Current Use by Public Records
- Emperor's Palace / Restaurant
Property Details for 2136 Rockwell Ave
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional Cleveland investment opportunity encompasses a 39,691 square foot mixed-use building at 2136 Rockwell Ave, 44114, in Cuyahoga County, Ohio. The property features a thriving, fully occupied commercial space including a well-established Chinese Dim Sum restaurant with approximately 120 seats, catering capabilities, and a private dining room. Four additional retail stores occupy the ground floor, along with a hot pot restaurant, daycare center, law office, and a Chinese association office. The second floor houses a Chinese American historical museum, attracting local tourism. Thirteen residential units (3-4 bedrooms each) generate consistent rental income at $900 per month, with tenants responsible for individual utilities. The owner's expenses are limited to cold water for the apartments, annual snow removal ($600), monthly cleaning ($200), property taxes, and building insurance. A significant value-add opportunity exists with a vacant 4,920 square foot building shell, offering potential conversion into approximately ten one-bedroom apartments, further enhancing cash flow. The asking price for the entire property is $4,250,000 ($107.08/sq ft). The established Emperor Palace restaurant is also available for sale separately, priced at $180,000, including equipment and business assets. This property presents a compelling investment prospect with diverse income streams and substantial upside potential.
Value Estimations
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cleveland
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.6786
- Latitude
- 41.5083
