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5701-5711 Detroit Ave 11,614 SF Retail Building Cleveland, OH 44102 $1,000,000 ($86.10/SF)
INVESTMENT HIGHLIGHTS
- Located at the signalized intersection of Detroit Avenue and West 58th Street, adjacent to Cleveland's newest mixed development, Welleon.
EXECUTIVE SUMMARY
This rare opportunity presents an ideal option for an owner-user or developer in the heart of the vibrant Gordon Square/Detroit Shoreway neighborhood. The offering includes an 11,614 square foot freestanding building situated on 0.43 acres at the signalized intersection of Detroit Avenue and West 58th Street. Strategically located next to Welleon, Cleveland’s newest mixed-use development, the property benefits from significant foot and vehicle traffic. Nearby tenants enhance the appeal of the area and include NUIQ Wellness Lounge & Med Spa, Purefyx Health Bar, Cleveland Bagel Company, Astoria Cafe & Market, Capitol Theatre, Il Rione Pizzeria, and Brewnuts, among others. With Route 2 just moments away, offering over 40,000 vehicles per day, accessibility is a major advantage.
The property, located at 5701-5711 Detroit Avenue, is offered for sale at $1,000,000. Originally built in 1906 and renovated in 1952, the two-story building offers 18 surface parking spaces. It spans two parcels, identified as #002-15-010 and #002-15-008. This highly visible and well-positioned site is ideal for a variety of uses and presents strong potential for continued growth alongside one of Cleveland’s most dynamic neighborhoods.
The property, located at 5701-5711 Detroit Avenue, is offered for sale at $1,000,000. Originally built in 1906 and renovated in 1952, the two-story building offers 18 surface parking spaces. It spans two parcels, identified as #002-15-010 and #002-15-008. This highly visible and well-positioned site is ideal for a variety of uses and presents strong potential for continued growth alongside one of Cleveland’s most dynamic neighborhoods.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
11,614 SF
Building Class
C
Year Built/Renovated
1906/1952
Price
$1,000,000
Price Per SF
$86.10
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.62
Lot Size
0.43 AC
Zoning
LR - Local retail business district zoning.
Parking
18 Spaces (1.55 Spaces per 1,000 SF Leased)
Frontage
107’ on DETROIT AVE
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (89)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $116,375 | |
| Land Assessment | $26,075 | Total Assessment | $142,450 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$26,075
Improvements Assessment
$116,375
Total Assessment
$142,450
CONTACTS
-
David Leb -
Alex Smith -
Cameron Callahan -
Cushman & Wakefield | CRESCO Real Estate
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5701-5711 Detroit Ave
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