2800-2806 Mayfield Rd - Storefront Retail/Office FOR SALE


Cleveland Heights, OH 44118
$1,200,000 USD
216-870-8687
2800-2806 Mayfield Rd, Cleveland Heights, OH for Sale
$1,200,000 USD
Storefront Retail/Office - FOR SALE
1/29
null | 9.15% Cap Rate

2800-2806 Mayfield Rd
Cleveland Heights, OH 44118


HIGHLIGHTS

  • High-performing, cash-flowing, mixed-use property in the heart of the vibrant Coventry Village
  • Offers a 9% cap rate and double-digit cash-on-cash returns from day one
  • Long-term appreciation potential in a high-demand neighborhood
  • 6 fully occupied, updated apartments, 2 commercial spaces, 2 storefronts
  • Residential units feature refinished hardwood floors, modernized kitchens / bathrooms, in-unit laundry, central air & individual furnaces / HWTs

OVERVIEW

Premier Investment Opportunity – High-Yield Mixed-Use Asset in Coventry Village! An exceptionally rare chance to acquire a high-performing, cash-flowing mixed-use property at the prime intersection of Coventry and Mayfield Rd. This iconic building is located in the heart of Coventry Village, a vibrant destination surrounded by popular restaurants, bars, and entertainment. This property offers multiple income streams, consisting of six fully occupied, updated apartments, two commercial spaces, and two storefronts. The large commercial storefront is currently occupied by Pacific East, a renowned Japanese restaurant that has just signed a 10-year lease extension, providing long-term stability for investors. The residential units have been thoughtfully upgraded with refinished hardwood floors, fresh paint, modernized kitchens and bathrooms, in-unit laundry, central air, and individual furnaces and water tanks. Additionally, vinyl windows and separate utility meters further enhance the property’s efficiency. Residents also benefit from ample on-site parking—an invaluable asset in this highly sought-after neighborhood. From a financial perspective, this property delivers immediate, strong returns with a 9% cap rate and double-digit cash-on-cash returns from day one. The two vacant storefronts offer additional value-add potential, allowing for further income growth once tenants are secured. This is a rare opportunity to acquire a cornerstone asset in Coventry Village—an established, high-demand location that offers immediate cash flow and long-term appreciation potential. Don’t miss out on this exceptional investment.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$62 USD /SF

CAP RATE

9.15%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

10-Unit Mixed Use | 9%+ Cap AS-IS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1915

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

-

APN/PARCEL ID

684-04-001

ASK ABOUT THIS PROPERTY

Tal TamirRussell Real Estate ServicesMore Info
216-870-8687

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Tal TamirRussell Real Estate ServicesMore Info
216-870-8687

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.