Two-Story Mixed-Use
3240 W 98th Street, Cleveland, OH 44102
For Sale
New
$1,249,000
The property combines five ground-level retail spaces with 12 apartments and shared basement laundry.
Property Size15,607 SF
Days on Market5
Property Features for 3240 W 98th Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Corner Location
Highway Access
Public Transit
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Additional Details
Cap Rate
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
on-site laundry
Building Details
Building Size
Year Built
Buildings
Stories
Construction
Tenancy
Listing Agency:
Keller Williams Citywide
Listed By:
James P Matheos · License #2015001911
(440) 847-9033
Source:
Asacoxhomes
Added: Nov 2
Changed: Nov 4
Last Checked: Nov 6 at 5:02AM
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 Keller Williams Citywide
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Investment Insights
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This two-story, all-brick mixed-use building dates to 1928 and contains 17 units: five retail spaces and 12 apartments. The residential mix comprises four two-bedroom/one-bath units, seven one-bedroom/one-bath units, and one studio/one-bath unit. Coin-operated laundry is located in the basement. Recent common-area work includes refreshed paint, doors, walls, hallways, and entries, along with LED lighting. The boiler has an automatic feeder and low-water shutoff, with scheduled professional maintenance and thermostat management. The property has 12 rear parking spaces, security lighting, and cameras.
Bus and rail service are within walking distance, and I-90 and I-71 provide regional road access. Bus stops are located outside the property. The listing reports a 7.0% cap rate as-is and a 9% pro forma cap rate based on adjustments. Professional management is currently in place and may continue if desired.
Bus and rail service are within walking distance, and I-90 and I-71 provide regional road access. Bus stops are located outside the property. The listing reports a 7.0% cap rate as-is and a 9% pro forma cap rate based on adjustments. Professional management is currently in place and may continue if desired.
Key Highlights
- 17 units: 5 retail spaces and 12 apartments
- Apartment mix: 4 two‑bedroom/one‑bath, 7 one‑bedroom/one‑bath, and 1 studio/one‑bath
- 12 rear parking spaces with security lighting and cameras
Property Analytics
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Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
555
Businesses Nearby
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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
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Market
Properties on Market for Mixed-use properties in Cleveland
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines five ground-level retail spaces with 12 apartments and shared basement laundry.
Where is this mixed-use property located?
The property is located at 3240 W 98th Street Cleveland, OH.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: 17 units: 5 retail spaces and 12 apartments; Apartment mix: 4 two‑bedroom/one‑bath, 7 one‑bedroom/one‑bath, and 1 studio/one‑bath; 12 rear parking spaces with security lighting and cameras
