
$815,000
6.5%
$750,000
7%
$700,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$555,000
Current use
OFFICE BUILDING
$1,125,000
Change: +103% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,065,000
Change: +92% · Conversion: Easy
MEDICAL BUILDING
$895,000
Change: +61% · Conversion: Difficult
COMMERCIAL (GENERAL)
$770,000
Change: +39% · Conversion: Difficult
WAREHOUSE, STORAGE
$720,000
Change: +30% · Conversion: Easy
RETAIL STORES
$490,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$740k
Range $666k – $814k · ±10% · vs last sale $749k (Feb 13 2023)
Last sale anchor
$749k
Feb 13 2023
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
$58 / 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
$11,559
Tax year 2023
Assessed value
$139,040
Assessed 2023
Previous assessed
$139,040
+0.0% YoY
Effective rate
8.31%
On assessed value
Assessed land
$34,190
Assessed improvement
$104,850
Land market value
$97,690
Improvement market value
$299,570
Total market value
$397,260
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1990
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
12,688 SF
Lot
2.34 ac (101,930 SF)
APN
11-B-069-0-00-012-0
UPID
US66-0171336
Jurisdiction
LAKE
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
INDUSTRIAL (GENERAL) Current
Est. value
$555,000
OFFICE BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$895,000
COMMERCIAL (GENERAL)
Est. value
$770,000
WAREHOUSE, STORAGE
Est. value
$720,000
RETAIL STORES
Est. value
$490,000
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
RETAIL STORES
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
1990
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.34 ac
Current owner
From public records · entity-resolved
Srmmdm LLC
Entity
Mailing address
55 FLORENCE AVE, PAINESVILLE, OH 44077-1103
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2023
$749,000
Srmmdm LLC
Master Carbide Tools Company
Warranty Deed
$400,000 · Us Bank NA
Feb 13, 2023
—
Master Carbide Tools Company
Venetian Investments LLC
Correction Deed
related
—
Aug 24, 2020
$455,559
Mastertech Diamond Products Co
Mastertech Diamond Roducts Co
Warranty Deed
related
—
Jul 21, 2017
$425,000
Venetian Investments LLC
Ttmach LLC
Warranty Deed
$340,000 · Fifth Third Bank
May 20, 2005
$435,000
Ttmach LLC
Nelson Properties LLC
Warranty Deed
$217,500 · Huntington National Bank
Apr 27, 2005
—
Nelson Properties LLC
Nelson Properties LLC
Quit Claim Deed
related
—
—
—
Nelson Properties LLC
—
Deed Of Trust
related
$320,000 · National City Bank
—
—
Ttmach LLC
—
Deed Of Trust
related
$50,000 · Huntington National Bank
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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