Brick Duplex with Three-Car
For Sale
$369,900
18518 Newell Road, Shaker Heights, OH 44122
ResidentialIncome, Shaker Heights, OH
Property Size3,267 SF
Lot Size0.15 Acres
Price / SF$113.22
Days on Market47
Property Features for 18518 Newell Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 2, Basement, Bedroom 7, Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 1, Bedroom 6, Bedroom 1, Bedroom 5
Parking features
Garage
Elementary school district
Shaker Heights CSD - 1827
Middle school district
Shaker Heights CSD - 1827
High school district
Shaker Heights CSD - 1827
Directions
From I-271, take the Chagrin Blvd exit and head west. Continue west on Chagrin Blvd, then turn right onto Lee Rd. Turn left onto Newell Rd and continue to 18518 Newell Rd, Shaker Heights, OH.
Standard status
Active
APN
736-20-020
Size
3,267 SF
Lot size
0.15 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9060
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Water front
1
Building Details
Year built
1927
Floors in Building
3
Building materials
Brick, Stone, Stucco
Roof type
Asphalt
Listing Agency:
Elite Sotheby's International Realty
(440) 290-4800
Listed By:
Alex Severyn · License #2024005022
(716) 359-1155
Added: Sep 17
Changed: Oct 29
Last Checked: Nov 2 at 2:06PM
MLS# 5245993
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.
This 1927 duplex at 18518 Newell Road contains 3267 square feet on a 0.148-acre lot. The building features brick, stone, and stucco construction, asphalt roofing, natural gas forced-air heat, and public water and sewer service. Recent work includes plumbing improvements and updated kitchens equipped with stainless steel appliances. A three-car garage provides dedicated parking and additional utility.
The property is currently leased, with the units utilized by Beechmont Country Club. The asset is located in Shaker Heights, Ohio, within Cuyahoga County. Its residential configuration, existing lease status, upgraded kitchens, and substantial garage complement the physical improvements for an owner seeking an income-producing duplex.
The property is currently leased, with the units utilized by Beechmont Country Club. The asset is located in Shaker Heights, Ohio, within Cuyahoga County. Its residential configuration, existing lease status, upgraded kitchens, and substantial garage complement the physical improvements for an owner seeking an income-producing duplex.
Key Highlights
- 3267 square feet on a 0.148‑acre lot
- Currently leased with units utilized by Beechmont Country Club
- Three‑car garage provides dedicated parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,295
Cap Rate
8.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$645,900
$645.9K
Cap Rate 7%
$461,357
$461.4K
Cap Rate 9%
$358,833
$358.8K
Market Conditions
NOI Build-Up for 3,267 SF
Gross rent
$62.3K $19.08/SF
− Vacancy
−$3.6K −$1.11/SF
EGI
$58.7K $17.97/SF
− OpEx
−$26.4K −$8.09/SF
NOI
$32.3K $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%
$645,900
Cap Rate 7%
$461,357
Cap Rate 9%
$358,833
Alternative Uses
Best Use
Multifamily LT 5
$494.9K
$433.0K – $577.3K
NOI $34,640 @ 7.0% cap · market cap 9.36%
Second Best
Apartment 5plus
$461.4K
$403.7K – $538.3K
NOI $32,295 @ 7.0% cap · market cap 8.73%
Theoretical Best
Warehouse
$2.62M
$2.29M – $3.05M
NOI $183,236 @ 7.0% cap · market cap 49.54%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
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Business Placement
Demographics for 44122, OH
36,268
Population
17,795
Households
2
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
12.5 sq mi
ZIP Area
2,901
Density / Sq Mi
$97,469
Median Household Income
$58,334
Median Earnings
$1,509
Median Rent
$304,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Leased residential property with stainless steel appliances and recent bathroom plumbing upgrades.
Where is this duplex located?
The property is located at 18518 Newell Road Shaker Heights, OH.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 3267 square feet on a 0.148‑acre lot; Currently leased with units utilized by Beechmont Country Club; Three‑car garage provides dedicated parking
