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2222 St Clair Ave NE, Cleveland, OH 44114
Bars & Pubs
Property Size7,218 SF
Price / SF$166.25
Days on Market801
Property Features for 2222 St Clair Ave NE
General Information
Standard status
Active
Size
7,218 SF
Class
B
Property subtype
Retail
Zoning
SI-6
Building Details
Year Built
1986
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Green Bridge Real Estate
(216) 469-0030
Listed By:
John Wagner · License #BRK 2010003646
Source:
Crexi
Added: Jun 15, 2024
Changed: Aug 14
Last Checked: Aug 23 at 11:50AM
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 Green Bridge Real Estate
Investment Insights
Based on property information with market context.
Key Highlights
- Turn‑key operation for immediate cash flow.
- D5 and D6 liquor licenses available.
- Fully equipped kitchen with hood.
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
$90,622
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
7.55%
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%
$1,812,440
$1.8M
Cap Rate 7%
$1,294,600
$1.3M
Cap Rate 9%
$1,006,911
$1.0M
Market Conditions
NOI Build-Up for 7,218 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
$129.9K $18.00/SF
− Vacancy
−$9.1K −$1.26/SF
EGI
$120.8K $16.74/SF
− OpEx
−$30.2K −$4.19/SF
NOI
$90.6K $12.56/SF
Area
Cleveland, OH
Vacancy
7.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,812,440
Cap Rate 7%
$1,294,600
Cap Rate 9%
$1,006,911
Alternative Uses
Best Use
Specialty Retail
$1.29M
$1.13M – $1.51M
NOI $90,622 @ 7.0% cap · market cap 7.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,300 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,718
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44114, OH
7,622
Population
5,151
Households
1.5
Avg Household Size
32
Median Age
47%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
2,541
Density / Sq Mi
$45,400
Median Household Income
$39,915
Median Earnings
$1,296
Median Rent
$112,900
Median Home Value
Market
Vacancy Rate% for Retail in Cleveland, OH
Questions? Ask Rey
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Frequently Asked Questions
Where is this bar & pub located?
The property is located at 2222 St Clair Ave NE Cleveland, OH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Turn‑key operation for immediate cash flow.; D5 and D6 liquor licenses available.; Fully equipped kitchen with hood.
