602-608 E 185th St - Storefront Retail/Residential FOR SALE


Cleveland, OH 44119- North Collinwood
$292,900 USD
216-870-8687
602-608 E 185th St, Cleveland, OH for Sale
$292,900 USD
Storefront Retail/Residential - FOR SALE
1/47
null | Request Cap Rate

602-608 E 185th St
Cleveland, OH 44119
North Collinwood


HIGHLIGHTS

  • Fully Occupied Mixed-Use Asset!
  • Immediate cash flow in a high-traffic corridor just outside Euclid
  • Value-add upside – Commercial units renting below market, offering a clear path to increased income
  • Proforma CAP - 11.2%
  • Operating at a current 8%+ CAP with potential for double-digit returns
  • New roof being installed on the commercial building - reducing future capital expenses

OVERVIEW

Incredible opportunity to acquire a fully occupied mixed-use property on East 185th Street in Cleveland, Ohio, just outside of Euclid. This cash-flowing asset features four commercial storefronts and a duplex on the same lot, with all units currently leased. The commercial spaces are slightly under market rent, each averaging $750/month, offering immediate upside on renewals. The duplex consists of two one-bedroom, one-bath units—one leased at $625/month through 11/30/2025, and the other at $575/month through 7/31/2026. A brand-new roof is being installed on the commercial building, reducing future capital expenditures for the new owner. Based on current financials, the property is operating at an 8%+ cap rate, with a clear path to double-digit returns through modest rent increases. This is a rare, low-maintenance, income-producing asset in a high-visibility location ideal for any investor seeking strong in-place cash flow with value-add potential.

FOR SALE DETAILS

PRICE

$292,900 USD

PRICE/SF

$66 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1927

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

Commercial

APN/PARCEL ID

114-11-028

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 Notice.