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    170-174 Main St Painesville, OH 44077

    For Sale
    $699,000

    Historic Building, High Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    309
    This exceptional commercial property, located at 170-174 Main Street in the heart of Painesville, Ohio, presents a unique investment opportunity. Spanning approximately 12,000 square feet on a 0.14-acre lot, this historic building offers a blend of existing income and significant redevelopment potential. Currently, a portion of the building is leased, while other areas are ready for renovation. The third floor comprises three apartments, with an additional space suitable for a fourth apartment or expansion of an existing unit. The second floor, currently configured for commercial office space, has city approval for conversion into residential apartments and awaits rehabilitation. The first floor provides retail commercial space ripe for renovation. A full basement offers considerable versatility for future development. Prospective buyers can view the first and second floors, as well as the basement, upon request. Access to the third-floor apartments is available with a Letter of Intent. This property's prime downtown location, combined with its substantial size and diverse possibilities, makes it an attractive proposition for investors seeking a high-return project in a vibrant Ohio community. The asking price is $699,000.

    Property Features for 170-174 Main St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    6,098 SF

    Building Details

    Year Built
    1880
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Painesville
    County
    Lake
    State
    Ohio
    Longitude
    -81.2416
    Latitude
    41.72572

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    FAQs

    What type of property is this?
    Commercial real estate - Historic Building, High Potential
    Where is this commercial real estate located?
    The property is located at 170-174 Main St Painesville, OH.
    What is the asking price?
    The asking price for this property is $699,000.
    (440) 639-0002
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    170-174 Main St Painesville, OH 44077
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