Two-Unit Duplex with
For Sale
$168,000
11320 Florian Ave, Cleveland, OH 44111
Both residences offer separate utilities, central air, and two-bedroom layouts with full basement access.
Property Size1,674 SF
Price / SF$100.36
Days on Market16
Property Features for 11320 Florian Ave
General Information
Standard status
Active
Size
1,674 SF
Total Parking Spaces
2
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$850
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,808
Amenities
central air
patio
fenced yard
Building Details
Buildings
1
Listing Agency:
Prestige Realty West
(440) 871-6300
Listed By:
Renee Stybel · License #2003003804
(216) 702-8915
Source:
Exprealty
Added: Sep 3
Changed: Sep 12
Last Checked: Sep 18 at 9:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Prestige Realty West
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,674 SF, with each residence arranged as a two-bedroom, one-bath home featuring a kitchen, living room, and dining area. Both units have central air and separate utilities. Shared improvements include a full basement, a partially finished attic, a fenced rear yard with patio, landscaping, and a two-car garage.
The property is located on Cleveland’s West Side at 11320 Florian Ave. Both residences are occupied under month-to-month arrangements, and the current tenants have expressed interest in remaining. The home has been maintained by the same owner for 40 years.
The property is located on Cleveland’s West Side at 11320 Florian Ave. Both residences are occupied under month-to-month arrangements, and the current tenants have expressed interest in remaining. The home has been maintained by the same owner for 40 years.
Key Highlights
- Two‑unit duplex with 1,674 SF
- Each unit includes 2 bedrooms, 1 bath, kitchen, living room, and dining room
- Central air and separate utilities serve both units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,835
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$296,700
$296.7K
Cap Rate 7%
$211,929
$211.9K
Cap Rate 9%
$164,833
$164.8K
Market Conditions
NOI Build-Up for 1,674 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.7K $17.16/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$27.0K $16.11/SF
− OpEx
−$12.1K −$7.25/SF
NOI
$14.8K $8.86/SF
Area
ZIP 44111
Vacancy
6.10%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$296,700
Cap Rate 7%
$211,929
Cap Rate 9%
$164,833
Alternative Uses
Best Use
Multifamily LT 5
$266.7K
$233.4K – $311.2K
NOI $18,670 @ 7.0% cap · market cap 11.11%
Second Best
Apartment 5plus
$211.9K
$185.4K – $247.3K
NOI $14,835 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$315.2K
$275.8K – $367.7K
NOI $22,064 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
761
Businesses Nearby
Explore this area
Business Placement
Demographics for 44111, OH
41,045
Population
19,041
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
85%
High-School Grad
6.5 sq mi
ZIP Area
6,315
Density / Sq Mi
$54,790
Median Household Income
$38,151
Median Earnings
$938
Median Rent
$130,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer separate utilities, central air, and two-bedroom layouts with full basement access.
Where is this duplex located?
The property is located at 11320 Florian Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $168,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,674 SF; Each unit includes 2 bedrooms, 1 bath, kitchen, living room, and dining room; Central air and separate utilities serve both units
