Painesville Warehouse For
444 Newell Street Painesville, OH 44077
For Sale
Contact for pricing
8,199 sqft warehouse available for purchase in Painesville, OH.
Property Size8,199 SF
Price / SF$85.38
Days on Market1086
Property Features for 444 Newell Street
General Information
- Standard status
- Active
- Size
- 8,199 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1980
Listing Agency:
Hanna Commercial Real Estate Cleveland
(216) 861-7200
Listed By:
Gregory B. West · License #OH SAL.2001014166
Source:
Crexi
Added: Aug 4, 2023
Changed: Jul 6
Last Checked: Jul 23 at 10:53AM
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.
An 8,199 square foot warehouse property is available for sale. The property is located on Newell Street in Painesville, Ohio.
Key Highlights
- YearBuilt: 1980
Financial Insights For Warehouse
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 | $46.8k | $5.71 |
| − Vacancy | −$1.7k | −$0.21 |
| EGI | $45.1k | $5.50 |
| − OpEx | −$6.8k | −$0.82 |
| NOI | $38.3k | $4.67 |
8,199 SF · lease $5.71/SF/yr · vacancy 3.70% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$547.4K
$479.0K – $638.7K
NOI $38,321 @ 7.0% cap · market cap 5.47%
Second Best
Industrial
$450.8K
$394.5K – $526.0K
NOI $31,559 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$1.89M
$1.66M – $2.21M
NOI $132,557 @ 7.0% cap · market cap 18.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Warehouses
Similar Off Market Nearby
- Welcome to Lake County Mini Storage — 44 Stage Ave, Painesville, OH 44077
- Blackbrook Self Storage — 352 Blackbrook Rd, Painesville, OH 44077
FAQs
What type of property is this?
Warehouse - 8,199 sqft warehouse available for purchase in Painesville, OH.
Where is this warehouse located?
The property is located at 444 Newell Street Painesville, OH.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: YearBuilt: 1980
