Superior Avenue Automotive
For Sale
Contact for pricing
4616 Superior Ave, Cleveland, OH 44103
Auto shop with high visibility and recent upgrades for sale.
Property Size8,091 SF
Price / SF$80.34
Days on Market196
Property Features for 4616 Superior Ave
General Information
Standard status
Active
Size
8,091 SF
Property subtype
Industrial
Building Details
Year Built
1974
Tenancy
Single
Listing Agency:
Cushman & Wakefield | CRESCO Real Estate
(216) 525-1487
Listed By:
Eliot Kijewski · License #OH SAL.2003003809
Source:
Crexi
Added: Feb 7
Changed: Aug 15
Last Checked: Aug 22 at 6:44AM
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 Cushman & Wakefield | CRESCO Real Estate
Investment Insights
Based on property information with market context.
This property features a fully functioning paint booth and high visibility on Superior Avenue, which sees approximately 14,000 vehicles per day. Recent upgrades include interior and exterior paint, LED lighting, office renovations, and radiant tube heat. The location is suitable for auto repair, detailing, contractors, and other businesses. The property is conveniently located near I-90, Downtown Cleveland, and a densely populated residential area, providing strong accessibility and visibility. The property size is 8091 square feet.
Key Highlights
- Fully functioning paint booth included in sale.
- High visibility location on Superior Avenue (approx. 14,000 vehicles per day).
- Suitable for auto repair, detailing, contractors, and more.
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
$33,241
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
5.11%
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%
$664,820
$664.8K
Cap Rate 7%
$474,871
$474.9K
Cap Rate 9%
$369,344
$369.3K
Market Conditions
NOI Build-Up for 8,091 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
$49.5K $6.12/SF
− Vacancy
−$2.0K −$0.25/SF
EGI
$47.5K $5.87/SF
− OpEx
−$14.2K −$1.76/SF
NOI
$33.2K $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%
$664,820
Cap Rate 7%
$474,871
Cap Rate 9%
$369,344
Alternative Uses
Best Use
Retail
$1.11M
$971.7K – $1.30M
NOI $77,734 @ 7.0% cap · market cap 11.96%
Second Best
Industrial
$474.9K
$415.5K – $554.0K
NOI $33,241 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$1.97M
$1.73M – $2.30M
NOI $138,212 @ 7.0% cap · market cap 21.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,179
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44103, OH
14,469
Population
9,479
Households
1.5
Avg Household Size
43
Median Age
12%
College-Educated
78%
High-School Grad
4.1 sq mi
ZIP Area
3,529
Density / Sq Mi
$24,219
Median Household Income
$27,495
Median Earnings
$720
Median Rent
$57,600
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
- Akron Mobile Truck Repair — 2990 Payne Ave, Cleveland, OH 44114
- Place Name Mobile Truck Repair Cleveland — 2990 Payne Ave, Cleveland, OH 44114
- Piney Auto Repair & Custom Services — 3035 Perkins Ave, Cleveland, OH 44114
- Kram & Kram Auto — 1973 E 55th St, Cleveland, OH 44103
- Cleveland Mobile Truck Repair — 2990 payne ave, cleveland, oh 44114
Frequently Asked Questions
What type of property is this?
Auto shop - Auto shop with high visibility and recent upgrades for sale.
Where is this auto shop located?
The property is located at 4616 Superior Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Fully functioning paint booth included in sale.; High visibility location on Superior Avenue (approx. 14,000 vehicles per day).; Suitable for auto repair, detailing, contractors, and more.
