Two-Story Retail
1299 W 9th Street, Cleveland, OH 44113
For Sale
$1,350,000
Brick construction, hospitality interiors on both floors, and a second-floor deck shape the property’s commercial layout.
Property Size6,566 SF
Price / SF$205.60
Days on Market49
Property Features for 1299 W 9th Street
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Amenities
outdoor deck/patio
full basement
billboard signage rights
Building Details
Building Size
Year Built
Buildings
Stories
Construction
Tenancy
Listing Agency:
Realty Professionals, Inc.
Listed By:
Vincent Liuzzi · License #OH 2022002940
(216) 912-2196
Source:
Asacoxhomes
Added: Sep 22
Changed: Nov 2
Last Checked: Nov 8 at 2:15AM
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 Realty Professionals, Inc.
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Investment Insights
Based on property information with market context.
This two-story brick retail building contains 6,566 SF, with hospitality space on each floor and a full basement. A deck extends from the second floor. The property was built in 1910 and is leased under two separate five-year NNN agreements. Both leases are executed, though the tenants have not yet opened for business; tenant improvements are underway. Once operating, the lease structure assigns real estate taxes, insurance, utilities, and routine maintenance to the tenants.
The building is on W 9th Street between Johnson Court and West St. Clair Avenue, near Playhouse Square and professional sports venues. Its location is also described as part of the Warehouse District entertainment corridor. Exterior walls may be leased for billboard signage.
The building is on W 9th Street between Johnson Court and West St. Clair Avenue, near Playhouse Square and professional sports venues. Its location is also described as part of the Warehouse District entertainment corridor. Exterior walls may be leased for billboard signage.
Key Highlights
- 6,566 SF in a two‑story brick building
- Two executed five‑year NNN leases; property is 100% leased, though tenants have not opened
- Hospitality space on each floor, plus a full basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,083
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,261,660
$1.3M
Cap Rate 7%
$901,186
$901.2K
Cap Rate 9%
$700,922
$700.9K
Market Conditions
NOI Build-Up for 6,566 SF
Gross rent
$98.5K $15.00/SF
− Vacancy
−$8.4K −$1.28/SF
EGI
$90.1K $13.73/SF
− OpEx
−$27.0K −$4.12/SF
NOI
$63.1K $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 Rate 5%
$1,261,660
Cap Rate 7%
$901,186
Cap Rate 9%
$700,922
Alternative Uses
Best Use
Retail
$901.2K
$788.5K – $1.05M
NOI $63,083 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,162 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,955
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44113, OH
20,291
Population
12,554
Households
1.6
Avg Household Size
33
Median Age
54%
College-Educated
89%
High-School Grad
3.8 sq mi
ZIP Area
5,340
Density / Sq Mi
$70,140
Median Household Income
$61,204
Median Earnings
$1,374
Median Rent
$295,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Storefront properties in Cleveland, OH
Properties on Market for Storefront properties in Cleveland
Vacancy Rate% for Retail in Cleveland, OH
Similar Off Market Nearby
- Art of Bloom Florist — cleveland, oh 44113
- Floral Room — cleveland, oh 44113
Frequently Asked Questions
What type of property is this?
Storefront property - Brick construction, hospitality interiors on both floors, and a second-floor deck shape the property’s commercial layout.
Where is this storefront property located?
The property is located at 1299 W 9th Street Cleveland, OH.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 6,566 SF in a two‑story brick building; Two executed five‑year NNN leases; property is 100% leased, though tenants have not opened; Hospitality space on each floor, plus a full basement
