Corner Retail
For Sale
$335,000
700 200th Street, Cleveland, OH 44119
Corner retail storefront on LR-C1 zoning with on-site parking and 0% occupancy.
Property Size2,562 SF
Lot Size0.15 Acres
Price / SF$130.76
Days on Market497
Property Features for 700 200th Street
General Information
Standard status
Active
Size
2,562 SF
Lot size
0.15 Acres
Property subtype
Retail
Zoning
LR-C1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,487
Amenities
Central Air
3
Flat
Building Details
Year Built
1976
Listing Agency:
Trinity Commercial Realty, LLC.
(216) 402-8000
Listed By:
Gary Pescatrice · License #0000241394
(216) 402-8000
Source:
Xome
Added: Apr 9, 2025
Changed: Aug 12
Last Checked: Aug 18 at 5:16AM
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 Trinity Commercial Realty, LLC.
Investment Insights
Based on property information with market context.
This retail storefront property at 700 E 200th Street in Cleveland, Ohio offers a 2,562-square-foot building built in 1976. The site is described as a corner lot and is zoned LR-C1. The listing indicates 0% occupancy, providing a clean slate for a new user.
The property includes on-site parking and is positioned with convenient access to major highways like I-90. Additional details about frontage and specific streets are not provided.
Overall, it’s a straightforward retail building offering a corner-lot site, parking, and an LR-C1 zoning designation to support retail plans.
The property includes on-site parking and is positioned with convenient access to major highways like I-90. Additional details about frontage and specific streets are not provided.
Overall, it’s a straightforward retail building offering a corner-lot site, parking, and an LR-C1 zoning designation to support retail plans.
Key Highlights
- Retail storefront at 700 E 200th St in Cleveland, OH offered at $335,000
- LR‑C1 zoning with a 2,562 SF building on a 0.15‑acre corner lot
- Built in 1976; flat roof
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
$24,614
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
7.35%
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%
$492,280
$492.3K
Cap Rate 7%
$351,629
$351.6K
Cap Rate 9%
$273,489
$273.5K
Market Conditions
NOI Build-Up for 2,562 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
$38.4K $15.00/SF
− Vacancy
−$3.3K −$1.28/SF
EGI
$35.2K $13.73/SF
− OpEx
−$10.5K −$4.12/SF
NOI
$24.6K $9.61/SF
Area
Cleveland, OH
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$492,280
Cap Rate 7%
$351,629
Cap Rate 9%
$273,489
Alternative Uses
Best Use
Retail
$351.6K
$307.7K – $410.2K
NOI $24,614 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$625.2K
$547.1K – $729.4K
NOI $43,765 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44119, OH
12,134
Population
6,941
Households
1.7
Avg Household Size
44
Median Age
19%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
5,515
Density / Sq Mi
$48,268
Median Household Income
$36,556
Median Earnings
$927
Median Rent
$109,700
Median Home Value
Market
Vacancy Rate% for Retail in Cleveland, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Corner retail storefront on LR-C1 zoning with on-site parking and 0% occupancy.
Where is this storefront property located?
The property is located at 700 200th Street Cleveland, OH.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Retail storefront at 700 E 200th St in Cleveland, OH offered at $335,000; LR‑C1 zoning with a 2,562 SF building on a 0.15‑acre corner lot; Built in 1976; flat roof
