Renovated Mixed-Use
For Sale
$319,900
5007 Clark Avenue, Cleveland, OH 44102
Two commercial storefronts and two apartments provide a combined retail and residential configuration.
Property Size2,820 SF
Price / SF$113.44
Days on Market11
Property Features for 5007 Clark Avenue
General Information
Standard status
Active
Size
2,820 SF
Property subtype
Mixed Use
Additional Details
Gross Income
$43,470
Taxes and HOA fees
Annual Taxes
$3,472
Amenities
Window Air Conditioning
3
Asphalt
Parking.
4 Parking Spaces. Off Street.
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
(216) 218-4716
Listed By:
Progressive Urban Real Estate Co
(216) 218-4716
Source:
Xome
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 30 at 2:12PM
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.
Located at 5007 Clark Avenue in Cleveland, this mixed-use property combines two commercial storefronts with two residential apartments. The commercial spaces are occupied by a barbershop and a clothing and jewelry store, while the apartments add residential accommodation within the same building.
The 2,820-square-foot property has undergone remodeling with updated kitchens, stainless steel appliances, newer finishes, and refreshed living areas. Mechanical systems and the roof have been replaced with new installations. Additional features include window air conditioning and four off-street parking spaces on an asphalt surface.
Built in 1910, the property is situated in Cleveland’s Stockyards area with access to surrounding neighborhoods, major roadways, shopping, employment centers, and downtown Cleveland.
The 2,820-square-foot property has undergone remodeling with updated kitchens, stainless steel appliances, newer finishes, and refreshed living areas. Mechanical systems and the roof have been replaced with new installations. Additional features include window air conditioning and four off-street parking spaces on an asphalt surface.
Built in 1910, the property is situated in Cleveland’s Stockyards area with access to surrounding neighborhoods, major roadways, shopping, employment centers, and downtown Cleveland.
Key Highlights
- 2,820‑square‑foot mixed‑use property at 5007 Clark Avenue, Cleveland, OH 44102
- Two commercial storefronts paired with two residential apartments
- Commercial spaces include a barbershop and clothing and jewelry store
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
$27,093
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
8.47%
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%
$541,860
$541.9K
Cap Rate 7%
$387,043
$387.0K
Cap Rate 9%
$301,033
$301.0K
Market Conditions
NOI Build-Up for 2,820 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
$42.3K $15.00/SF
− Vacancy
−$3.6K −$1.28/SF
EGI
$38.7K $13.73/SF
− OpEx
−$11.6K −$4.12/SF
NOI
$27.1K $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 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%
$541,860
Cap Rate 7%
$387,043
Cap Rate 9%
$301,033
Alternative Uses
Best Use
Apartment 5plus
$446.7K
$390.9K – $521.1K
NOI $31,268 @ 7.0% cap · market cap 9.77%
Second Best
Retail
$387.0K
$338.7K – $451.6K
NOI $27,093 @ 7.0% cap · market cap 8.47%
Theoretical Best
Office A
$688.2K
$602.2K – $802.9K
NOI $48,172 @ 7.0% cap · market cap 15.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
565
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Retail in Cleveland, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial storefronts and two apartments provide a combined retail and residential configuration.
Where is this mixed-use property located?
The property is located at 5007 Clark Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: 2,820‑square‑foot mixed‑use property at 5007 Clark Avenue, Cleveland, OH 44102; Two commercial storefronts paired with two residential apartments; Commercial spaces include a barbershop and clothing and jewelry store
