10-Suite Apartment
13200 Fairhill Road, Shaker Heights, OH 44120
For Sale
$1,285,000
Residents have separate heat and electric, with updates completed in portions of the building.
Property Size10,959 SF
Price / SF$117.26
Days on Market46
Property Features for 13200 Fairhill Road
General Information
Standard status
Size
Property subtype
Occupancy
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Utilities to Site
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
Century 21 Homestar
Listed By:
Mike Sikoutris · License #344147
(216) 469-5701
Source:
Lifestagesrealty
Added: Sep 24
Changed: Nov 7
Last Checked: Nov 7 at 7:52PM
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 Century 21 Homestar
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 10-suite apartment building contains 10,959 square feet and was built in 1952. The property is fully occupied, and each suite has separate heat and electric service. Updates have been made in portions of the building.
The building is located at 13200 Fairhill Road in Shaker Heights, Ohio.
The building is located at 13200 Fairhill Road in Shaker Heights, Ohio.
Key Highlights
- 10 suites across 10,959 square feet
- Fully occupied apartment building
- Separate heat and electric for each suite
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,334
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,166,680
$2.2M
Cap Rate 7%
$1,547,629
$1.5M
Cap Rate 9%
$1,203,711
$1.2M
Market Conditions
NOI Build-Up for 10,959 SF
Gross rent
$209.1K $19.08/SF
− Vacancy
−$12.1K −$1.11/SF
EGI
$197.0K $17.97/SF
− OpEx
−$88.6K −$8.09/SF
NOI
$108.3K $9.89/SF
Area
Cuyahoga County, OH
Vacancy
5.80%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,166,680
Cap Rate 7%
$1,547,629
Cap Rate 9%
$1,203,711
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.35M – $1.81M
NOI $108,334 @ 7.0% cap · market cap 8.43%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$8.78M
$7.68M – $10.24M
NOI $614,658 @ 7.0% cap · market cap 47.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
10
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Explore this area
Business Placement
Demographics for 44120, OH
34,611
Population
20,583
Households
1.7
Avg Household Size
40
Median Age
37%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
6,656
Density / Sq Mi
$46,326
Median Household Income
$36,549
Median Earnings
$890
Median Rent
$115,700
Median Home Value
Market
Properties on Market for Apartment buildings in Cuyahoga County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Residents have separate heat and electric, with updates completed in portions of the building.
Where is this apartment building located?
The property is located at 13200 Fairhill Road Shaker Heights, OH.
What is the asking price?
The asking price for this property is $1,285,000.
What are key features of this property?
This property features: 10 suites across 10,959 square feet; Fully occupied apartment building; Separate heat and electric for each suite
