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Property profile & analytics
OFF-MARKET
Estimated value
$8,635,000
Warehouses
Freedom Rd Painesville, OH 44077
Entity Owned
9-yr Hold
Free & Clear
Property ID
US66-3967750
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2016
Total area
153,534 SF
Lot
36.47 ac (1,588,590 SF)
Zoning code
I2
APN
11-B-063-0-00-015-0
UPID
US66-3967750
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
$11.04M
Comparable Approach
Comparable
$9.14M
Blend (final)
Blend
$8.64M
Owner & transaction history
LUBRIZOL CORP
LUBRIZOL CORP
Zoning & alternative use
I2 · Painesville, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$13.6M
+56.7%
Auto repair, garage
$12.9M
+48.1%
Medical building
$10.8M
+24.3%
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%
$11,960,000
6.5%
$11,040,000
7%
$10,250,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$8,690,000
Current use
OFFICE BUILDING
$13,615,000
Change: +57% · Conversion: Difficult
AUTO REPAIR, GARAGE
$12,870,000
Change: +48% · Conversion: Easy
MEDICAL BUILDING
$10,805,000
Change: +24% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,315,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$8.64M
Range $7.77M – $9.50M · ±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
$56 / 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
$147,566
Tax year 2023
Assessed value
$1,824,810
Assessed 2023
Previous assessed
$1,824,810
+0.0% YoY
Effective rate
8.09%
On assessed value
Assessed land
$121,020
Assessed improvement
$1,703,790
Land market value
$345,780
Improvement market value
$4,867,980
Total market value
$5,213,760
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2016
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
11
Total area
153,534 SF
Lot
36.47 ac (1,588,590 SF)
Zoning code
I2
APN
11-B-063-0-00-015-0
UPID
US66-3967750
Jurisdiction
LAKE
Zoning & alternative use
I2 · Painesville, OH
Zoning I2 · permitted uses
I2 · 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
$8.7M
OFFICE BUILDING
Est. value
$13.6M
AUTO REPAIR, GARAGE
Est. value
$12.9M
MEDICAL BUILDING
Est. value
$10.8M
COMMERCIAL (GENERAL)
Est. value
$9.3M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
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
2016
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
11
Lot
36.47 ac
Current owner
From public records · entity-resolved
LUBRIZOL CORP
Entity
Free & Clear · 0 yrs held
Mailing address
29400 LAKELAND BLVD, WICKLIFFE, OH 44092-2201
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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