Mixed-Use Investment Property with
5612 Harvard Avenue Cleveland, OH 44105
5612 Harvard Avenue, Cleveland, OH, 44105
Contact for pricing
For Sale
Contact for pricing
Two-property mixed-use package includes a bar, adjacent retail/restaurant space, and two second-floor two-bedroom apartments.
Property Size5,544 SF
Price / SF$180.38
Days on Market62
Property Features for 5612 Harvard Avenue
General Information
- Standard status
- Active
- Size
- 5,544 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1890
Listing agency
Russell Real Estate Services
Listed by
Jeannette Charara · License #OH 2019002561
Source
Crexi
Added: May 22 Updated: Jul 21 at 5:10AM Checked: Jul 21 at 5:10AM
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 Russell Real Estate Services
Investment Insights
Based on property information with market context.
This for-sale mixed-use investment package includes two properties under one ownership. The first side features a fully equipped bar with both an adult entertainment license and a liquor license included. An attached neighboring space is described as a former pizza shop and is suited for redevelopment as a restaurant, carryout, retail, or other business use. Above the commercial spaces are two second-floor two-bedroom apartments, providing additional residential rental income.
The property is located one street away from Newburgh Heights and minutes from I-77, with easy highway access noted in the remarks.
Overall, the building configuration combines ground-floor commercial space with above residential units, creating multiple potential income sources within the same property package.
The property is located one street away from Newburgh Heights and minutes from I-77, with easy highway access noted in the remarks.
Overall, the building configuration combines ground-floor commercial space with above residential units, creating multiple potential income sources within the same property package.
Key Highlights
- Mixed‑use property built in 1890 featuring two commercial spaces and two second‑floor 2‑bedroom apartments.
- Includes a fully equipped bar with an adult entertainment license and liquor license.
- Adjacent space is a former pizza shop with potential for restaurant, carryout, retail, or other business use.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $99.8k | $18.00 |
| − Vacancy | −$7.0k | −$1.26 |
| EGI | $92.8k | $16.74 |
| − OpEx | −$23.2k | −$4.19 |
| NOI | $69.6k | $12.56 |
5,544 SF · lease $18.00/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$994.4K
$870.1K – $1.16M
NOI $69,605 @ 7.0% cap · market cap 6.96%
Second Best
Multifamily LT 5
$946.7K
$828.3K – $1.10M
NOI $66,266 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,704 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bars & Pubs
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two-property mixed-use package includes a bar, adjacent retail/restaurant space, and two second-floor two-bedroom apartments.
Where is this mixed-use property located?
The property is located at 5612 Harvard Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Mixed‑use property built in 1890 featuring two commercial spaces and two second‑floor 2‑bedroom apartments.; Includes a fully equipped bar with an adult entertainment license and liquor license.; Adjacent space is a former pizza shop with potential for restaurant, carryout, retail, or other business use.
