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    Turnkey Restaurant Space with Equipment Title is generated by Realmo AI

    9918 Lorain Avenue, Cleveland, OH 44144

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    For Lease
    $3,380 /Mo

    COMMERCIAL - Cleveland, OH

    Type:Retail
    Lot size:
    0.13 Acres
    Added:
    Jan 27, 2026
    Days on Market:
    129
    Last Refresh:
    Jun 5 at 2:06 pm

    Property Features for 9918 Lorain Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Rooms
    Basement
    Parking features
    Off Street
    Standard status
    Active
    APN
    005-19-012
    Lot size
    0.13 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1918

    We can help!

    Listing Contact
    Feliz A Colon
    Feliz A Colon

    Listing agent Feliz A Colon License #2024002566

    Listing office Keller Williams Living 32875 Solon Road, Suite 100, Solon, OH

    Listing date Jan 27, 2026

    MLS# 5183672

    Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully built‑out, restaurant‑ready space with existing infrastructure (commercial stove, flat‑top cooker, deep fryers, sinks).
    • High‑traffic, high‑visibility location on Lorain Avenue in an active commercial corridor.
    • Surrounded by established businesses and dense residential neighborhoods.
    • Ideal for various food concepts: dine‑in, takeout, cafe, ghost kitchen, or specialty food.
    • Warm and inviting atmosphere with 9' ceilings and brick accent wall.
    • Open kitchen layout for efficient workflow.

    Overview

    This turnkey restaurant space is designed for efficient food service, featuring 9' ceilings, a brick accent wall, and a large bar-style countertop. The layout includes an open kitchen intended to support smooth workflow and guest interaction. The space also includes one restroom.

    Located on Lorain Avenue in Cleveland’s active east-west commercial corridor, the location is positioned for high-visibility exposure with access to surrounding neighborhoods and nearby commercial activity. The property is described as being surrounded by established businesses and dense residential areas that contribute to regular vehicle and foot traffic.

    The interior is already built out for a food and hospitality concept, including a commercial stove, flat-top cooker, two deep fryers, a three-compartment sink, and an additional utility sink. With the restaurant-ready improvements and existing kitchen infrastructure, the space is suited for dine-in and takeout operations, as well as specialty food or other restaurant formats that require an equipped kitchen. Leasing is offered with a minimum 3-year term, and the tenant is responsible for all utilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    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
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.752655
    Latitude
    41.467515

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    FAQs

    What type of property is this?
    Turn key restaurant - Restaurant-ready suite with open kitchen, one restroom, and included commercial cooking equipment for quick concept launch.
    Where is this turn key restaurant located?
    The property is located at 9918 Lorain Avenue Cleveland, OH.
    What is the lease rate?
    The lease rate is $3,380 /Mo.
    What are key features of this property?
    This property features: Fully built‑out, restaurant‑ready space with existing infrastructure (commercial stove, flat‑top cooker, deep fryers, sinks).; High‑traffic, high‑visibility location on Lorain Avenue in an active commercial corridor.; Surrounded by established businesses and dense residential neighborhoods.
    (216) 355-1585
    We can help!
    Listing Contact
    Feliz A Colon
    Feliz A Colon
    Real Estate License ID: 2024002566
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    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.

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