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121-127 E Main St 12,313 SF 100% Leased Retail Building Ravenna, OH 44266 $3,693,168 CAD ($299.94 CAD/SF) 7.50% Cap Rate
Investment Highlights
- High Traffic
- Rental Improvement
Executive Summary
Prime investment opportunity in the heart of Ravenna! This mixed-use commercial building features 11 commercial units/offices along with 17 residential apartment units, offering strong income potential and diverse revenue streams. Ideally located with great visibility and accessibility, this property is perfect for investors looking to expand their portfolio or generate consistent cash flow. At a Glance High profile revitalization or redevelopment opportunity of The Variety Theater, featuring a 20,675 square foot auditorium, multiple retail suites fronting Lorain Avenue and second floor apartments, totaling ~33,323 SF. Located in the lively Jefferson neighborhood of Cleveland, near the corner of Lorain Avenue and West 117th Street (nearly 30,000 VPD). Listed on the National Register of Historic Places. Convenient access to I-90 (nearly 130,000 VPD). $1.4 Million available in state-funded grants. Retail Units Five Retail Storefronts: +/- 6,455 SF of versatile space. Prime Visibility: Excellent frontage on Lorain Avenue with nearly 30,000 vehicles per day (VPD). Flexible Layouts: Storefronts can be combined to create larger continuous spaces. Ideal Opportunities: Perfect for a coffee shop, restaurant, record store, or other boutique retail.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
12,313 SF
Building Class
C
Year Built
1870
Price
$3,693,168 CAD
Price Per SF
$299.94 CAD
Cap Rate
7.50%
NOI
$276,988 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.91
Lot Size
0.31 AC
Zoning
CBD - Central Business District
Parking
10 Spaces (0.81 Spaces per 1,000 SF Leased)
Frontage
Moderately walkable
70/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 31-349-04-00-193-000 | Total Assessment | $182,511 CAD |
| Land Assessment | $36,439 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $146,072 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
31-349-04-00-193-000
Land Assessment
$36,439 CAD
Improvements Assessment
$146,072 CAD
Total Assessment
$182,511 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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Presented by
Keller Williams Chervenic Realty
121-127 E Main St
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