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    367 State St Painesville, OH 44077

    Sponsored
    For Sale
    $149,000

    Historic Downtown Retail Space, Renovation Opportunity

    Property size:
    6,778 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional 6,778 square foot retail building presents a unique investment opportunity in the heart of Painesville, Ohio. Located at 367 N State Street, this historic two-story structure, built in 1900, boasts prominent frontage along N. State Street. The property sits on a 0.1-acre lot and offers a partial basement. Previously used as a bar/restaurant, the building is currently gutted to the 2x4 studs, providing a blank canvas for a complete renovation. All utilities are available on-site, though upgrades are required. A significant feature is the existing kitchen hood, which could be incorporated into a future restaurant or food-service concept. The wood-frame construction offers character and charm, while the substantial square footage allows for diverse redevelopment possibilities. This property is ideal for an investor seeking a high-impact project in a desirable downtown location. The building's history and prime location offer significant potential for a strong return on investment. The extensive renovation required presents an opportunity to create a truly unique and modern space tailored to the needs of a new business. The existing infrastructure, including utilities and the kitchen hood, provides a solid foundation for a variety of commercial uses. This is a rare chance to acquire a piece of Painesville's history and shape its future.

    Property Features for 367 State St

    General Information

    Property type
    Retail properties
    Square Feet
    6,778 SF
    Lot Size
    4,356 SF

    Building Details

    Year Built
    1900
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail properties

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Painesville
    County
    Lake
    State
    Ohio
    Longitude
    -81.2456
    Latitude
    41.73194

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    FAQs

    What type of property is this?
    Retail property - Historic Downtown Retail Space, Renovation Opportunity
    Where is this retail property located?
    The property is located at 367 State St Painesville, OH.
    What is the asking price?
    The asking price for this property is $149,000.
    (440) 255-5500
    Request Owner's contact information
    367 State St Painesville, OH 44077
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    Painesville, OH 44077
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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
    367 State St Painesville, OH 44077
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