Established Cleveland Convenience Store
For Sale
Contact for pricing
Pending
15315 Bartlett Ave, Cleveland, OH 44120
Established convenience store for sale with real estate and expansion potential.
Property Size1,440 SF
Days on Market295
Property Features for 15315 Bartlett Ave
General Information
Standard status
Pending
Size
1,440 SF
Property subtype
Retail
Zoning
Retail
Building Details
Stories
1
Listing Agency:
Amherst-Russell Real Estate Services
Listed By:
Hamzah Najar · License #OH 2019007599
Source:
Crexi
Added: Oct 28, 2025
Changed: Aug 16
Last Checked: Aug 17 at 5:21AM
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 Amherst-Russell Real Estate Services
Investment Insights
Based on property information with market context.
An established convenience store is available for purchase, including the real estate located at 15315 Bartlett Ave in Cleveland. The property features a 1,440 SF retail space, accompanied by two adjacent parcels that offer opportunities for future expansion. The sale encompasses both the business and the real estate. The store is currently operational, running from 9AM to 9PM Monday through Saturday, and from 9AM to 8PM on Sundays. There is potential for growth by extending operating hours and incorporating additional services such as an ATM, deli, money orders, bill pay, and check cashing. Beer and wine licenses are already in place, and lottery and EBT approval is in progress. Recent upgrades have been completed throughout the property, ensuring a turnkey operation.
Key Highlights
- Established convenience store business and real estate included in sale.
- High‑visibility location with potential for growth.
- Two adjacent parcels included, offering expansion possibilities.
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
$18,079
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
3.62%
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%
$361,580
$361.6K
Cap Rate 7%
$258,271
$258.3K
Cap Rate 9%
$200,878
$200.9K
Market Conditions
NOI Build-Up for 1,440 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
$25.9K $18.00/SF
− Vacancy
−$1.8K −$1.26/SF
EGI
$24.1K $16.74/SF
− OpEx
−$6.0K −$4.19/SF
NOI
$18.1K $12.56/SF
Area
Cleveland, OH
Vacancy
7.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$361,580
Cap Rate 7%
$258,271
Cap Rate 9%
$200,878
Alternative Uses
Best Use
Specialty Retail
$258.3K
$226.0K – $301.3K
NOI $18,079 @ 7.0% cap · market cap 3.62%
Second Best
Retail
$197.6K
$172.9K – $230.6K
NOI $13,835 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$351.4K
$307.5K – $410.0K
NOI $24,598 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Under-served
Demand for This Use
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
Vacancy Rate% for Retail in Cleveland, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Established convenience store for sale with real estate and expansion potential.
Where is this grocery and convenience store located?
The property is located at 15315 Bartlett Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Established convenience store business and real estate included in sale.; High‑visibility location with potential for growth.; Two adjacent parcels included, offering expansion possibilities.
