Storefront
New
For Sale
$1,200,000
5517 Memphis, Cleveland, OH 44144
Business-related materials and property are included with the sale.
Property Size3,769 SF
Days on Market7
Property Features for 5517 Memphis
General Information
Standard status
Active
Size
3,769 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$9,624
Building Details
Building Size
3,769 SF
Year Built
1968
Listing Agency:
RE/MAX Omega
Listed By:
Shaher Hassanain · License #2022005976
(216) 559-9609
Source:
Asacoxhomes
Added: Oct 9
Changed: Oct 13
Last Checked: Oct 14 at 7:37PM
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 Omega
Investment Insights
Based on property information with market context.
The storefront property was built in 1968. Business-related materials and property are included in the sale, with inventory details available through the agent.
Key Highlights
- Built in 1968
- Business‑related materials and property are included with the sale
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,211
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$724,220
$724.2K
Cap Rate 7%
$517,300
$517.3K
Cap Rate 9%
$402,344
$402.3K
Market Conditions
NOI Build-Up for 3,769 SF
Gross rent
$56.5K $15.00/SF
− Vacancy
−$4.8K −$1.28/SF
EGI
$51.7K $13.73/SF
− OpEx
−$15.5K −$4.12/SF
NOI
$36.2K $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%
$724,220
Cap Rate 7%
$517,300
Cap Rate 9%
$402,344
Alternative Uses
Best Use
Retail
$517.3K
$452.6K – $603.5K
NOI $36,211 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$919.8K
$804.8K – $1.07M
NOI $64,383 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
489
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44144, OH
21,361
Population
9,994
Households
2.1
Avg Household Size
42
Median Age
20%
College-Educated
88%
High-School Grad
5.5 sq mi
ZIP Area
3,884
Density / Sq Mi
$59,775
Median Household Income
$37,318
Median Earnings
$923
Median Rent
$138,000
Median Home Value
Market
Vacancy Rate% for Retail in Cleveland, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Flowerama — 5401 Memphis Ave, Cleveland, OH 44144
Frequently Asked Questions
What type of property is this?
Storefront property - Business-related materials and property are included with the sale.
Where is this storefront property located?
The property is located at 5517 Memphis Cleveland, OH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Built in 1968; Business‑related materials and property are included with the sale
