255 Newell Street, Painesville, OH 44077
Freestanding industrial building offering a practical footprint for light manufacturing or warehouse use.
- Added:
- Jun 5, 2026
- Days on Market:
- 17
- Last Refresh:
- Jun 17 at 2:56 am
Property Features for 255 Newell Street
General Information
- Standard status
- Active
- Size
- 7,500 SF
- Property subtype
- Industrial
Listing agent Bob Biggar License #OH
Listing office Hanna Commercial Real Estate Cleveland
Listing date Jun 5, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of Hanna Commercial Real Estate Cleveland
HighLights
- Freestanding industrial building with a 7,500 SF footprint
- Practical layout suited for light manufacturing or warehouse use
Overview
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.
Local 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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Painesville
- County
- Lake
- State
- Ohio
- Longitude
- -81.2649946
- Latitude
- 41.7159657
