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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Parking lots & garages
71 State St, Painesville, OH 44077-3405
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US66-2190258
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1945
Total area
8,034 SF
Lot
1 ac (43,560 SF)
Zoning code
B-3
APN
15-B-001-0-00-010-0
UPID
US66-2190258
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
$501k
Blend (final)
Blend
$505k
Owner & transaction history
J & C St Street Prop LLC · 8 yrs held
J & C St Street Prop LLC
since 2018
4 recorded transactions
Zoning & alternative use
B-3 · Painesville, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$710,000
+71.7%
Auto repair, garage
$675,000
+62.3%
Medical building
$565,000
+36.2%
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
PARKING LOT
$415,000
Current use
OFFICE BUILDING
$710,000
Change: +72% · Conversion: Difficult
AUTO REPAIR, GARAGE
$675,000
Change: +62% · Conversion: Difficult
MEDICAL BUILDING
$565,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$490,000
Change: +17% · Conversion: Difficult
WAREHOUSE, STORAGE
$455,000
Change: +10% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$350,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$505k
Range $455k – $556k · ±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
$63 / 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
$8,148
Tax year 2023
Assessed value
$80,650
Assessed 2023
Previous assessed
$80,650
+0.0% YoY
Effective rate
10.10%
On assessed value
Assessed land
$28,060
Assessed improvement
$52,590
Land market value
$80,180
Improvement market value
$150,260
Total market value
$230,440
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1945
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
6
Bathrooms
1
Total area
8,034 SF
Lot
1 ac (43,560 SF)
Zoning code
B-3
APN
15-B-001-0-00-010-0
UPID
US66-2190258
Jurisdiction
LAKE
Zoning & alternative use
B-3 · Painesville, OH
Zoning B-3 · permitted uses
B-3 · 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
PARKING LOT Current
Est. value
$415,000
OFFICE BUILDING
Est. value
$710,000
AUTO REPAIR, GARAGE
Est. value
$675,000
MEDICAL BUILDING
Est. value
$565,000
COMMERCIAL (GENERAL)
Est. value
$490,000
WAREHOUSE, STORAGE
Est. value
$455,000
INDUSTRIAL (GENERAL)
Est. value
$350,000
PARKING LOT Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
INDUSTRIAL (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
1945
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
6
Bathrooms
1
Lot
1 ac
Current owner
From public records · entity-resolved
J & C St Street Prop LLC
Entity
Mailing address
71 S STATE ST, PAINESVILLE, OH 44077-3405
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
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
Jun 7, 2018
—
J & C St Street Prop LLC
Federico,james A & Mary M
Warranty Deed
—
Oct 2, 2017
—
James A Federico
—
Deed
related
$100,000 · Keybank USA
—
—
James A Federico
—
Deed Of Trust
related
$90,000 · Key Bank & Trust
—
—
James A Federico
—
Deed Of Trust
related
$100,000 · Keybank USA
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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