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Property profile & analytics
FOR SALE
Office buildings

988 E 185Th St Cleveland, OH 44119

1,370 SF 0.14 ac lot Built 1942
Individually Owned 18-yr Hold ~ Est. High Equity
Property ID
US66-5920786
Property summary
AI-generated overview

This vacant, three-story office building at 988 East 185th Street in Cleveland, Ohio, presents a compelling owner-user or investment opportunity. The 2,644 square foot building, constructed in 1942, is classified as Class D and sits on a large lot with a paved driveway and an extra-large fenced-in rear parking area accommodating 4 vehicles. Currently configured as office space, it features a full kitchen and bath on the main floor, three main floor offices, four offices on the second floor, and a finished attic offering additional space. Recent improvements include a new roof (installed 10 years ago), new air conditioning (2023), and a new concrete pad in the rear (2023). The building also boasts newer windows throughout. The property is zoned for local retail, expanding its potential uses. Its prime location just off I-90, minutes from Lake Erie Metroparks, University Circle, and downtown Cleveland, ensures high visibility and accessibility. The area benefits from recent city improvements, including new sidewalks, curbs, and street paving (completed November 2023), contributing to increased foot and vehicle traffic. The asking price is $170,000, translating to $64.30 per square foot. This property is ideal for a variety of uses, including but not limited to office, retail, or restaurant establishments. The building is currently vacant, allowing for immediate occupancy and customization to suit the buyer's needs.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1942
Construction WOOD
Total area 1,370 SF
Lot 0.14 ac (6,000 SF)
Zoning code LR
APN 113-08-020
UPID US66-5920786
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Airsep Corporation Pharmacy
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
John P Parker · 18 yrs held
John P Parker
since 2007
2 recorded transactions
2007
$80,000
2002
Price N/A
Zoning & alternative use
LR · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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