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    2488-2504 40Th St Cleveland, OH 44104

    Sponsored
    For Lease
    $96 SF/Yr

    Cleveland retail space, multiple units available

    Lot size:
    38,230 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Arbor Park Place, a single-story, 38,230 square foot retail center located at 2488-2504 E. 40th Street, Cleveland, OH 44115, presents a compelling investment opportunity. This Class C property, situated on a 2.15-acre lot (APN 103-32-002) in Cuyahoga County's Central Community submarket, offers multiple suites for lease. Built in 1960 and renovated in 1999, the center currently features four suites, with 26,740 square feet currently vacant. Available spaces range from 1,018 to 18,318 contiguous square feet, suitable for a variety of retail or restaurant uses. The zoning is Retail/Commercial. The property's location near Community College Avenue provides excellent visibility and accessibility. Current tenants include a daycare center and a Dollar Mart. This presents a unique chance to establish a business in a well-established, renovated center within a thriving community. The property's size and flexible space options make it ideal for a range of businesses seeking a prominent location in Cleveland.

    Property Features for 2488-2504 40Th St

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    38,230 SF
    Class
    C
    Total Rate
    305840

    Building Details

    Year Built/Renovated
    1960/1999
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Unit 6
    Size
    4,600 SF
    Rate per SF
    $120
    Space
    Unit 5
    Size
    18,313 SF
    Rate per SF
    $120
    Space
    Unit 3
    Size
    1,018 SF
    Rate per SF
    $120

    HighLights

    • Prime location, 5‑7 minutes from Downtown Cleveland, Tri‑C Community College, and Midtown.
    • Excellent highway access via I‑71, I‑77, I‑90, and the Opportunity Corridor.
    • Convenient public transportation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Neighborhood centers

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.65857513137
    Latitude
    41.492344107882

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    FAQs

    What type of property is this?
    Neighborhood center - Cleveland retail space, multiple units available
    Where is this neighborhood center located?
    The property is located at 2488-2504 40Th St Cleveland, OH.
    What is the lease rate?
    The lease rate is $120 SF/Yr.
    What are key features of this property?
    This property features: Prime location, 5-7 minutes from Downtown Cleveland, Tri-C Community College, and Midtown.; Excellent highway access via I-71, I-77, I-90, and the Opportunity Corridor.; Convenient public transportation.
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    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
    2488-2504 40Th St Cleveland, OH 44104
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