Freestanding Industrial
For Sale
Contact for pricing
255 Newell Street, Painesville, OH 44077
Freestanding industrial building offering a practical footprint for light manufacturing or warehouse use.
Property Size7,500 SF
Price / SF$46
Days on Market62
Property Features for 255 Newell Street
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Industrial
Listing Agency:
Hanna Commercial Real Estate Cleveland
Listed By:
Bob Biggar · License #OH
Source:
Crexi
Added: Jun 5
Changed: Jul 10
Last Checked: Aug 5 at 11:51AM
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 Hanna Commercial Real Estate Cleveland
Investment Insights
Based on property information with market context.
The property is a freestanding industrial building totaling 7,500 square feet. It is offered for sale as an independent structure, providing a straightforward layout suitable for a range of industrial and flex-style requirements.
The building is located at 255 Newell Street in Painesville, Ohio. As a standalone industrial asset, it offers direct building identity for tenants or owners seeking independence from multi-tenant configurations.
For buyers or operators, this size can support warehouse storage, light industrial activity, or flexible workspace needs where an entire building footprint is advantageous. Its freestanding nature can also simplify day-to-day logistics compared with shared industrial facilities.
The building is located at 255 Newell Street in Painesville, Ohio. As a standalone industrial asset, it offers direct building identity for tenants or owners seeking independence from multi-tenant configurations.
For buyers or operators, this size can support warehouse storage, light industrial activity, or flexible workspace needs where an entire building footprint is advantageous. Its freestanding nature can also simplify day-to-day logistics compared with shared industrial facilities.
Key Highlights
- Freestanding industrial building with a 7,500 SF footprint
- Practical layout suited for light manufacturing or warehouse use
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.8k | $5.71 |
| − Vacancy | −$1.6k | −$0.21 |
| EGI | $41.2k | $5.50 |
| − OpEx | −$12.4k | −$1.65 |
| NOI | $28.9k | $3.85 |
7,500 SF · lease $5.71/SF/yr · vacancy 3.70% · expense 30.00%
Alternative Uses
Best Use
Industrial
$412.4K
$360.9K – $481.1K
NOI $28,868 @ 7.0% cap · market cap 8.37%
Second Best
Flex RnD
$402.4K
$352.1K – $469.5K
NOI $28,168 @ 7.0% cap · market cap 8.16%
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,256 @ 7.0% cap · market cap 35.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44077, OH
58,253
Population
24,928
Households
2.3
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
60.5 sq mi
ZIP Area
963
Density / Sq Mi
$80,692
Median Household Income
$45,315
Median Earnings
$972
Median Rent
$217,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Freestanding industrial building offering a practical footprint for light manufacturing or warehouse use.
Where is this flex space located?
The property is located at 255 Newell Street Painesville, OH.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Freestanding industrial building with a 7,500 SF footprint; Practical layout suited for light manufacturing or warehouse use
