Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    2019 Center St Cleveland, OH 44113

    For Sale
    $6,000,000

    Cleveland Office Building: High Occupancy, Great Potential

    Property size:
    52,711 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional Class A, mixed-use office building, totaling 52,711 square feet, presents a compelling investment opportunity in Cleveland's vibrant Ohio City neighborhood. The six-story building, constructed in 1995 and renovated in 2018, boasts a current occupancy rate of 92%, with a pro-forma NOI of $522,470 and an 8.71% cap rate. Tenants include a mix of corporate and credit-rated businesses, operating under a gross lease structure. The building features a desirable "brick and beam" aesthetic, a convenient on-site fitness center, and is anchored by a highly-rated Italian restaurant. The asking price is $6,000,000, with a price per square foot of $113.83. A significant advantage is the inclusion of an adjacent development lot, providing future expansion possibilities for parking or new construction. The property's location within Ohio City offers proximity to numerous amenities, including the West Side Market, Lutheran Hospital, St. Ignatius High School, and Great Lakes Brewing Company, as well as hundreds of apartments and retail spaces. Move-in ready spaces are available, ensuring a smooth transition for new ownership. This stabilized asset offers immediate income and significant long-term growth potential. The building currently houses ten tenants.

    Property Features for 2019 Center St

    General Information

    Property type
    Office space
    Square Feet
    52,711 SF
    Class
    A

    Building Details

    Year Built/Renovated
    1995/2018
    Stories
    6

    HighLights

    • 52,711 SF mixed‑use building in Ohio City.
    • Move‑in ready spaces available.
    • On‑site fitness center.
    • Includes additional development lot.
    • Fifth‑floor restaurant (Casa La Luna).
    • Unique timber and brick architecture.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Hive in Ohio City Commercial Agent TPI Efficiency Consultant AMKO Lending, LLC Mortgage Broker Qwickly, Inc. Corporate Office Stern Advertising Advertising Agency

    Suggested Use

    Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Restaurant Building Supply Daycare Center Clothing Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.704858
    Latitude
    41.494363

    Nearby Similar for Sale

    • New
      $485,000
      0.08 Acres

      Portfolio of Four Cleveland Properties

      Four properties with income potential in Cleveland and Lorain, Ohio.
      6306 Flowerdale Ave, Cleveland, OH 44144
      View Details
    • $148,500
      Pending

      Renovated Tenant-Occupied Triplex For Sale

      Completely renovated, tenant-occupied triplex with strong rental income.
      12322 Fairport Ave, Cleveland, OH 44118
      View Details
    • $148,500
      Pending

      Renovated Tenant-Occupied Cleveland Triplex

      Completely renovated, tenant-occupied triplex with strong rental income.
      12322 Fairport Ave, Cleveland, OH 44118
      View Details
    • New
      $485,000
      0.08 Acres

      Updated Multifamily Portfolio Opportunity

      Four-property portfolio with income potential and recent updates.
      6306 Flowerdale Ave, Cleveland, OH 44144
      View Details
    • $300,000
      Pending

      Charming Edgewater Duplex with Updates

      Well-maintained duplex in Edgewater with turnkey investment potential.
      10211 Baltic Rd, Cleveland, OH 44102
      View Details
    • $579,900
      0.10 Acres

      Renovated Triplex in Ohio City

      Completely renovated, tax abated triplex near West 25th Street.
      3823 John Ave, Cleveland, OH 44113
      View Details

    FAQs

    What type of property is this?
    Office space - Cleveland Office Building: High Occupancy, Great Potential
    Where is this office space located?
    The property is located at 2019 Center St Cleveland, OH.
    What is the asking price?
    The asking price for this property is $6,000,000.
    What are key features of this property?
    This property features: 52,711 SF mixed-use building in Ohio City.; Move-in ready spaces available.; On-site fitness center.
    Request Owner's contact information
    2019 Center St Cleveland, OH 44113
    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.
    2019 Center St
    Cleveland, OH 44113
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    2019 Center St Cleveland, OH 44113
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.