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15557 Lake Shore Blvd 5,150 SF 100% Leased Retail Building Cleveland, OH 44110 $399,900 ($77.65/SF) 10.36% Cap Rate



Executive Summary
Here's an opportunity to acquire 15557 Lakeshore Boulevard, a well-maintained mixed-use investment property consisting of three residential units and two fully occupied commercial spaces. Positioned along a highly visible corridor with convenient access to public transportation, major highways, and neighborhood amenities, this asset offers investors immediate cash flow with additional upside potential through future rent increases. The residential component includes two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. Recent updates have been completed throughout the apartment units, enhancing tenant appeal and reducing near-term capital expenditures. The commercial spaces are currently occupied, providing diversified income streams and stability. With all tenants current on rent and parking available for both residential and commercial occupants, this property presents an attractive opportunity for investors seeking a cash-flowing asset in Northeast Ohio.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,150 SF
Building Class
C
Year Built
1900
Price
$399,900
Price Per SF
$77.65
Cap Rate
10.36%
NOI
$41,419
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.79
Lot Size
0.15 AC
Zoning
LR
Frontage
Fairly walkable
40/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 112-14-025 | Improvements Assessment | $58,030 |
| Land Assessment | $6,755 | Total Assessment | $64,785 |
Property Taxes
Parcel Number
112-14-025
Land Assessment
$6,755
Improvements Assessment
$58,030
Total Assessment
$64,785
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15557 Lake Shore Blvd
