40
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$950,000
Est. payment /mo
3,720 Sqft Lot
New
8403 Detroit AVE Cleveland, OH 44102
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5241154
HOA Y/N No
Year Built 1910
Annual Tax Amount $5,717
Tax Year 2025
Lot Size 3,720 Sqft
Acres 0.0854
Property Sub-Type Mixed Use
Property Description
Turnkey mixed-use investment opportunity in the highly desirable Detroit Shoreway neighborhood. This fully renovated property features 5 residential units and 3 occupied retail storefronts, generating $111,600 in annual income with a strong NOI of $96,803 (10.2% cap rate).*Residential units include 3 one-bedroom apartments and 2 efficiency units, all leased with stable tenancy through 2027. Retail spaces are fully occupied with leases in place through 2029, providing consistent commercial income.* The building has been extensively updated with a new roof, HVAC systems, updated electrical and plumbing, and fully renovated interiors, resulting in minimal deferred maintenance. Tenants pay utilities, keeping operating expenses low. Located just minutes from Edgewater Park with easy access to downtown Cleveland and major highways
Location
State OH
County Cuyahoga
Interior
Heating Gas
Cooling None
Fireplace No
Exterior
Water Access Desc Public
Roof Type Flat
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 002-20-010
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Angela P Giarikos • RE/MAX Above & Beyond • angiarikos@gmail.com, 216-598-0039
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