2394 3rd St Cleveland, OH 44113-2522
This exceptional 5,075-square-foot retail property, located at 2394 W 3rd St, Cleveland, OH 44113, presents a remarkable investment opportunity in the thriving Tremont neighborhood. Built in 1910, this two-story building sits on two parcels (APN: 004-32-029, 00432030) and is zoned for retail use. The main level, previously a bar, offers significant potential for conversion into a restaurant, cafe, or similar establishment. The upper level, formerly a boarding house, boasts three bathrooms, a communal area, laundry facilities, and a spacious kitchen. This versatile space offers numerous possibilities for adaptive reuse. The property also features a fenced rear area and stunning views from the upper level and roof. With a price per square foot of $78.82 and an asking price of $400,000, this property represents a compelling investment in a desirable and developing area. The property's history and unique layout provide a strong foundation for a variety of commercial ventures. Its location in Tremont offers excellent visibility and access to a vibrant community. This is a rare opportunity to acquire a substantial property with significant upside potential in a highly sought-after Cleveland neighborhood.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
GI · Cleveland, OHCleveland. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.