Flex Space
For Sale
$800,000
3610-3620 Superior Ave, Cleveland, OH 44114
Two-building property with warehouse space, a former restaurant kitchen, and dedicated parking across multiple parcels.
Property Size16,560 SF
Price / SF$48.31
Days on Market49
Property Features for 3610-3620 Superior Ave
General Information
Standard status
Active
Size
16,560 SF
Building Details
Year Built
1910
Listing Agency:
HomeSmart Real Estate Momentum LLC
Listed By:
Qionglian Jacques · License #2016001957
(216) 612-1908
Source:
Theacclaimedrealty
Added: Aug 19
Changed: Sep 14
Last Checked: Oct 5 at 8:12PM
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 HomeSmart Real Estate Momentum LLC
Investment Insights
Based on property information with market context.
This multi-parcel flex property combines two buildings with additional land and parking. The 4,644-square-foot building at 3610 Superior includes an existing commercial kitchen and was previously used as a restaurant and bar. At 3620 Superior, the 16,560-square-foot, two-story building offers warehouse space, a 13-foot ceiling, and an updated metal roof; its prior use was retail. The buildings are zoned for light industrial use, while the vacant land carries two-family zoning.
The property includes a 65-space parking lot at 3432 Superior, with potential for additional parking noted in the property information. The assemblage is located in Cleveland’s Asian Town and sits on Major Bus Line No. 3. Included parcels are 102-29-011, 102-29-012, 102-29-008, and 102-29-131.
The property includes a 65-space parking lot at 3432 Superior, with potential for additional parking noted in the property information. The assemblage is located in Cleveland’s Asian Town and sits on Major Bus Line No. 3. Included parcels are 102-29-011, 102-29-012, 102-29-008, and 102-29-131.
Key Highlights
- 16,560 SF two‑story building at 3620 Superior
- 4,644 SF building with commercial kitchen at 3610 Superior
- 13‑foot ceiling and updated metal roof at 3620 Superior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,034
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,360,680
$1.4M
Cap Rate 7%
$971,914
$971.9K
Cap Rate 9%
$755,933
$755.9K
Market Conditions
NOI Build-Up for 16,560 SF
Gross rent
$101.3K $6.12/SF
− Vacancy
−$4.2K −$0.25/SF
EGI
$97.2K $5.87/SF
− OpEx
−$29.2K −$1.76/SF
NOI
$68.0K $4.11/SF
Area
Cleveland, OH
Vacancy
4.10%
Lease Rate
$6.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,360,680
Cap Rate 7%
$971,914
Cap Rate 9%
$755,933
Alternative Uses
Best Use
Retail
$2.27M
$1.99M – $2.65M
NOI $159,100 @ 7.0% cap · market cap 19.89%
Second Best
Flex RnD
$1.30M
$1.14M – $1.52M
NOI $91,063 @ 7.0% cap · market cap 11.38%
Theoretical Best
Office A
$4.04M
$3.54M – $4.71M
NOI $282,882 @ 7.0% cap · market cap 35.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,773
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44114, OH
7,622
Population
5,151
Households
1.5
Avg Household Size
32
Median Age
47%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
2,541
Density / Sq Mi
$45,400
Median Household Income
$39,915
Median Earnings
$1,296
Median Rent
$112,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Cleveland, OH
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Frequently Asked Questions
What type of property is this?
Flex space - Two-building property with warehouse space, a former restaurant kitchen, and dedicated parking across multiple parcels.
Where is this flex space located?
The property is located at 3610-3620 Superior Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 16,560 SF two‑story building at 3620 Superior; 4,644 SF building with commercial kitchen at 3610 Superior; 13‑foot ceiling and updated metal roof at 3620 Superior
