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    12700 Shaker Blvd Cleveland, OH 44120

    Sponsored
    For Sale
    $7,000,000

    Cleveland Multifamily Value-Add Opportunity

    Property size:
    115,748 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Shaker Hall Apartments, a seven-story elevator building located at 12700 Shaker Blvd in Cleveland, Ohio's Shaker Square neighborhood (zip code 44120), presents a compelling value-add investment opportunity. This multifamily property boasts 103 units within a 115,748 square foot building constructed in 1940. The property currently enjoys a 92% occupancy rate and commands an attractive 7.01% capitalization rate with an asking price of $7,000,000. Significant capital improvements exceeding $700,000 have been completed within the last two years, encompassing suite and common area renovations, elevator upgrades, and roof replacements. Amenities include on-site garage parking and coin-operated laundry facilities. The building is zoned for multi-family use. The owner currently covers gas heat, electricity, water, and sewer utilities. Shaker Hall benefits from its prime location, offering residents proximity to numerous restaurants and shops within Shaker Square, as well as convenient access to downtown Cleveland, University Circle, and major employers via both car and public transportation. This property represents a strong investment in a desirable and thriving Cleveland submarket. The building consists of one structure.

    Property Features for 12700 Shaker Blvd

    General Information

    Property type
    Multifamily properties
    Square Feet
    115,748 SF

    Building Details

    Year Built
    1940
    Buildings
    1
    Stories
    7
    Units
    103

    HighLights

    • 103‑unit multifamily property in a highly desirable submarket.
    • Over $700,000 in capital improvements completed in the past two years.
    • 90%+ occupancy rate.
    • Shaker Square location in Cleveland, Ohio.
    • Walkable to restaurants, shops, and amenities.
    • Convenient access to Downtown Cleveland, University Circle, and major employers via car or public transit.
    Property Profile Location Intelligence

    Current Use by Public Records

    Shaker Hall Apartment Building

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5945925
    Latitude
    41.4835096

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    FAQs

    What type of property is this?
    Multifamily property - Cleveland Multifamily Value-Add Opportunity
    Where is this multifamily property located?
    The property is located at 12700 Shaker Blvd Cleveland, OH.
    What is the asking price?
    The asking price for this property is $7,000,000.
    What are key features of this property?
    This property features: 103-unit multifamily property in a highly desirable submarket.; Over $700,000 in capital improvements completed in the past two years.; 90%+ occupancy rate.
    Request Owner's contact information
    12700 Shaker Blvd Cleveland, OH 44120
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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
    12700 Shaker Blvd Cleveland, OH 44120
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