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

    168 E High St Painesville, OH 44077

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    High-profile corner lot office building in downtown Painesville.

    Property size:
    3,619 SF
    Lot size:
    6,686.00 Acres

    Property Features for 168 E High St

    General Information

    Standard status
    Active
    Size
    3,619 SF
    Lot size
    6,686.00 Acres

    We can help!

    Listing Contact
    Frank Slemc
    Source: Crexi

    Listing Agency: CENTURY 21 Asa Cox Homes Listing Agent: Frank Slemc

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

    Learn more

    Overview

    Downtown Painesville Commercial Office Building

    This commercial office building is situated on a high-profile corner lot in downtown Painesville, Ohio, near county offices. The property, formerly the Ralph Buss Attorney Offices, features multiple private offices, a conference room, and bathrooms. Basement and attic space provide storage options. The 3,619 square foot building is suitable for a single business owner or an investor interested in leasing individual offices. This property presents an opportunity to establish a presence in Painesville's growing downtown area.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Painesville
    County
    Lake
    State
    Ohio
    Longitude
    -81.2397756
    Latitude
    41.7234152

    Nearby Similar for Sale

    • $699,900
      0.53 Acres

      Distinctive Commercial Building on Mentor Avenue

      High-visibility commercial building in Painesville with B1 and B2 zoning.
      1100 Mentor Ave, Painesville, OH 44077
      View Details
    • $250,000
      6.76 Acres

      Established Auto Business Assets For Sale

      Profitable auto business assets for sale in Painesville, Ohio.
      12010 Girdled Rd, Painesville, OH 44077
      View Details
    • $149,000
      0.10 Acres

      Painesville Historic Building For Sale

      Historic 2-story building, formerly a bar/restaurant, on 0.10 acres.
      367 N State St, Painesville, OH 44077
      View Details
    • Contact for pricing

      Retail Building with Warehouse Space

      Retail building with warehouse, showroom, and fenced yard.
      1650 Mentor Ave, Painesville, OH 44077
      View Details
    • $149,000
      6,778 SF

      Painesville Retail Building - Prime Location

      Historic Downtown Retail Space, Renovation Opportunity
      367 State St, Painesville, OH 44077
      View Details
    • Contact for pricing
      3,154 SF

      Retail Building on Mentor Avenue

      Retail building with available space on a 0.34-acre lot.
      1630 Mentor Ave, Painesville, OH 44077
      View Details
    • Contact for pricing
      1,412 SF

      Retail Facility Near Chesapeake Cove

      Retail facility for sale near Chesapeake Cove development.
      2025 Mentor Ave, Painesville, OH 44077
      View Details
    • $699,000
      0.14 Acres

      Downtown Painesville Commercial Gem

      Historic Building, High Potential
      170-174 Main St, Painesville, OH 44077
      View Details
    • $175,000
      2,990 SF

      Painesville Church Building - Huge Potential

      Versatile building, ideal for community use.
      105 Kenilworth Ave, Painesville, OH 44077
      View Details
    • $149,000
      4,308 SF

      Historic Mixed-Use Building in Painesville

      Historic mixed-use building in downtown Painesville, Ohio, ready for renovation.
      367 North State St, Painesville, OH 44077
      View Details
    • Contact for pricing
      5,991 SF

      Retail Space on Mentor Avenue

      5,991 SqFt retail space available for sale.
      1778 Mentor Ave, Painesville, OH 44077
      View Details
    • $195,850
      1,800 SF

      Painesville Business Property - Great Potential

      Former gas station, now auto repair shop, 3 bays.
      2606 Riverside Dr, Painesville, OH 44077
      View Details

    FAQs

    What type of property is this?
    Office building - High-profile corner lot office building in downtown Painesville.
    Where is this office building located?
    The property is located at 168 E High St Painesville, OH.
    What are key features of this property?
    This property features: - High-profile corner lot location in downtown Painesville.; - Steps from county offices.; - Multiple private offices and a conference room.
    Request Owner's contact information
    168 E High St Painesville, OH 44077
    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.
    168 E High St
    Painesville, OH 44077
    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
    168 E High St Painesville, OH 44077
    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

    We can help!
    Listing Contact
    Frank Slemc
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!