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J & W Team

jovar@jwhomesales.com +1(304) 834-2739

$ 225,000

Est. payment | -/mo

7,348 Sqft Lot

Save

$ 225,000

Est. payment | -/mo

Save

7,348 Sqft Lot

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Mary C Meades Allotment

MLS Listing ID 5235469

HOA Y/N No

Year Built 1890

Annual Tax Amount $5,073

Tax Year 2025

Lot Size 7,348 Sqft

Acres 0.1687

Property Sub-Type Mixed Use

Property Description

Value-add mixed-use opportunity offered at just $225,000 with an estimated stabilized value of approximately $360,000. This fully vacant property features four income-producing spaces, including a 4-bedroom apartment, 2-bedroom apartment, storefront, and warehouse/storage space, estimated at $3900/mo total. Beyond rental income, the property's utility configuration presents an opportunity to implement a RUBS reimbursement program, potentially shifting all utility costs back to tenants. This creates another avenue to improve NOI without significant capital investment. Major systems anre in great shape including a newer roof (-10yr) , vinyl windows, hot water tanks (-5yr) , and a newer Trane furnace, allowing buyers to focus on stabilization rather than major mechanical replacements. The asking price projects a 12.07% cap rate or a $350,000 ARV at an 8% cap rate. Located in Cleveland's growing Old Brooklyn neighborhood, the property benefits from strong rental demand, ongoing redevelopment along the Pearl Road corridor, and close proximity to MetroHealth Medical Center, Downtown Cleveland, I-71, I-480, Cleveland Metroparks Zoo, and the Towpath Trail. Renovated apartments in the area continue to command premium rents, making this an excellent opportunity to create equity while generating strong cash flow. Schedule your private showing today.

Location

State OH

County Cuyahoga

Rooms

Basement Unfinished

Interior

Heating Forced Air

Cooling Central Air

Fireplace No

Exterior

Parking Features Driveway, Off Street

Water Access Desc Public

Roof Type Flat

Total Parking Spaces 4

Building

Sewer Public Sewer

Water Public

Level or Stories Two

Schools

School District East Cleveland Csd - 1812

Others

Tax ID 011-03-015

Security Features Security System

Special Listing Condition Standard

IDX - Northern Ohio Regional MLS (YES-MLS)/MLS NOW

Listed by Erin Thomas • Keller Williams Living • Erinthomas@kwcommercial.com, 440-670-2300

Nearby Locations

GET MORE INFORMATION

J & W Team

SALESPERSON | REALTOR Lic# OH- 2018000558 | WV- 200301035

jovar@jwhomesales.com

+1(304) 834-2739

3301 Emerson Ave Suite 2, Parkersburg, WV 26104, USA

4439 State RD Cleveland, OH 44109

J & W Team

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

4439 State RD