The News Herald (Willoughby, OH)
Building struck by arson now on the market
Efforts are underway to fill a Painesville Township building that was the site of an arson fire in 2017.
Lee & Associates Commercial Real Estate Services is working to sell or lease a 27,000-square-foot building at 1740 North Ridge Road, which once housed Just Teazin’ Gentlemen’s Club and True Value Hardware.
That building has been vacant since an Oct. 23 fire that started about 1 a.m. at Just Teazin’. The club shared the building with True Value Hardware, which incurred some smoke and heat damage, said
Frank Huffman, who then was Painesville Township assistant fire chief. No one was in either business when crews arrived on the scene, said Huffman, who has since been promoted to fire chief.
The fire was later ruled an arson. No arrests have been made and the case is still open, said Lake County Sheriff’s Office Capt. Ron Walters, in a telephone interview on July 16.
Peter Miller, vice president of the Lee and Associates Cleveland office in Pepper Pike, also is the agent who’s listed the property for sale or lease. He said that the site has been on the market for a couple of months.
“We’ve had a few showings already,” he said.
Miller declined to reveal the asking price but did provide The News-Herald with a brochure on the property that describes the building as being at a “prime location
on Route 20,” with quick access to state Route 2 via Route 535, or Fairport Nursery Road. Constructed in 1950, the building sits on 2.5 acres, with 90 feet of frontage on Route 20, and would be “good for distribution or redevelopment.”
Miller also gave an update
on the condition of the building after last year’s fire.
“Steel structure has been confirmed in good shape and they’re still remediating the effects of the fire, which was in the nightclub portion,” he said.
Overall, Miller noted the
building has many positive attributes and he’s confident about completing a transaction.
“Hopefully soon, we’ll get life back at the property,” he said.
That sentiment is shared by Painesville Township Administrator Mike Manary.
“We’d would like to see the building occupied again,” he said.
The property is zoned General Retail, Manary said, and the township doesn’t anticipate anything other than retailers moving into the structure.
While that section of
the township needs a grocery store, Manary said he doesn’t think the site is large enough to accommodate such a business.
If a developer wanted to use the building for a different purpose, Manary said each rezoning request in the township is evaluated on its own merits.
He’s optimistic that the property will become the future home of some sort of retail or commercial businesses.
“It is a great location,” he said.
The property is owned by 1740 North Ridge LLC of Pepper Pike, according to Lake County Auditor’s Office records. This limitedliability corporation purchased the property in 2014 from D & N Properties Inc. for $270,000, records show.
In addition, Lake County Auditor’s Office records list the property as having appraised land and building values, respectively, of $62,510 and $204,470, for a total appraised value of $266,980. The taxable value is $93,440, auditor’s records show.