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.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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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
