Current Use by Public Records
- Retail properties & Spaces
Property Details for 6516 St Clair Ave
- Year built
- 1910
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This prime Cleveland, Ohio mixed-use property at 6516 St Clair Ave, offers a compelling value-add investment opportunity. The 4,660 square foot building, constructed in 1910, features a four-story structure situated on a 3,750 square foot lot (APN 10524005). Currently, the property boasts a 50% occupancy rate with two of the five units rented at a combined monthly rent of $750. The building comprises a ground-floor storefront and three apartments above. Two apartments are currently occupied, while one requires complete rehabilitation, presenting a significant opportunity to increase rental income. The storefront space offers flexibility, potentially divisible into two separate units, catering to various commercial uses. This property benefits from its convenient location near downtown Cleveland, ensuring high visibility and accessibility. The gross lease structure and multi-tenant occupancy contribute to the property's investment appeal. This is a multifamily and retail property with a total asking price of $183,900.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cleveland
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.6446
- Latitude
- 41.5253
