Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2191 Lincoln Avenue Lakewood, OH 44107

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Multifamily property in Lakewood with updated electrical and central air.

    Type:Multifamily
    Added:
    Sep 7, 2024
    Days on Market:
    590
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 2191 Lincoln Avenue

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    Building Details

    Year Built
    1928

    We can help!

    Listing Contact
    Steven Wilson

    Listing agent Steven Wilson License #2020006263

    Listing office Joseph Walter Realty, LLC

    Listing date Sep 7, 2024

    Source Crexi

    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 Joseph Walter Realty, LLC

    Overview

    Lakewood Multifamily Property For Sale

    This multifamily property features updated electrical systems and installed central air. The building includes a common laundry area located in the basement, equipped with both electric and gas dryer connections. The property is connected to the city sewer system and has gas and electric utilities. Two parking spaces are included with the property.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8004
    Latitude
    41.4825

    Nearby Similar for Sale

    • $449,000
      4,800 SF

      Renovated Lakewood Two-Family Home

      Fully renovated Lakewood duplex, ideal for owner-occupants or investors.
      1470-72 Ridgewood Avenue, Lakewood, OH 44107
      View Details
    • $400,000
      2,885 SF

      Lakewood Multifamily Property For Sale

      Multifamily property in Lakewood with two units and parking.
      1363 Cranford Avenue, Lakewood, OH 44107
      View Details
    • $349,000
      2,268 SF

      Lakewood Duplex: Updated and Maintained

      Meticulously maintained, tenant-occupied duplex in Lakewood with strong rental potential.
      14420 Delaware Avenue, Lakewood, OH 44107
      View Details
    • $400,000
      2,834 SF

      Lakewood Triplex: Investment Opportunity

      Well-maintained three-unit property in Lakewood with income potential.
      1447 Rosewood Avenue, Lakewood, OH 44107
      View Details
    • $314,900
      2,046 SF

      Lakewood Duplex: Investment Opportunity

      Fully occupied duplex in desirable Lakewood neighborhood with income potential.
      2114 Elbur Avenue, Lakewood, OH 44107
      View Details
    • $375,000
      2,022 SF

      Renovated Lakewood Duplex with Garage

      Updated duplex in prime location near Lake Erie.
      12929 Plover Street, Lakewood, OH 44107
      View Details
    • $300,000
      2,524 SF

      Lakewood Two-Family Home

      Well-maintained two-family home in a desirable Lakewood location.
      2297 Ogontz Avenue, Lakewood, OH 44107
      View Details
    • $310,000
      1,940 SF

      Lakewood Multifamily Investment Opportunity

      Prime Lakewood location, ideal for owner-occupants or investors.
      16800 Delaware Avenue, Lakewood, OH 44107
      View Details
    • $454,500
      3,200 SF

      Lakewood Duplex: Spacious Multi-Family Living

      Well-maintained Lakewood duplex with two units, ideal for investors.
      13532 Elbur Lane, Lakewood, OH 44107
      View Details
    • $375,000
      2,952 SF

      Lakewood Multifamily Investment Opportunity

      Remodeled, fully occupied multifamily property in a desirable Lakewood location.
      1505 Wagar Avenue, Lakewood, OH 44107
      View Details
    • $435,000

      Lakewood Duplex with Income Potential

      Large side-by-side duplex in the heart of Lakewood, Ohio.
      1281 Cook Avenue, Lakewood, OH 44107
      View Details
    • $425,000
      2,040 SF

      Lakewood Duplex: Investment Opportunity

      Fully occupied Lakewood duplex with strong rental income potential.
      1542 Westwood Avenue, Lakewood, OH 44107
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Multifamily property in Lakewood with updated electrical and central air.
    Where is this multifamily property located?
    The property is located at 2191 Lincoln Avenue Lakewood, OH.
    What is the asking price?
    The asking price for this property is $289,500.
    What are key features of this property?
    This property features: Two parking spaces included.; Central air conditioning is installed.; Electrical system has been updated.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Steven Wilson
    Real Estate License ID: 2020006263
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!