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.
Listed By
Agency Name: Russell Real Estate Services
Agency Contact: tal@premierclevelandinvesting.com, 216-870-8687
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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608 E 185th | MLS# 5187357
This commercial property located at 608 E 185th, Cleveland, OH 44119 is currently listed for sale with an asking price of $269,900. E 185th is located within the East Cleveland City school district. Search Cleveland real estate on mikelove.greatmoverealty.net today.