450 Chester St Painesville, OH 44077-4167
This exceptional investment property, located at 450 Chester Street in Painesville, Ohio, presents a unique opportunity for a savvy buyer. Situated on a 0.22-acre lot, this building offers significant potential for redevelopment. Its prime location places it just minutes from the bustling city center, ensuring high visibility and convenient access for potential customers. The existing structure is ideally suited for a restaurant or bar and grill, boasting a layout that's ready for immediate use. All necessary equipment, tables, and chairs are included in the sale, representing a significant cost savings for the new owner. While the building requires some cosmetic updates and renovations, the inherent value and prime location make this a compelling investment. The asking price of $150,000 reflects the need for improvements, offering a substantial return on investment for the right buyer with a vision. The property's versatility allows for a range of potential uses beyond food service, making it an attractive option for entrepreneurs seeking a high-traffic location. Don't miss this chance to acquire a property with immense potential in a thriving Ohio city. Serious inquiries are encouraged.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
B-4 · Painesville, OHCosts & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.