Industrial Warehouse
559 Bank St Painesville, OH 44077
559 Bank St, Painesville, OH, 44077
Contact for pricing
For Sale
Contact for pricing
Industrial facility with warehouse space, mezzanine area, small office, and multiple loading doors and indoor docks.
Property Size43,200 SF
Lot Size4.31 Acres
Price / SF$69.44
Days on Market69
Property Features for 559 Bank St
General Information
- Standard status
- Active
- Size
- 43,200 SF
- Lot size
- 4.31 Acres
- Property subtype
- INDUSTRIAL
Listing agency
Global Real Estate Advisors
(440) 283-5143
Listed by
Timothy Sawicki
(440) 283-5143
Source
Moodyscre
Added: May 15 Updated: Jul 22 at 12:42PM Checked: Jul 22 at 12:42PM
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 Global Real Estate Advisors
Investment Insights
Based on property information with market context.
This multi-parcel industrial facility totals approximately 43,200 square feet, including a 32,200 square foot warehouse, a 10,800 square foot mezzanine, and about 200 square feet of office space. Improvements include a dry sprinkler system, radiant tube heating, and metal-halide and T8 lighting. Power service is listed as 600 amp, 480 volt, 3-phase and 200 amp, 240 volt, 3-phase. Clear ceiling heights range from 18 feet to 38.4 feet, and the facility includes multiple cranes with a 10-ton, 3-ton, and jib crane.
Loading and access are supported by two indoor docks sized 20 feet by 25 feet and five drive-in doors sized 17 feet by 15 feet.
The property is zoned M-2 (Industrial) and is described as located in Painesville, with power supplied by the City of Painesville.
Loading and access are supported by two indoor docks sized 20 feet by 25 feet and five drive-in doors sized 17 feet by 15 feet.
The property is zoned M-2 (Industrial) and is described as located in Painesville, with power supplied by the City of Painesville.
Key Highlights
- 43,200± SF total industrial facility with 32,200± SF warehouse and 10,800± SF mezzanine
- 200± SF office included
- 4.31± acres across three parcels zoned M‑2, industrial
Local 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 | $246.7k | $5.71 |
| − Vacancy | −$9.1k | −$0.21 |
| EGI | $237.5k | $5.50 |
| − OpEx | −$35.6k | −$0.82 |
| NOI | $201.9k | $4.67 |
43,200 SF · lease $5.71/SF/yr · vacancy 3.70% · expense 15.00%
Alternative Uses
Best Use
Office B
$7.82M
$6.84M – $9.12M
NOI $547,147 @ 7.0% cap · market cap 18.24%
Second Best
Warehouse
$2.88M
$2.52M – $3.37M
NOI $201,913 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$9.98M
$8.73M – $11.64M
NOI $698,434 @ 7.0% cap · market cap 23.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
Similar Off Market Nearby
- Park Place Storage — 61 E Washington St, Painesville, OH 44077
- Storage Rentals of America — 649 Hoyt St, Painesville, OH 44077
FAQs
What type of property is this?
Warehouse - Industrial facility with warehouse space, mezzanine area, small office, and multiple loading doors and indoor docks.
Where is this warehouse located?
The property is located at 559 Bank St Painesville, OH.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 43,200± SF total industrial facility with 32,200± SF warehouse and 10,800± SF mezzanine; 200± SF office included; 4.31± acres across three parcels zoned M‑2, industrial
