Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    257 S Main St Painesville, OH

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Up to 4,100 SF retail or restaurant space for rent.

    Type:RETAIL
    Property size:
    4,100 SF
    Lot size:
    3.04 Acres
    Added:
    Apr 11, 2025
    Days on Market:
    384
    Last Refresh:
    Apr 5 at 8:14 pm

    Property Features for 257 S Main St

    General Information

    Standard status
    Active
    Size
    4,100 SF
    Lot size
    3.04 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 257 S Main St Contact us

    We can help!

    Listing Contact
    Nichole Booker, PhD

    Listing agent Nichole Booker, PhD

    Listing office SVN Summit Commercial Real Estate Advisors

    Listing date Apr 11, 2025

    Source Moodyscre

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

    All listing content including descriptions, pricing, images are the copyrighted material of SVN Summit Commercial Real Estate Advisors

    Overview

    Retail/Restaurant Space with Patio

    This property offers retail or restaurant space up to 4,100 square feet. A restaurant space opens to a rear patio that overlooks the river and park. The rear patio provides access to a new amphitheater, which hosts live music and community events. The property is part of a building that includes 110 luxury apartments above the retail space. Future developments include a new $2 million amphitheater planned for 2025-26, along with a new splash park, dog park, revamped skate park, and baseball and soccer fields. These enhancements are intended to create a vibrant nightlife atmosphere and diverse recreational amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Lake Erie College Metz Culinary Management — 391 W Washington St, Painesville, OH 44077

    Location Insight

    • Map
    • Local Demand
    City
    Painesville
    County
    Lake
    State
    Ohio
    Longitude
    -81.2396
    Latitude
    41.7267

    Nearby Similar for Lease

    • $2,000/Mo

      Downtown Painesville Commercial Storefront Opportunity

      1675 SF commercial space in revitalizing downtown Painesville.
      154 Main Street, Painesville, OH 44077
      View Details
    • $14 SF/Yr

      Historic Painesville Tower Retail Space

      Newly renovated retail space in historic downtown Painesville.
      30 S Park Place, Painesville, OH 44077
      View Details
    • $13 SF/Yr

      Downtown Painesville Redevelopment Opportunity

      Restaurant and office suites available in revitalized downtown Painesville.
      8 N State St, Painesville, OH 44077
      View Details
    • $18 SF/Yr

      Painesville Office Space For Rent

      1,660 SF office space in a highly visible location.
      8003-8007 Auburn Rd, Painesville, OH
      View Details
    • $12 SF/Yr

      Move-In Ready Office Space

      1,600 sq ft Class B office space for lease.
      368 Blackbrook Rd, Painesville, OH
      View Details
    • Contact for pricing

      Painesville Office Space Available

      Office space available for rent in Painesville, Ohio.
      8 N State St, Painesville, OH 44077
      View Details
    • Contact for pricing

      Restaurant Space in Retail Node

      Former restaurant build-out in a master-planned retail location.
      7641-7657 Crile Rd, Painesville, OH
      View Details
    • Contact for pricing

      Retail Space on Mentor Avenue

      Retail spaces available near Lake County Fairgrounds on Route 20.
      1605-1625 Mentor Ave, Painesville, OH
      View Details
    • Contact for pricing

      Class A Office Building

      Class A office building with suites available for rent.
      56 Liberty St., Painesville, OH, 44077
      View Details
    • Contact for pricing

      Painesville Retail Space For Rent

      Retail space available in Painesville, high-traffic location.
      6640-6644 Rogers Rd, Painesville, OH
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, offering 3,900 sqft in Painesville, OH.
      370 Blackbrook Rd, Painesville, OH 44077
      View Details
    • Contact for pricing

      Downtown Painesville Mixed-Use Development

      Mixed-use development in historic Downtown Painesville with retail and apartments.
      New Mixed-Use Development, Painesville, OH
      View Details

    FAQs

    What type of property is this?
    Restaurant - Up to 4,100 SF retail or restaurant space for rent.
    Where is this restaurant located?
    The property is located at 257 S Main St Painesville, OH.
    What are key features of this property?
    This property features: Restaurant space up to 4,100 SF with rear patio overlooking the river and park.; Rear patio access to a new amphitheater hosting live music and community events.; Location within a building containing 110 luxury apartments.
    (330) 475-5500 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Nichole Booker, PhD
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!