Industrial Property with
New
For Sale
$399,900
16801 S Miles Road, Cleveland, OH 44128
CommercialSale, Cleveland, OH
Property Size5,056 SF
Lot Size2.34 Acres
Price / SF$79.09
Days on Market2
Property Features for 16801 S Miles Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial - Light
Subdivision
Lee Heights Allotment
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
South on Lee Road, East on South Miles
Standard status
Active
APN
143-10-024
Lot size
2.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SL 20-23 FF 165.00 D 157.00 0.5948AC OL 83 2012S/R OL 83 SUBLOTS 7-19 FF 503.81 D 155.09 1.7417 AC UNCOMBINED 2013 SR
Tax Annual Amount
6332
Legal Description
SL 20-23 FF 165.00 D 157.00 0.5948AC OL 83 2012S/R OL 83 SUBLOTS 7-19 FF 503.81 D 155.09 1.7417 AC UNCOMBINED 2013 SR
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1940
Listing Agency:
Keller Williams Greater Metropolitan · Keller Williams Realty
(216) 839-5500
Listed By:
Jermaine N Brooks · License #2014001709
(216) 224-4326
Added: Oct 22
Last Checked: Oct 23 at 8:06AM
MLS# 5255184
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The 2.337-acre property comprises two parcels with two single-story industrial buildings totaling 5,056 square feet. One building includes a 2,896-square-foot service garage, 360 square feet of office space, and a 700-square-foot unfinished mezzanine; the second building contains 2,160 square feet. The buildings date to 1940, and the property is currently used as a salvage yard.
The site is near the Lee Road and Miles Avenue corridors, with regional connections to I-480. It is also near an established railroad corridor. Public water and public sewer serve the property.
The site is near the Lee Road and Miles Avenue corridors, with regional connections to I-480. It is also near an established railroad corridor. Public water and public sewer serve the property.
Key Highlights
- 2.337 acres across two parcels
- Two single‑story industrial buildings totaling 5,056 square feet
- 2,896‑square‑foot service garage with 360 square feet of office space and a 700‑square‑foot unfinished mezzanine
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,772
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,440
$415.4K
Cap Rate 7%
$296,743
$296.7K
Cap Rate 9%
$230,800
$230.8K
Market Conditions
NOI Build-Up for 5,056 SF
Gross rent
$30.9K $6.12/SF
− Vacancy
−$1.3K −$0.25/SF
EGI
$29.7K $5.87/SF
− OpEx
−$8.9K −$1.76/SF
NOI
$20.8K $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%
$415,440
Cap Rate 7%
$296,743
Cap Rate 9%
$230,800
Alternative Uses
Best Use
Industrial
$296.7K
$259.7K – $346.2K
NOI $20,772 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,368 @ 7.0% cap · market cap 21.60%
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
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Explore this area
Business Placement
Demographics for 44128, OH
28,146
Population
14,184
Households
2
Avg Household Size
41
Median Age
18%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
3,198
Density / Sq Mi
$44,615
Median Household Income
$32,719
Median Earnings
$957
Median Rent
$90,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Cleveland, OH
Frequently Asked Questions
What type of property is this?
Industrial property - Two parcels combine industrial buildings, outdoor space, and public water and sewer service.
Where is this industrial property located?
The property is located at 16801 S Miles Road Cleveland, OH.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 2.337 acres across two parcels; Two single‑story industrial buildings totaling 5,056 square feet; 2,896‑square‑foot service garage with 360 square feet of office space and a 700‑square‑foot unfinished mezzanine
