Multifamily Property with Detached
New
For Sale
$404,900
2200-2202 Wyandotte Avenue 2202, Lakewood, OH 44107
Natural gas forced-air heating, a balcony, and range and refrigerator appliances are among the property’s features.
Property Size3,133 SF
Price / SF$129.24
Days on Market2
Property Features for 2200-2202 Wyandotte Avenue 2202
General Information
Standard status
Active
Size
3,133 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,403
Amenities
Other
Natural Gas, Forced Air
Unfinished
Range, Refrigerator
Detached, Garage
Balcony
Building Details
Year Built
1922
Buildings
1
Stories
3
Listing Agency:
Coldwell Banker Schmidt Realty
Listed By:
Carol Paulenske · License #2020005872
(440) 263-4074
Source:
Evrealestate
Added: Oct 19
Last Checked: Oct 19 at 2:49PM
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 Coldwell Banker Schmidt Realty
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Investment Insights
Based on property information with market context.
This 3,133-square-foot multifamily property at 2200-2202 Wyandotte Avenue in Lakewood includes a detached garage and a balcony. The property was built in 1922 and has natural gas forced-air heating, a range, and a refrigerator. An unfinished area is also noted among its interior features.
Key Highlights
- 3,133 square feet of property area
- Detached garage and balcony
- Natural gas forced‑air heating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,971
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$619,420
$619.4K
Cap Rate 7%
$442,443
$442.4K
Cap Rate 9%
$344,122
$344.1K
Market Conditions
NOI Build-Up for 3,133 SF
Gross rent
$59.8K $19.08/SF
− Vacancy
−$3.5K −$1.11/SF
EGI
$56.3K $17.97/SF
− OpEx
−$25.3K −$8.09/SF
NOI
$31.0K $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%
$619,420
Cap Rate 7%
$442,443
Cap Rate 9%
$344,122
Alternative Uses
Best Use
Apartment 5plus
$442.4K
$387.1K – $516.2K
NOI $30,971 @ 7.0% cap · market cap 7.65%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.51M
$2.20M – $2.93M
NOI $175,721 @ 7.0% cap · market cap 43.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 44107, OH
51,109
Population
29,101
Households
1.8
Avg Household Size
36
Median Age
54%
College-Educated
95%
High-School Grad
5.4 sq mi
ZIP Area
9,465
Density / Sq Mi
$65,778
Median Household Income
$49,285
Median Earnings
$1,011
Median Rent
$241,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Natural gas forced-air heating, a balcony, and range and refrigerator appliances are among the property’s features.
Where is this multifamily property located?
The property is located at 2200-2202 Wyandotte Avenue 2202 Lakewood, OH.
What is the asking price?
The asking price for this property is $404,900.
What are key features of this property?
This property features: 3,133 square feet of property area; Detached garage and balcony; Natural gas forced‑air heating
