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602-608 E 185th St
Cleveland, OH 44119
Mixed-Use Asset | 11.4% - Proforma Cap! · Commerce de détail Propriété À vendre
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Faits saillants de l'investissement
- Fully Occupied Mixed-Use Asset!
- Value-add upside – Commercial units renting below market, offering a clear path to increased income
- Operating at a current 8%+ CAP with potential for double-digit returns
- Immediate cash flow in a high-traffic corridor just outside Euclid
- Proforma CAP - 11.4%
- New roof being installed on the commercial building - reducing future capital expenses
Résumé de l'annonce
This 6-unit mixed-use property on East 185th Street offers a rare combination: four commercial storefronts and a residential duplex on the same lot, priced at just $45,000 per door. One commercial unit is vacant and ready for immediate lease-up, while the occupied spaces are well below market rent, creating a clear path to stabilization.
The duplex units are currently leased at $575 and $625 per month, with market rents closer to $850. The commercial spaces average $700-750 against an $800 market rate. A brand-new roof was just installed on the commercial building, eliminating a major capital expense for the next owner. With proforma numbers showing a 12%+ cap rate and over 19% cash-on-cash return, this is a straightforward value-add play in a high-traffic corridor just outside Euclid.
The duplex units are currently leased at $575 and $625 per month, with market rents closer to $850. The commercial spaces average $700-750 against an $800 market rate. A brand-new roof was just installed on the commercial building, eliminating a major capital expense for the next owner. With proforma numbers showing a 12%+ cap rate and over 19% cash-on-cash return, this is a straightforward value-add play in a high-traffic corridor just outside Euclid.
Faits sur la propriété
Type de vente
Investissement
Type de propriété
Commerce de détail
Sous-type de propriété
Commerce pied immeuble
Taille du bâtiment
4 432 pi²
Classe d’immeuble
C
Année de construction/rénovation
1927/2015
Prix
375 509 $ CAD
Prix par pi²
84,73 $ CAD
Pourcentage loué
100%
Location
Multiples
Hauteur du bâtiment
2 étages
Coefficient d’occupation des sols de l’immeuble
0,64
Taille du lot
0,16 AC
Zone de développement économique
Oui
Zonage
Commercial
Façade
70’ sur 185Th St
Impôts fonciers
| Numéro de lot | 114-11-028 | Évaluation des bâtiments | 62 278 $ CAD |
| Évaluation du terrain | 10 284 $ CAD | Évaluation totale | 72 562 $ CAD |
Impôts fonciers
Numéro de lot
114-11-028
Évaluation du terrain
10 284 $ CAD
Évaluation des bâtiments
62 278 $ CAD
Évaluation totale
72 562 $ CAD
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