MLS#5196402
STATUSActive
PROPERTY TYPECommercial - Business
SCHOOLCleveland Municipal - 1809
Property Description
Turnkey mixed-use investment opportunity in the highly desirable Detroit Shoreway neighborhood. This fully renovated property features 5 residential units and 3 occupied retail storefronts, generating $109,200 in annual income with a strong NOI of $95,603 (12.1% cap rate).*Residential units include 3 one-bedroom apartments and 2 efficiency units, all leased with stable tenancy through 2026-2027. Retail spaces are fully occupied with leases in place through 2026 and 2028, providing consistent commercial income.* The building has been extensively updated with a new roof, HVAC systems, updated electrical and plumbing, and fully renovated interiors, resulting in minimal deferred maintenance. Tenants pay utilities, keeping operating expenses low. Located just minutes from Edgewater Park with easy access to downtown Cleveland and major highways.
Property Features
Property Type: Commercial - Business
Cooling: None
Heating: Gas
Lot Size: 0.09 Acres
Taxes: $5,717 / year
Year Built: 1910
Feature Descriptions
Days on Site: 1
Parcel#: 002-20-010
Sewer: Public Sewer
Water: Public
Local Schools
School District: Cleveland Municipal - 1809
Listed By / Shown By
Listed By
Agency Name: RE/MAX Above & Beyond
Agency Contact: angiarikos@gmail.com, 216-598-0039
Shown By
Agent Name: Nathan Stallard
Agent Phone: (330) 421-4827
Agency Title: M.C. Real Estate
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8403 Detroit Avenue | MLS# 5196402
This commercial property located at 8403 Detroit Avenue, Cleveland, OH 44102 is currently listed for sale with an asking price of $789,000. Detroit Avenue is located within the Cleveland Municipal - 1809 school district. Search Cleveland real estate on nstallard.mcrealestateohio.com today.