Mixed-Use Building with
For Sale
$295,900
5011 Clark Avenue, Cleveland, OH 44102
An occupied storefront and two updated apartments combine commercial space with residential units in one building.
Property Size2,668 SF
Price / SF$110.91
Days on Market44
Property Features for 5011 Clark Avenue
General Information
Standard status
Active
Size
2,668 SF
Property subtype
Retail
Site & Location
Neighborhood
Clark-Fulton
Public Transit
Yes
Utilities to Site
Yes
Mixed-Use Components
retail, residential
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Gross Income
$17,700
Taxes and HOA fees
Annual Taxes
$3,821
Building Details
Building Size
2,668 SF
Year Built
1890
Buildings
1
Stories
2
Listing Agency:
Life Stages Realty LLC
Listed By:
Nicolette Kuebeler · License #2022002552
(330) 322-3637
Source:
Lifestagesrealty
Added: Sep 14
Changed: Oct 27
Last Checked: Oct 27 at 3:47AM
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 Life Stages Realty LLC
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Investment Insights
Based on property information with market context.
This two-story mixed-use property, built in 1890, contains a 984-square-foot retail storefront and two updated two-bedroom apartments totaling 1,684 square feet. The storefront has a basement with a private restroom, storage, and utility areas. The commercial space is occupied under a lease running through 09/30/2027; both apartments are vacant. Total building area is 2,668 square feet.
The property has baseboard and forced-air heating, wall-unit cooling, public water and sewer, and on-street parking. Public transportation and access to downtown Cleveland, Ohio City, Tremont, University Circle, and major commuter routes are nearby.
The property has baseboard and forced-air heating, wall-unit cooling, public water and sewer, and on-street parking. Public transportation and access to downtown Cleveland, Ohio City, Tremont, University Circle, and major commuter routes are nearby.
Key Highlights
- 2,668‑square‑foot, two‑story mixed‑use building
- 984‑square‑foot retail storefront with an active business and lease through 09/30/2027
- Two updated two‑bedroom apartments with 1,684 total residential square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,633
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
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
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 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 10.00%
Second Best
Retail
$366.2K
$320.4K – $427.2K
NOI $25,633 @ 7.0% cap · market cap 8.66%
Theoretical Best
Office A
$651.1K
$569.7K – $759.6K
NOI $45,575 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - An occupied storefront and two updated apartments combine commercial space with residential units in one building.
Where is this mixed-use property located?
The property is located at 5011 Clark Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $295,900.
What are key features of this property?
This property features: 2,668‑square‑foot, two‑story mixed‑use building; 984‑square‑foot retail storefront with an active business and lease through 09/30/2027; Two updated two‑bedroom apartments with 1,684 total residential square feet
