Value-Add Mixed-Use Opportunity in Prime Lakewood Location 6-unit mixed-use building featuring 4 residential units and 2 storefronts. Current gross income is $5,027/month with one residential vacancy, presenting immediate upside by leasing the final unit. Current NOI is approximately $31,200annually. Key points: Unit Mix: 3x 1-bed, 1x 2-bed, 2x commercial storefronts Occupancy: 83.3% (5 of 6 units occupied) Retail Rents: One storefront leased at $1,575; (2200 sq ft) the second at just $895 (825 sq ft) Residential Rents: Range from $750–$907.50 with room to increase as leases renew. Units are just shy of 800 Sq ft and market rents AVERAGE $1000/ month Current GOI: $61,268/ year Recent NOI (T12): potential to push well over $45K with full occupancy and lease-up Building Size: 6,078 SF on a 7,610 SF lot Zoning: Retail with walk-up apartments (4970 use) Year Built: 1922, solid brick construction, full basement Parking: Approx. 3,000 SF paved lot in rear (per auditor), ideal for tenant parking or future use potential Taxes: 12,165/ year Located in the heart of Lakewood's Madison corridor—one of Cleveland’s hottest rental submarkets with strong rent growth and low vacancy. Property is listed by Rick Tannenbaum.