Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space with Vault Features Title is generated by Realmo AI

    30 South Park Place, Painesville, OH 44077

    View on Map
    Claim this Listing
    For Lease
    $168 SF/Yr

    Newly renovated retail space inside a historic tower setting within Lake Erie College student housing.

    Type:SCR-COM
    Added:
    May 27, 2026
    Days on Market:
    10
    Last Refresh:
    Jun 5 at 2:18 am

    Property Features for 30 South Park Place

    General Information

    Standard status
    Active
    Property subtype
    SCR-COM

    Building Details

    Year Built
    1957

    Spaces For Lease

    at 30 South Park Place Contact us

    We can help!

    Listing Contact
    Rick Osborne Jr.
    Rick Osborne Jr.

    Listing agent Rick Osborne Jr. License #2010001710

    Listing office Keller Williams Realty Greater Cleveland Northeast

    Listing date May 27, 2026

    Source Realnex

    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 Keller Williams Realty Greater Cleveland Northeast

    HighLights

    • Newly renovated retail space inside a historic tower setting within Lake Erie College student housing
    • Historic building built in 1957
    • Property includes unique bank vault features
    • Flexible lease configuration: build to suit and will divide
    • Square footage is estimated

    Overview

    This newly renovated retail space is located within the historic Painesville Tower and includes unique bank vault features. The property is offered with build-to-suit flexibility and the ability to divide, allowing for customization to support a range of retail concepts or dining setups. The space is positioned as a modern interior within a landmark building, balancing updated condition with distinctive historic character.

    The location is described as being within Lake Erie College’s student housing, placing the opportunity in a built-in resident environment. Additional context in the remarks highlights the building’s downtown presence and visibility, reinforcing that the storefront experience is a key component of the offering.

    For tenants and operators seeking a distinctive, renovated retail setting, this space offers a starting point for a boutique retail shop or a restaurant concept, with the option for build-to-suit and subdivision to accommodate different layouts. The vault feature and historic tower setting may suit uses that benefit from character-rich interiors and a strong on-site audience. If you’re evaluating space that can be tailored to your program, the property’s stated flexibility and newly renovated condition make it a practical option to review.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Painesville
    County
    Lake
    State
    Ohio
    Longitude
    -83.1359959
    Latitude
    40.1664219

    Nearby Similar for Lease

    • $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
    • $15 SF/Yr

      Downtown Painesville Office Space

      Office space in a vibrant, accessible downtown Painesville location.
      100 S Park Place, Painesville, OH 44077
      View Details
    • $18 SF/Yr
      1,660 SF

      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
      1,600 SF

      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
      1,266 SF

      Retail Space Near Route 2

      Retail space available in Painesville, near Route 2.
      255 Richmond St, Painesville, OH 44077
      View Details
    • Contact for pricing
      3,900 SF

      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
      5,652 SF

      Painesville Office Space Available

      Office space available for rent in Painesville, Ohio.
      8 N State St, Painesville, OH 44077
      View Details
    • Contact for pricing
      3,200 SF

      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
      6,921 SF

      Class A Office Building

      Class A office building with suites available for rent.
      56 Liberty St., Painesville, OH, 44077
      View Details
    • Contact for pricing
      4,750 SF

      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
      8,119 SF

      Painesville Retail Space For Rent

      Retail space available in Painesville, high-traffic location.
      6640-6644 Rogers Rd, Painesville, OH
      View Details
    • Contact for pricing
      4,100 SF

      Retail/Restaurant Space with Patio

      Up to 4,100 SF retail or restaurant space for rent.
      257 S Main St, Painesville, OH
      View Details

    FAQs

    What type of property is this?
    Retail space - Newly renovated retail space inside a historic tower setting within Lake Erie College student housing.
    Where is this retail space located?
    The property is located at 30 South Park Place Painesville, OH.
    What is the lease rate?
    The lease rate is $168 SF/Yr.
    What are key features of this property?
    This property features: Newly renovated retail space inside a historic tower setting within Lake Erie College student housing; Historic building built in 1957; Property includes unique bank vault features
    (440) 299-5190
    We can help!
    Listing Contact
    Rick Osborne Jr.
    Rick Osborne Jr.
    Real Estate License ID: 2010001710
    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

    Thank You for Inquiry
    30 South Park Place, Painesville, OH 44077
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!