49
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$269,900
Est. payment /mo
7,143 Sqft Lot
Active
608 E 185th Cleveland, OH 44119
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5187357
HOA Y/N No
Year Built 1927
Annual Tax Amount $5,454
Tax Year 2025
Lot Size 7,143 Sqft
Acres 0.164
Property Sub-Type Mixed Use
Property Description
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.
Location
State OH
County Cuyahoga
Interior
Heating Forced Air
Cooling None
Fireplace No
Exterior
Parking Features Asphalt
Water Access Desc Public
Roof Type Asphalt
Building
Sewer Public Sewer
Water Public
Schools
School District East Cleveland Csd - 1812
Others
Tax ID 114-11-028
Special Listing Condition Standard
Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com, 216-870-8687
NEARBY SCHOOL & BUSINESS
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Lyndsay Maynard
Broker Associate, Owner, Agent | OH & WV | License ID: SAL.2019000181, WVS200301118
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