9222 Madison Ave - Apartments FOR SALE


Cleveland, OH 44102- Cudell
$434,999 USD
216-288-9263
9222 Madison Ave, Cleveland, OH for Sale
$434,999 USD
Apartments - FOR SALE
1/23
null | 7.44% Cap Rate

9222 Madison Ave
Cleveland, OH 44102
Cudell


HIGHLIGHTS

  • Fully leased residential units generating stable income.
  • Two white-box retail spaces ready for tenant build-out.
  • Lead-certified buildings with ADT security in retail.
  • Adjacent lots available for expansion via Land Bank.
  • High-visibility location with strong foot and vehicle traffic.
  • Ideal for investors, developers, or owner-occupants.

OVERVIEW

Positioned in the heart of Cleveland’s revitalizing Madison corridor, this rare two-building parcel offers a compelling blend of stable income and value-add upside. With four fully leased residential units generating $52,800 annually and two white-box retail spaces ready for occupancy, investors can tap into immediate cash flow while unlocking future growth. The residential units are generously sized, with each building offering two 3-bedroom layouts—one with 1 bath and the other with 1.5 baths—ideal for long-term tenancy. The retail spaces are primed for customization and feature high-visibility frontage, modern finishes, and an ADT security system already in place. Located in a walkable, high-traffic area with strong commercial and residential synergy, the property benefits from proximity to downtown Cleveland, major transit routes, and a growing base of local businesses. For developers, the adjacent lots available through the Cleveland Land Bank Reutilization present a rare chance to expand, redevelop, or add parking at minimal cost. Improvements: In 1987 and 1989 W. 93 1987: New furnace, Basement freshly painted, New water tank installed 1989-installed new water proof system by OH Basement System, new water tank installed Madison: Retail ADT survaliance monitor-3 camera views new siding exterior, white box improvement est. $80-90K combined Whether you're seeking a turnkey investment with upside or a strategic redevelopment play, this property delivers flexibility, location strength, and income stability.

FOR SALE DETAILS

PRICE

$434,999 USD

PRICE/SF

$34 USD /SF

# OF UNITS

6

PRICE/UNIT

$72,500

CAP RATE

7.44%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1910

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,037 SF

ZONING

GR

APN/PARCEL ID

001-30-021

ASK ABOUT THIS PROPERTY

Lori PetersonHome Suite Home Property ManagementMore Info
216-288-9263

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Lori PetersonHome Suite Home Property ManagementMore Info
216-288-9263

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