Auto Shop with Retail
For Sale
$199,000
2884 Scranton Rd, Cleveland, OH 44113
Recently emptied, cleaned, and painted property with on-site parking in a high-traffic Tremont area.
Property Size1,182 SF
Lot Size0.16 Acres
Price / SF$168.36
Days on Market79
Property Features for 2884 Scranton Rd
General Information
Standard status
Active
Size
1,182 SF
Lot size
0.16 Acres
Building Details
Year Built
1950
Listing Agency:
Progressive Urban Real Estate Co
Listed By:
Elizabeth F Paskin
(216) 619-9696
Source:
Theacclaimedrealty
Added: Jul 29
Changed: Oct 4
Last Checked: Oct 7 at 1:02PM
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 Progressive Urban Real Estate Co
Investment Insights
Based on property information with market context.
This auto shop includes 1182 sq. ft. of retail space on a 6900 sq. ft. parcel. The 1950 building has served as an auto mechanic shop since 1981 and is currently emptied, cleaned, and painted. The property can accommodate continued automotive use or another retail-oriented operation, including a coffee shop.
Located at 2884 Scranton Road in Cleveland’s Tremont area, the property is positioned on the city’s west side in a high-traffic setting. On-site parking is included, adding practical convenience for customers and business operations.
Located at 2884 Scranton Road in Cleveland’s Tremont area, the property is positioned on the city’s west side in a high-traffic setting. On-site parking is included, adding practical convenience for customers and business operations.
Key Highlights
- 1182 sq. ft. of retail space on a 6900 sq. ft. parcel
- Auto mechanic shop use since 1981
- Emptied, cleaned, and painted
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,356
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,120
$227.1K
Cap Rate 7%
$162,229
$162.2K
Cap Rate 9%
$126,178
$126.2K
Market Conditions
NOI Build-Up for 1,182 SF
Gross rent
$17.7K $15.00/SF
− Vacancy
−$1.5K −$1.28/SF
EGI
$16.2K $13.73/SF
− OpEx
−$4.9K −$4.12/SF
NOI
$11.4K $9.61/SF
Area
Cleveland, OH
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,120
Cap Rate 7%
$162,229
Cap Rate 9%
$126,178
Alternative Uses
Best Use
Retail
$162.2K
$142.0K – $189.3K
NOI $11,356 @ 7.0% cap · market cap 5.71%
Second Best
Industrial
$69.4K
$60.7K – $80.9K
NOI $4,856 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$288.4K
$252.4K – $336.5K
NOI $20,191 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
857
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44113, OH
20,291
Population
12,554
Households
1.6
Avg Household Size
33
Median Age
54%
College-Educated
89%
High-School Grad
3.8 sq mi
ZIP Area
5,340
Density / Sq Mi
$70,140
Median Household Income
$61,204
Median Earnings
$1,374
Median Rent
$295,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Cleveland, OH
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Frequently Asked Questions
What type of property is this?
Auto shop - Recently emptied, cleaned, and painted property with on-site parking in a high-traffic Tremont area.
Where is this auto shop located?
The property is located at 2884 Scranton Rd Cleveland, OH.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 1182 sq. ft. of retail space on a 6900 sq. ft. parcel; Auto mechanic shop use since 1981; Emptied, cleaned, and painted
