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801 Literary Rd 3,900 SF Retail Building Cleveland, OH 44113 $1,500,000 ($384.62/SF)
EXECUTIVE SUMMARY
This is more than just a property, it's your next big move in Cleveland's iconic Tremont neighborhood. Located in the heart of all the action, this dynamic mixed-use building is primed for serious return on investment. Currently split into a trendy second floor apartment and a fully operating hair salon on the first, this space is ready to flex. With existing HVAC already split three ways, converting into three distinct residential units is a breeze. The salon on the main level is dialed in with six stations, a bathroom, and its own kitchen/lounge area. Want to maximize cash flow? With just a few tweaks, the rear of the salon can transform into a stylish one bedroom unit with a full kitchen, bath, and laundry. Upstairs, you'll find a gorgeous loft style apartment oozing with modern industrial vibes. Think high ceilings, sleek finishes, 3 bedrooms, 3 baths, a killer kitchen, laundry room, and a chill living space, it's the perfect blend of function and style. And it gets even better on the third floor, a luxurious primary suite with heated bathroom floors and jaw dropping views of downtown Cleveland from not one, not two, but three private balconies. Full lot in back comes with building. The numbers don't lie: the salon pulls in $2,892/month, and the apartment brings $3,914/month, both with built-in 3% annual rent increases. Whether you're a savvy investor looking for multi stream income or a house hacker aiming to live stylishly while your property helps pay for itself, this is your chance to get into Tremont while it's hot. Don't sleep on this, opportunities like this don't come around often.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,900 SF
Building Class
B
Year Built
1913
Price
$1,500,000
Price Per SF
$384.62
Tenancy
Single
Building Height
2 Stories
Building FAR
1.95
Lot Size
0.05 AC
Opportunity Zone
Yes
Zoning
GR-C1 - General Retail Business
Parking
6 Spaces (1.54 Spaces per 1,000 SF Leased)
Frontage
30’ on Literary Rd
AMENITIES
- Corner Lot
Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (74)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 004-16-071 | Improvements Assessment | $225,505 |
| Land Assessment | $13,860 | Total Assessment | $239,365 |
PROPERTY TAXES
Parcel Number
004-16-071
Land Assessment
$13,860
Improvements Assessment
$225,505
Total Assessment
$239,365
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801 Literary Rd
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