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2311 E 55th St NW, Cleveland, OH 44104 2311 E 55th St 11,300 SF 82% Leased Office Building Cleveland, OH 44104 $100,000 ($8.85/SF)

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INVESTMENT HIGHLIGHTS

  • 11,300 SF building with 3 units
  • Zoned GR
  • Corner location for high visibility
  • Built in 1920
  • Ideal for retail/street retail

EXECUTIVE SUMMARY

Unique investment opportunity with this 11,300 SF property includes 1500 SF of retail store front with attached 3-story residential dwelling adjacent to large warehouse. All structures in need of renovation. Owner has made significant improvements that include new roof on the residential dwelling, new 2" waterline service for the entire complex, tuck pointing/reinforcement of masonry chimneys, removal of debris/refuse from buildings, and installation of new concrete along E. 55th Street. Improvements to date in excess of $150,000 is cost. Future possible plans include store front retail use, multi-family apartments, and warehousing. New developments and renovations are currently occurring in the Midtown neighbor. Adjacent to historical church on corner of Central and E. 55th that could be re-purposed for residential use.

PROPERTY FACTS

Sale Type
Investment or Owner User
Sale Conditions
Distress Sale
Property Type
Office
Building Size
11,300 SF
Building Class
C
Year Built
1920
Price
$100,000
Price Per SF
$8.85
Percent Leased
82%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
2,825 SF
Building FAR
1.44
Lot Size
0.18 AC
Opportunity Zone
Yes
Zoning
GR

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
118-28-002
Land Assessment
$10,500
Improvements Assessment
$22,190
Total Assessment
$32,690
  • Listing ID: 33310040

  • Date on Market: 9/26/2024

  • Last Updated:

  • Address: 2311 E 55th St, Cleveland, OH 44104

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