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161 E Washington St
Painesville, OH 44077
Office Property For Sale
INVESTMENT HIGHLIGHTS
- Downtown Painesville City
- 3+ Years left on current lease
- Brick Structure
EXECUTIVE SUMMARY
Excellent investment opportunity in the heart of Painesville City! This well-maintained 1,260 sq. ft. freestanding brick and block commercial building located at 161 E. Washington Street offers exceptional visibility and accessibility. Currently utilized as a medical office, the property features gas forced-air heat and central air, a 10-year-old rubber roof, flexible interior space suitable for a variety of professional uses. A long-term tenant is already in place, providing consistent income with approximately 3.5 years remaining on the lease. This is the perfect property for an investor seeking immediate returns or for an owner-user planning for the future while letting the building pay for itself in the meantime. Offered at $150,000.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Building Size
1,260 SF
Building Class
C
Year Built
1969
Price
$207,375 CAD
Price Per SF
$164.58 CAD
Cap Rate
10%
NOI
$20,738 CAD
Percent Leased
100%
Building Height
1 Story
Typical Floor Size
1,260 SF
Building FAR
0.58
Lot Size
0.05 AC
Opportunity Zone
Yes
Zoning
B-4
Parking
8 Spaces (6.35 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 15-B-001-A-00-004 | Improvements Assessment | $32,028 CAD |
| Land Assessment | $2,355 CAD | Total Assessment | $34,383 CAD |
PROPERTY TAXES
Parcel Number
15-B-001-A-00-004
Land Assessment
$2,355 CAD
Improvements Assessment
$32,028 CAD
Total Assessment
$34,383 CAD
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