988 E 185th Street, Cleveland, OH 44119
Euclid 15 · Cuyahoga County
Key Facts
Description
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!
Property Information
Property Type
Commercial Sale
Sub-Type
Business
Year Built
1942
Living Area
2,644 sq ft
Lot Size
0.14 acres
Days on Market
578
MLS® Listing#
5083075
Property Features
Cooling
Heating
Basement
Parking
Fencing
Roof
Sewer
Water Source
Financial Details
Annual Taxes
$2,647
Tax year 2023
Parcel Number
113-08-020
Directions
N. of I-90
Affordability Calculator
$27,800
Estimated monthly payment
$740/mo
Principal $111,200 · Est. interest $155,134 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Cleveland, OH
- 51
- Median Days on Market
- 1,829
- Median Sq Ft
- $98
- Median Price / Sq Ft
- 1,399
- Active Listings
- Its price per sq ft is 46% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Cleveland, OH.
Location
Points of Interest in Cleveland, OH
Showing the Cleveland area map.
Nearby Schools
Imagine Bella Academy
School · 0.3 mi away
Lakeshore Intergenerational School
Elementary · 0.3 mi away
St John Lutheran School
School · 0.4 mi away
Oliver H Perry Elementary School
Elementary · 0.5 mi away
Hannah Gibbons School
Elementary · 0.8 mi away
Arbor Elementary School
Elementary · 1.0 mi away
Villa Angela - St Joseph High School
Secondary · 1.0 mi away
Euclid Central Middle School
Elementary · 1.1 mi away
Play-N-Learn Learning Place
School · 1.3 mi away
Pinnacle Academy
School · 1.4 mi away
Moore Loving Hands Day Care
School · 1.4 mi away
St Jerome Elementary School
Elementary · 1.4 mi away
Ginn Academy
School · 1.5 mi away
Memorial School
Elementary · 1.5 mi away
Euclid Preparatory School
Elementary · 1.5 mi away
Holy Cross School C/O '89
School · 1.5 mi away
Our Lady of the Lake Parish
School · 1.5 mi away
Lincoln Elementary School
Elementary · 1.6 mi away
Kiddie City Child Care Community
School · 1.6 mi away
Euclid Senior High School
Secondary · 1.6 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 11606 Shadeland Avenue, East Cleveland, OH | $98,000 | 4 | 2 | — |
| 13120 Crennell Avenue, Cleveland, OH | $98,000 | 3 | 1 | 2,060 |
| 1101 Carlyon Road, East Cleveland, OH | $98,000 | 4 | 2 | 1,900 |
| 1854 Burnette Avenue, East Cleveland, OH | $98,000 | 4 | 2 | 1,856 |
| 974 E 144th Street, Cleveland, OH | $98,000 | 3 | 1 | — |
| 6700 Hague Avenue, Cleveland, OH | $98,000 | 3 | 1 | 1,800 |
Moving Cost Estimate
EXIT Agents in Cleveland
Listing Courtesy: EXP Realty, LLC. - homeswithtom@gmail.com 440-829-4541
Last Updated: 2024-11-05