Exceptional commercial value! Meticulously maintained, 3-story office building listed at $139,000 on a heavily traveled Cleveland corridor. Featuring 1,708 SQFT above ground plus an additional 936 SQFT below grade (over 2,600 total usable SQFT), this zoned office property is an investor's dream or perfect for an owner-user looking to stop renting. Currently a long-term, owner-occupied law office. For investors, this property boasts massive cash-flow potential. With 4 separate entrances (front, back, side, and lower level), the building easily subdivides into multi-tenant office suites. Based on area market rents of $14–$18/SQFT, the estimated gross rental potential is $2,500 to $3,200+ per month ($30,000–$38,400+ annually). Factoring in conservative operating expenses, this translates to a projected 14.0% to 17.9% Cap Rate—virtually unheard of in today's market! The interior offers a welcoming lobby, private main-floor office, and full kitchen/cafeteria. The 2nd floor provides 4 private offices and a full bath, while the 3rd level features a private executive suite with tandem access. Hardwood floors are preserved under the carpet. The partially finished lower level adds value with a half bath, mechanicals, additional storage capacity, and a dedicated walk-up exit to the rear lot. Major recent upgrades include a Newer AC (2023), Newer Windows, Roof (2014), and a Newer Concrete Pad. The site also benefits from the City's recent Street Beautification Project with brand-new sidewalks, curbs, and street paving. The exterior features a fully fenced lot with a paved drive and parking for multiple vehicles, backing up to a wooded area. Located next to Fifth Third Bank with immediate access to all major highways. Owner is retiring. Fast occupancy—easy to show!
Based on the average sale price from the Youngstown, OH office
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Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.
Mortgage calculator provided courtesy of Inside Real Estate.
988 E 185th Street Cleveland, OH is a Single Family Home for sale at $139000 and a lot size of 0.1377 Acres Acre(s). 988 E 185th Street Cleveland has 0 bedrooms, 0 baths and was built in 1942. The property's zip code is 44119 which is in Cleveland, OH
*Information deemed reliable but not guaranteed.
Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Mortgage calculator provided courtesy of Inside Real Estate.
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