13322 Madison Ave, Lakewood, OH 44107-4871
- Warehouses
- 10,080 SF
- 0.14 lot acres
Current Use by Public Records
- Warehouses
Property Details for 13322 Madison Ave
- Year built
- 1951
- Construction
- WOOD
- Lot size
- 0.14 lot acres
- Zone code
- C2
- Property type
- Warehouses
- APN
- 315-06-019
- APU
- 31506019
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Nov 5, 2025 | $1,100,000 | 13332 Madison Ave LLC | Trainoo LLC | Warranty Deed | $894k · The Croghan Colonial Bank |
| Jan 8, 2024 | $400,000 | Trainoo LLC | George G Samijlenko | Warranty Deed | — |
| — | — | George G Samijlenko | — | Deed Of Trust · related | $120k · Interbay Funding LLC |
Description
This exceptional mixed-use property, located at 13322 Madison Ave in Lakewood, Ohio's vibrant Birdtown neighborhood, presents a compelling investment opportunity. The three-story, 1951-built building comprises twelve units: ten one-bedroom apartments and two retail spaces, all currently occupied at 100% occupancy. The apartments offer fantastic views of the Lakewood and Cleveland skylines. Average in-place rent for the apartments is $853, while the average in-place rent for the retail spaces is $1,568. Significant upside potential exists due to rents being below market value, allowing for future increases as the neighborhood continues its growth trajectory. Each apartment features an individual furnace, enabling the owner to pass along heating and gas costs to tenants. The convenient location offers easy access to public transportation. The property sits on a 0.139-acre lot and includes six parking spaces. The building is zoned for local retail, providing flexibility for future uses. The asking price is $1,180,000, representing a 7.50% cap rate. This property is a rare find in a highly sought-after location, offering a blend of residential and commercial income streams with substantial growth potential. The property's APN is 315-06-019. This is a turn-key opportunity in a thriving area.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lakewood
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.7826
- Latitude
- 41.4773
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
