- For Sale $1,150,000
- Property Type Industrial - Flex - Industrial
- Property Size 26,720 SF
- Units 21
- Lot Size 1.61 Acre
- Property Tenancy Multi-Tenant
- Building Class C
- Year Built 1973
- Date Updated Aug 3, 2026
- HVAC None
Description
Situated in Painesville's industrial corridor, offering easy access to SR-2, I-90, and major transportation routes.Multi-tenant industrial value-add investment in Painesville’s established corridor. Comprising 26,720 SF across 21 flexible units, the property offers a diversified tenant base with significant rental upside. The asset is 71% occupied, primarily by long-term, month-to-month tenants with below-market rents. This flexible structure offers an investor immediate opportunity to stabilize, lease vacancy, and drive the asset toward a ±10% pro-forma Cap Rate. Situated on 1.61 acres with a 23,400+ SF paved lot for ample parking. Ideal for portfolio investors or owner-users. Easy access to SR-2 & I-90.
Highlights
- 26,720 SF Multi-Tenant Industrial Asset: Comprising 21 flexible, highly functional units with a diversified user base.
- Expansive 1.61-Acre Lot: Features over 23,400 SF of asphalt paving, offering excellent parking and outdoor staging capacity.
- Immediate Value-Add / Rental Upside: Currently 71% occupied, primarily by long-term, month-to-month tenants at below-market rates.
- Pro-Forma Income Potential: Clear strategic path toward a ±10% Cap Rate through vacancy lease-up and rent stabilization.
- Strategic Lake County Location: Situated within Painesville's established industrial corridor with immediate access to SR-2 and I-90.
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Contacts
Rick Osborne Jr.
KW Greater Cleveland Northeast
Location
Contact Listing Broker
Rick Osborne Jr.
KW Greater Cleveland Northeast
