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6101 Detroit Ave 8,500 SF 100% Leased Retail Building Cleveland, OH 44102 $1,495,000 ($175.88/SF) 10.97% Cap Rate



EXECUTIVE SUMMARY
Extremely desirable brick warehouse building nestled within the Detroit-Shoreway Gordon Square Arts District. Boasting over 8,000sf concrete floors on slab with large paved asphalt parking lot (up to 25 cars) pours directly onto Detroit Ave. Retail storefront features thirteen-foot ceilings, double-door entry, storefront bay window glass and transoms and plenty of well-lit interiors. The additional square footage offers ample warehouse space opening up possibilities of warehouse and storage to an office or restaurant conversion opportunity. Building layout includes two large billboards atop the building, large eleven foot steel overhead door and three entry access points, meetings rooms, mezzanine office and two restroom facilities—with mechanicals of three-phase power supply, refrigeration and coolers (existing owner/tenant), two hot water tanks and cooling towers for rooftop condensers. An absolute premium location in the heart of Gordon Square—perfect for mixed-use retail and multifamily, restaurant, single-floor primary or shared office concept connecting you to the local neighborhood vibrancy and access.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Supermarket
Building Size
8,500 SF
Building Class
C
Year Built
1920
Price
$1,495,000
Price Per SF
$175.88
Cap Rate
10.97%
NOI
$164,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.48
Lot Size
0.41 AC
Zoning
LR
Parking
25 Spaces (2.94 Spaces per 1,000 SF Leased)
Frontage
120’ on Detroit Ave
AMENITIES
- 24 Hour Access
- Bus Line
- Conferencing Facility
- Food Court
- Pylon Sign
- Signage
- Drive Thru
- Roof Terrace
- Storage Space
- Monument Signage
Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (82)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 002-16-012 | Improvements Assessment | $59,395 |
| Land Assessment | $25,235 | Total Assessment | $84,630 |
PROPERTY TAXES
Parcel Number
002-16-012
Land Assessment
$25,235
Improvements Assessment
$59,395
Total Assessment
$84,630
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6101 Detroit Ave
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