Former Bakery Storefront
New
For Sale
Contact for pricing
6100 Memphis Ave, Cleveland, OH 44144
Commercial storefront previously operated as a bakery, offering a compact retail-oriented building footprint.
Property Size2,580 SF
Lot Size0.12 Acres
Price / SF$110.47
Days on Market5
Property Features for 6100 Memphis Ave
General Information
Standard status
Active
Size
2,580 SF
Lot size
0.12 Acres
Property subtype
RETAIL
Listing Agency:
Hanna Commercial Real Estate | Cleveland
(216) 861-5291
Listed By:
Michael J. Occhionero · License #SAL.2000007561
Source:
Moodyscre
Added: Aug 7
Changed: Aug 9
Last Checked: Aug 10 at 9:19AM
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 Hanna Commercial Real Estate | Cleveland
Investment Insights
Based on property information with market context.
This storefront property encompasses a 2,580-square-foot commercial building that formerly operated as a bakery. The existing structure offers a compact format for a buyer evaluating a small retail or storefront asset.
The property is located at 6100 Memphis Ave, Cleveland, OH 44144, on approximately 0.115 acres.
The property is located at 6100 Memphis Ave, Cleveland, OH 44144, on approximately 0.115 acres.
Key Highlights
- 2,580‑square‑foot commercial building
- Former bakery property
- Approximately 0.115 acres
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
$24,787
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
8.70%
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%
$495,740
$495.7K
Cap Rate 7%
$354,100
$354.1K
Cap Rate 9%
$275,411
$275.4K
Market Conditions
NOI Build-Up for 2,580 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
$38.7K $15.00/SF
− Vacancy
−$3.3K −$1.28/SF
EGI
$35.4K $13.73/SF
− OpEx
−$10.6K −$4.12/SF
NOI
$24.8K $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 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%
$495,740
Cap Rate 7%
$354,100
Cap Rate 9%
$275,411
Alternative Uses
Best Use
Retail
$354.1K
$309.8K – $413.1K
NOI $24,787 @ 7.0% cap · market cap 8.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$629.6K
$550.9K – $734.5K
NOI $44,072 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
759
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 - Commercial storefront previously operated as a bakery, offering a compact retail-oriented building footprint.
Where is this storefront property located?
The property is located at 6100 Memphis Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 2,580‑square‑foot commercial building; Former bakery property; Approximately 0.115 acres
