170-174 Main St Painesville, OH 44077

Property Details for 170-174 Main St

Year built

1880

Lot size

0.14 lot acres

Property type

Commercial real estate

Description

This exceptional commercial property, located at 170-174 Main Street in the heart of Painesville, Ohio, presents a unique investment opportunity. Spanning approximately 12,000 square feet on a 0.14-acre lot, this historic building offers a blend of existing income and significant redevelopment potential. Currently, a portion of the building is leased, while other areas are ready for renovation. The third floor comprises three apartments, with an additional space suitable for a fourth apartment or expansion of an existing unit. The second floor, currently configured for commercial office space, has city approval for conversion into residential apartments and awaits rehabilitation. The first floor provides retail commercial space ripe for renovation. A full basement offers considerable versatility for future development. Prospective buyers can view the first and second floors, as well as the basement, upon request. Access to the third-floor apartments is available with a Letter of Intent. This property's prime downtown location, combined with its substantial size and diverse possibilities, makes it an attractive proposition for investors seeking a high-return project in a vibrant Ohio community. The asking price is $699,000.

Location Insight

City

Painesville

County

Lake

State

Ohio

Longitude

-81.2416

Latitude

41.7257