4435 State Rd - Storefront Retail/Residential FOR SALE


Cleveland, OH 44109- Old Brooklyn
$150,000 USD
440-670-2300
4435 State Rd, Cleveland, OH for Sale
$150,000 USD
Storefront Retail/Residential - FOR SALE
1/43
null | Request Cap Rate

4435 State Rd
Cleveland, OH 44109
Old Brooklyn


OVERVIEW

Located in the highly desirable Old Brooklyn neighborhood, this two-unit mixed-use property offers strong cash flow with tenants paying all utilities including water, sewer, and trash. The upper residential unit features three bedrooms, one full bath, full attic access, and new flooring throughout, and was recently leased at $950 per month but the tenant is leaving by March 1. We have a tenant already interested in the space that could be placed (he's friends with the lower tenant) . The lower commercial unit includes a half bath and private access to the basement and is occupied at $700 per month on a month-to-month lease by a long-term tenant of approximately two years who uses the space for music practice and storage and would like to remain. Market rents for both units exceed $1,200 per month, providing clear upside. Owner expenses are minimal with approximately $95 per month in insurance and $260 per month in taxes, and the property is currently self-managed. The roof is approximately four years old, the hot water tank was replaced in 2023, and the electric was updated about two years ago. Conveniently located near MetroHealth Hospital, Cleveland Zoo, Ridge Park Square, and major commuter routes, this property is easy to rent and produces a current cap rate over 8 percent with a pro forma cap rate exceeding 10 percent!

FOR SALE DETAILS

PRICE

$150,000 USD

PRICE/SF

$75 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

LR

APN/PARCEL ID

011-03-014

ASK ABOUT THIS PROPERTY

Erin ThomasKeller Williams LIVINGMore Info
440-670-2300

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Erin ThomasKeller Williams LIVINGMore Info
440-670-2300

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