Multifamily Income
For Sale
Contact for pricing
2000 Van Aken Boulevard, Shaker Heights, OH 44120
For sale multifamily property on Van Aken Boulevard in Shaker Heights, suited for residential income ownership.
Property Size19,237 SF
Price / SF$111.76
Days on Market110
Property Features for 2000 Van Aken Boulevard
General Information
Standard status
Active
Size
19,237 SF
Total Parking Spaces
31
Property subtype
Multifamily
Investment Type
Stabilized
Net Operating Income
$150,000
Building Details
Year Built
1952
Units
21
Tenancy
Multi
Listing Agency:
NAI Pleasant Valley
Listed By:
Evan Pannell · License #OH 2017005596
(330) 535-2661
Source:
Crexi
Added: Jun 2
Changed: Sep 7
Last Checked: Sep 18 at 8:33AM
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 NAI Pleasant Valley
Investment Insights
Based on property information with market context.
This for-sale multifamily income property is listed as “other multifamily properties” within the residential income category. The offering is represented as a single property at 2000 Van Aken Boulevard in Shaker Heights, Ohio.
The property is located on Van Aken Boulevard and is identified for sale with a stated list price. No additional details are provided in the available information regarding building configuration, unit mix, or condition.
For buyers seeking a residential income asset, this property may fit a straightforward multifamily ownership strategy, subject to confirming operating details during due diligence. As the listing data does not specify tenancy, expenses, or recent improvements, prospective buyers should review current records and physical condition to evaluate underwriting and fit.
The property is located on Van Aken Boulevard and is identified for sale with a stated list price. No additional details are provided in the available information regarding building configuration, unit mix, or condition.
For buyers seeking a residential income asset, this property may fit a straightforward multifamily ownership strategy, subject to confirming operating details during due diligence. As the listing data does not specify tenancy, expenses, or recent improvements, prospective buyers should review current records and physical condition to evaluate underwriting and fit.
Key Highlights
- Multifamily property for sale on Van Aken Boulevard in Shaker Heights, OH 44122
- Built in 1952
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
$190,164
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
8.84%
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%
$3,803,280
$3.8M
Cap Rate 7%
$2,716,629
$2.7M
Cap Rate 9%
$2,112,933
$2.1M
Market Conditions
NOI Build-Up for 19,237 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
$367.0K $19.08/SF
− Vacancy
−$21.3K −$1.11/SF
EGI
$345.8K $17.97/SF
− OpEx
−$155.6K −$8.09/SF
NOI
$190.2K $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 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%
$3,803,280
Cap Rate 7%
$2,716,629
Cap Rate 9%
$2,112,933
Alternative Uses
Best Use
Apartment 5plus
$2.72M
$2.38M – $3.17M
NOI $190,164 @ 7.0% cap · market cap 8.84%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$15.41M
$13.49M – $17.98M
NOI $1,078,947 @ 7.0% cap · market cap 50.18%
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
680
Businesses Nearby
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Multifamily property - For sale multifamily property on Van Aken Boulevard in Shaker Heights, suited for residential income ownership.
Where is this multifamily property located?
The property is located at 2000 Van Aken Boulevard Shaker Heights, OH.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Multifamily property for sale on Van Aken Boulevard in Shaker Heights, OH 44122; Built in 1952
