Mixed-Use Building with
New
For Sale
$309,000
5007 Clark Avenue, Cleveland, OH 44102
ResidentialIncome, Cleveland, OH
Property Size2,785 SF
Lot Size0.11 Acres
Price / SF$110.95
Days on Market2
Property Features for 5007 Clark Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 4, Laundry Room, Bedroom 3, Bathroom 1, Bedroom 1, Basement, Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 3
Parking features
Parking Lot
Subdivision
James Hoyts
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
On Clark Avenue, between W 52nd Street and W 50th Street
Standard status
Active
APN
016-11-048
Size
2,785 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
47 HOYT 0008 ALL
Tax Annual Amount
3472
Legal Description
47 HOYT 0008 ALL
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
privacy fence
basement storage
Building Details
Year built
1910
Floors in Building
2
Building materials
Brick
Roof type
Fiberglass, Asphalt
Listing Agency:
RE/MAX Haven Realty · RE/MAX International
(440) 519-3100
Listed By:
Michael Azzam · License #2014004734
(216) 446-7606
Added: Oct 21
Last Checked: Oct 22 at 1:06AM
MLS# 5254812
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This brick mixed-use property combines 2 commercial storefronts with 2 residential apartments in a 2,785-square-foot building on a 0.1148-acre lot. Each apartment has 2 bedrooms, 1 full bathroom, a living room, kitchen, and adjoining dining area. The building was constructed in 1910 and has forced-air heating. Improvements include newer windows, updated flooring, appliances, electrical panels and service, sewer lines, furnaces, hot water tanks, and a roof approximately one year old. Laundry equipment and basement storage are also present.
The property is on Cleveland’s West Side, with proximity to I-90, I-71, I-490, public transportation, MetroHealth Main Campus, schools, shops, parks, and restaurants. Public water and sewer serve the property.
Four rear parking spaces provide off-street parking. A privacy fence separates the backyard areas associated with the residential spaces.
The property is on Cleveland’s West Side, with proximity to I-90, I-71, I-490, public transportation, MetroHealth Main Campus, schools, shops, parks, and restaurants. Public water and sewer serve the property.
Four rear parking spaces provide off-street parking. A privacy fence separates the backyard areas associated with the residential spaces.
Key Highlights
- 2 commercial storefronts and 2 residential apartments
- Each apartment has 2 bedrooms and 1 full bathroom
- 2,785 square feet on a 0.1148‑acre lot
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
Apartment 5plus
$441.1K
$386.0K – $514.7K
NOI $30,880 @ 7.0% cap · market cap 9.99%
Second Best
Retail
$382.2K
$334.5K – $446.0K
NOI $26,757 @ 7.0% cap · market cap 8.66%
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.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Cleveland, OH
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four rear spaces provide off-street parking for residents and commercial occupants.
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 $309,000.
What are key features of this property?
This property features: 2 commercial storefronts and 2 residential apartments; Each apartment has 2 bedrooms and 1 full bathroom; 2,785 square feet on a 0.1148‑acre lot
