This mixed-use building offers a compelling investment with three ground-floor commercial units and three upstairs apartments. The three residential units are currently tenanted, providing immediate cash flow, but all rents (commercial and residential) are below market rate, presenting an immediate upside. A key value-add opportunity is the seller's current occupancy of one apartment and two retail units. Upon closing, a new owner can immediately lease these three spaces at market rates, substantially increasing the Gross Potential Income (GPI). Furthermore, a third retail unit, currently used for low-yield storage (historically a bakery), can be converted into a high-yield retail storefront. This is a clear Opportunity Knocks scenario for an investor to acquire a stable asset with defined, actionable strategies for immediate and significant capitalization rate improvement.
Listed By
Agency Name: Russell Real Estate Services
Agency Contact: rfarina555@gmail.com, 216-870-3210
Shown By
Agent Name: Mike Love
Agent Phone: Cell: (330) 359-1328
Agency Title: Great Move Realty
Great Move Realty Mike Love (cell) (330) 359-1328
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5767 Ridge Road | MLS# 5187728
This commercial property located at 5767 Ridge Road, Parma, OH 44129 is currently listed for sale with an asking price of $375,000. Ridge Road is located within the Parma City school district. Search Parma real estate on mikelove.greatmoverealty.net today.