Mixed-Use Property with
For Sale
$199,900
436 Cleveland St, Elyria, OH 44035
Retail/office space with a two-bedroom apartment and parking.
Property Size1,600 SF
Lot Size0.26 Acres
Price / SF$124.94
Days on Market833
Property Features for 436 Cleveland St
General Information
Standard status
Active
Size
1,600 SF
Lot size
0.26 Acres
Taxes and HOA fees
Annual Taxes
$4,792
Listing Agency:
Northern Ohio Realty
(440) 355-5922
Listed By:
Kenneth Keiffer · License #311666
(440) 355-5922
Source:
Exprealty
Added: May 2, 2024
Changed: Aug 8
Last Checked: Aug 8 at 6:02AM
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 Northern Ohio Realty
Investment Insights
Based on property information with market context.
This mixed-use property features approximately 1600 square feet of retail or office space on the first floor, complemented by a large enclosed porch. The second floor contains a 1400 square foot apartment with two bedrooms and two full bathrooms. The building includes a two-car attached garage, a full basement, and a private parking lot. The property has been well-maintained, with most mechanical systems up to date. The location offers high traffic and easy access to highways, presenting potential for various business uses.
Key Highlights
- High traffic location ideal for retail or office use.
- Two‑story building featuring approximately 1600 SqFt of retail/office space and a 1400 SqFt two‑bedroom, two‑bath apartment.
- Includes a private parking lot and an attached two‑car garage.
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
$16,560
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
8.28%
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%
$331,200
$331.2K
Cap Rate 7%
$236,571
$236.6K
Cap Rate 9%
$184,000
$184.0K
Market Conditions
NOI Build-Up for 1,600 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
$28.8K $18.00/SF
− Vacancy
−$2.3K −$1.44/SF
EGI
$26.5K $16.56/SF
− OpEx
−$9.9K −$6.21/SF
NOI
$16.6K $10.35/SF
Area
Lorain County, OH
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$331,200
Cap Rate 7%
$236,571
Cap Rate 9%
$184,000
Alternative Uses
Best Use
Office B
$288.5K
$252.5K – $336.6K
NOI $20,196 @ 7.0% cap · market cap 10.10%
Second Best
Mixed Use
$236.6K
$207.0K – $276.0K
NOI $16,560 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$403.2K
$352.8K – $470.4K
NOI $28,224 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
386
Businesses Nearby
Explore this area
Business Placement
Demographics for 44035, OH
61,921
Population
29,637
Households
2.1
Avg Household Size
42
Median Age
17%
College-Educated
88%
High-School Grad
47.6 sq mi
ZIP Area
1,301
Density / Sq Mi
$54,362
Median Household Income
$38,493
Median Earnings
$871
Median Rent
$147,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail/office space with a two-bedroom apartment and parking.
Where is this mixed-use property located?
The property is located at 436 Cleveland St Elyria, OH.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: High traffic location ideal for retail or office use.; Two‑story building featuring approximately 1600 SqFt of retail/office space and a 1400 SqFt two‑bedroom, two‑bath apartment.; Includes a private parking lot and an attached two‑car garage.
