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    8 N State St Painesville, OH 44077

    For Lease
    $13 SF/Yr

    Restaurant and office suites available in revitalized downtown Painesville.

    Property size:
    35,422 SF
    Lot size:
    35,422 SF

    Property Features for 8 N State St

    General Information

    Size
    35,422 SF

    Building Details

    Year built
    1967

    Source: Nichole Booker, PhD Agent Nichole Booker, PhD

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Painesville Redevelopment Opportunity

    Located on the corner of State and Main Street, 8 N State Street, formerly the KeyBank building, is undergoing redevelopment as part of the revitalization of historic downtown Painesville. Marous Development Group is transforming the property into a ground-level restaurant and three floors of modern office suites. The property is situated in the heart of historic downtown Painesville, at the intersection of South and Main. The expansive former bank space on the first floor is suitable for a restaurant or distillery, offering up to 6,500 square feet. A tenant improvement allowance and leasing package are available. Modern office suites ranging from 800 to 11,500 square feet are available on the 4th Floor. Built-to-suit suites and competitive lease rates are offered. On-site parking is available. The property is adjacent to the new Grand River Walk mixed-use development project and within the new Hillside Entertainment District. Multiple building upgrades are planned, and a shared break room/lounge and future fitness center are planned.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    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
    -81.2411902
    Latitude
    41.7263073

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    FAQs

    What type of property is this?
    Office space - Restaurant and office suites available in revitalized downtown Painesville.
    Where is this office space located?
    The property is located at 8 N State St Painesville, OH.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: - Prime location in the heart of historic downtown Painesville at the intersection of State & Main Street.; - Anchor restaurant space available on the ground floor (up to 6,500 SF) with attractive TI Allowance and leasing package.; - Modern office suites available (800 RSF to 11,500 RSF) with built-to-suit options and competitive lease rates.
    (330) 475-5500
    Request Owner's contact information
    8 N 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
    8 N State St Painesville, OH 44077
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