Mixed-Use Building with Retail
New
For Sale
$299,900
5011 Clark Ave, Cleveland, OH 44102
The two-story property combines an operating storefront with two updated apartments, offering both commercial and residential space.
Property Size2,668 SF
Price / SF$112.41
Days on Market2
Property Features for 5011 Clark Ave
General Information
Standard status
Active
Size
2,668 SF
Building Details
Year Built
1890
Listing Agency:
B2B Realty
Listed By:
Ryan Walsh · License #2023006206
(330) 780-5575
Source:
Theacclaimedrealty
Added: Sep 26
Last Checked: Sep 26 at 2:49PM
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 B2B Realty
Investment Insights
Based on property information with market context.
This 2,668-square-foot, two-story mixed-use building includes a 984-square-foot retail storefront and two updated two-bedroom apartments totaling 1,684 square feet. The storefront is occupied by a business with a lease running through 09/30/2027; both apartments are vacant. A basement beneath the retail space provides a private restroom, storage, and utility areas. Heating is provided by baseboard and forced-air systems, with wall-unit cooling. The property has public water and sewer connections.
Located at 5011 Clark Ave in Cleveland, the building has on-street parking and access to public transportation. Downtown, Ohio City, Tremont, and University Circle are among the named destinations, with major commuter routes also accessible.
Located at 5011 Clark Ave in Cleveland, the building has on-street parking and access to public transportation. Downtown, Ohio City, Tremont, and University Circle are among the named destinations, with major commuter routes also accessible.
Key Highlights
- 2,668‑square‑foot, two‑story mixed‑use building
- 984‑square‑foot storefront leased through 09/30/2027
- Two updated two‑bedroom apartments totaling 1,684 square feet
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
$25,633
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
8.55%
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%
$512,660
$512.7K
Cap Rate 7%
$366,186
$366.2K
Cap Rate 9%
$284,811
$284.8K
Market Conditions
NOI Build-Up for 2,668 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
$40.0K $15.00/SF
− Vacancy
−$3.4K −$1.28/SF
EGI
$36.6K $13.73/SF
− OpEx
−$11.0K −$4.12/SF
NOI
$25.6K $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%
$512,660
Cap Rate 7%
$366,186
Cap Rate 9%
$284,811
Alternative Uses
Best Use
Apartment 5plus
$422.6K
$369.8K – $493.1K
NOI $29,583 @ 7.0% cap · market cap 9.86%
Second Best
Retail
$366.2K
$320.4K – $427.2K
NOI $25,633 @ 7.0% cap · market cap 8.55%
Theoretical Best
Office A
$651.1K
$569.7K – $759.6K
NOI $45,575 @ 7.0% cap · market cap 15.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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 Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The two-story property combines an operating storefront with two updated apartments, offering both commercial and residential space.
Where is this mixed-use property located?
The property is located at 5011 Clark Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2,668‑square‑foot, two‑story mixed‑use building; 984‑square‑foot storefront leased through 09/30/2027; Two updated two‑bedroom apartments totaling 1,684 square feet
