Overview
This exceptional mixed-use property at 5384 Saint Clair Avenue in Cleveland, Ohio, presents a rare investment opportunity. The 9,072 square foot brick building sits on a 0.09-acre lot and boasts a diverse income stream. The ground floor houses two established businesses: a shoe repair shop and a well-regarded restaurant operating for over 20 years. The restaurant features a fully equipped kitchen, public restrooms, a diner bar, a full office with a half-bath, ample storage, a walk-in cooler and freezer, and more. Upstairs, three two-bedroom apartments, each with a full bath, kitchen, living room, dining room, and laundry area, provide consistent rental income. All spaces are individually metered. A significant advantage is the inclusion of a large, adjacent 0.09-acre asphalt parking lot, a rare amenity in this area. The property also features three separate basements. Recent improvements include a full concrete back to the building, a completely redone asphalt parking lot with seal coat, Trexboard deck areas on the upper level, LVT flooring in the restaurant, a new roof over apartment 3, additional concrete at the rear of the building (95 ft concrete curb/drywell drainage for the parking lot), island topsoil, two new hot water tanks, updated restaurant office bathroom and office space, a full renovation of Apartment 3, and a walk-in cooler and freezer with recent refrigerant/freezer service. The property also includes an ADT alarm system. Two newer furnaces are also present. The building enjoys a prime location, offering easy access to shopping, freeways, downtown Cleveland, Lake Erie, parks, and hospitals. This turnkey property is being offered at $890,000. Detailed tenant and building information is available in supplemental documents.
