Storefront Property with
New
For Sale
$309,000
5007 Clark Avenue, Cleveland, OH 44102
A parking lot serves this established storefront in Cleveland.
Property Size2,785 SF
Days on Market2
Property Features for 5007 Clark Avenue
General Information
Standard status
Active
Size
2,785 SF
Total Parking Spaces
4
Taxes and HOA fees
Annual Taxes
$3,472
Amenities
Forced Air
Full
Parking Lot
Building Details
Building Size
2,785 SF
Year Built
1910
Buildings
1
Stories
2
Listing Agency:
RE/MAX Haven Realty
Listed By:
Michael Azzam · License #2014004734
(216) 446-7606
Source:
Evrealestate
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 21 at 2:11AM
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 RE/MAX Haven Realty
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Investment Insights
Based on property information with market context.
Built in 1910, this storefront property has a full interior and forced-air heating. A parking lot is included with the property.
The building is at 5007 Clark Avenue in Cleveland, between W 52nd Street and W 50th Street.
The building is at 5007 Clark Avenue in Cleveland, between W 52nd Street and W 50th Street.
Key Highlights
- Storefront property built in 1910
- On‑site parking lot
- Forced‑air heating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,757
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$535,140
$535.1K
Cap Rate 7%
$382,243
$382.2K
Cap Rate 9%
$297,300
$297.3K
Market Conditions
NOI Build-Up for 2,785 SF
Gross rent
$41.8K $15.00/SF
− Vacancy
−$3.6K −$1.28/SF
EGI
$38.2K $13.73/SF
− OpEx
−$11.5K −$4.12/SF
NOI
$26.8K $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%
$535,140
Cap Rate 7%
$382,243
Cap Rate 9%
$297,300
Alternative Uses
Best Use
Retail
$382.2K
$334.5K – $446.0K
NOI $26,757 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$679.6K
$594.7K – $792.9K
NOI $47,574 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
565
Businesses Nearby
Under-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Cleveland, OH
Similar Off Market Nearby
- Walter's Flowers — 5112 Clark Ave, Cleveland, OH 44102
Frequently Asked Questions
What type of property is this?
Storefront property - A parking lot serves this established storefront in Cleveland.
Where is this storefront property located?
The property is located at 5007 Clark Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: Storefront property built in 1910; On‑site parking lot; Forced‑air heating
