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Property profile & analytics
OFF-MARKET
Estimated value
$1,695,000
Manufacturing properties
608 State St Painesville, OH 44077
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US66-2605278
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1970
Total area
9,600 SF
Lot
4.26 ac (185,348 SF)
Zoning code
R-1
APN
15-B-014-0-00-001-0
UPID
US66-2605278
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
$1.70M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.70M
Owner & transaction history
Pearllahan LLC · 2 yrs held
Pearllahan LLC
since 2024
Last sale
$1.7M
7 recorded transactions
Zoning & alternative use
R-1 · Painesville, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
R-1 Single Family Residential R1-60 Single Family Residential R-2 Multi-Family Residential B-1 Business/Residential B-2 General Business B-3 Central Business DD Downtown Development M-1 Light Industrial M-2 Industrial Zoning Overlays: Design Districts, Historic Districts, PUD For more detail regarding zoning regulations for each district, see
Zone name
Single Family Residential
General category
RESIDENTIAL
Zone area
1,625.15 ac
Source
Painesville, OH
Top alternative use upside
Restaurant
$1.7M
+313.9%
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
$1,695,000
ML approach
$1,695,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,735,000
Change: +314% · Conversion: Difficult
Blend value · Realmo final
$1.70M
Range $1.53M – $1.86M · ±10% · vs last sale $1.70M (Jan 5 2024)
Last sale anchor
$1.70M
Jan 5 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
$177 / 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
$75,176
Tax year 2023
Assessed value
$749,160
Assessed 2023
Previous assessed
$749,160
+0.0% YoY
Effective rate
10.03%
On assessed value
Assessed land
$59,120
Assessed improvement
$690,040
Land market value
$168,910
Improvement market value
$1,971,530
Total market value
$2,140,440
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1970
Heating
FORCED AIR
Buildings
3
Stories
1
Total area
9,600 SF
Lot
4.26 ac (185,348 SF)
Zoning code
R-1
APN
15-B-014-0-00-001-0
UPID
US66-2605278
Jurisdiction
LAKE
Zoning & alternative use
R-1 · Painesville, OHZoning R-1 · permitted uses
R-1 · Painesville, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
R-1 Single Family Residential R1-60 Single Family Residential R-2 Multi-Family Residential B-1 Business/Residential B-2 General Business B-3 Central Business DD Downtown Development M-1 Light Industrial M-2 Industrial Zoning Overlays: Design Districts, Historic Districts, PUD For more detail regarding zoning regulations for each district, see
Zone name
Single Family Residential
General category
RESIDENTIAL
Zone area
1,625.15 ac
Source
Painesville, OH
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$1.7M
RESTAURANT
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
1970
Heating
FORCED AIR
Stories
1
Buildings
3
Lot
4.26 ac
Current owner
From public records · entity-resolved
Pearllahan LLC
Entity
Mailing address
12 GRANDVIEW CIR, CANONSBURG, PA 15317-8533
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 27, 2026
—
Pearllahan LLC
—
Deed
related
$1,500,000
Sep 25, 2024
—
Pearllahan LLC
—
Deed
related
$1,050,000 · Eriebank
Jan 5, 2024
$1,695,900
Pearllahan LLC
State Street Development LLC
Limited Warranty Deed
$1,487,500 · Eriebank
Apr 2, 2012
—
State Street Dev LLC
Jbh Properties INC
Grant Deed
—
Aug 3, 2000
—
J B H Properties INC
J B H Properties INC
Quit Claim Deed
related
$2,413,000 · Firstmerit Bank NA
Jul 21, 2000
—
J B H Properties INC
High Tech Performance Trailers
Quit Claim Deed
related
—
Jun 7, 2000
—
J B H Properties INC
Painesville City (oh)
Quit Claim Deed
related
—
Jun 5, 2000
$50,000
High Tech Performance Trailers
Coe Manufacturing Co
Trustees Deed
—
Jun 5, 2000
—
High Tech Performance Trailers
Painesville City (ohio)
Trustees Deed
related
—
—
—
Jbh Properties INC
—
Deed Of Trust
related
$1,000,000 · Lake County Small Business
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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