Cleveland Parking Lot For
For Sale
$549,900
2032 W 105th Street, Cleveland, OH 44102
Parking lot available for sale in Cleveland, Ohio.
Property Size9,742 SF
Days on Market321
Property Features for 2032 W 105th Street
General Information
Standard status
Active
Size
9,742 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,818
Building Details
Building Size
9,742 SF
Year Built
1930
Listing Agency:
HomeSmart Real Estate Momentum LLC
(440) 578-8058
Listed By:
Adam W Burr · License #2017003813
(440) 759-7059
Source:
Carolgoffrealestate
Added: Oct 23, 2025
Changed: Sep 8
Last Checked: Sep 8 at 8:09AM
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 HomeSmart Real Estate Momentum LLC
Investment Insights
Based on property information with market context.
Located off W 106th St, the parking lot is situated at the back of the building. From Madison Ave, turning south onto W 106th St provides access to the parking lot on the left-hand side. The property is located in Cleveland, Cuyahoga County, Ohio.
Key Highlights
- Central air conditioning for year‑round comfort
- Natural gas heating
- Forced air heating system
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
$40,024
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
7.28%
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%
$800,480
$800.5K
Cap Rate 7%
$571,771
$571.8K
Cap Rate 9%
$444,711
$444.7K
Market Conditions
NOI Build-Up for 9,742 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
$59.6K $6.12/SF
− Vacancy
−$2.4K −$0.25/SF
EGI
$57.2K $5.87/SF
− OpEx
−$17.2K −$1.76/SF
NOI
$40.0K $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 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%
$800,480
Cap Rate 7%
$571,771
Cap Rate 9%
$444,711
Alternative Uses
Best Use
Retail
$1.34M
$1.17M – $1.56M
NOI $93,596 @ 7.0% cap · market cap 17.02%
Second Best
Industrial
$571.8K
$500.3K – $667.1K
NOI $40,024 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$2.38M
$2.08M – $2.77M
NOI $166,415 @ 7.0% cap · market cap 30.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
796
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44102, OH
43,347
Population
22,984
Households
1.9
Avg Household Size
35
Median Age
25%
College-Educated
80%
High-School Grad
6.1 sq mi
ZIP Area
7,106
Density / Sq Mi
$40,303
Median Household Income
$34,958
Median Earnings
$911
Median Rent
$99,300
Median Home Value
Market
Vacancy Rate% for Retail in Cleveland, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Tool & Truck Rental Center at The Home Depot — 11901 Berea Rd, Cleveland, OH 44111
- U-Haul Neighborhood Dealer — 11705 Berea Rd, Cleveland, OH 44111
- U-Haul Neighborhood Dealer — 11600 Berea Rd, Cleveland, OH 44102
- Hertz / Uber Rentals — 11800 Madison Ave, Lakewood, OH 44107
- U-Haul Neighborhood Dealer — 1553 W 117th St, Lakewood, OH 44107
Frequently Asked Questions
What type of property is this?
Parking lot & garage - Parking lot available for sale in Cleveland, Ohio.
Where is this parking lot & garage located?
The property is located at 2032 W 105th Street Cleveland, OH.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Central air conditioning for year‑round comfort; Natural gas heating; Forced air heating system
