988 E 185th ST, Cleveland, OH 44119
988 E 185th ST, Cleveland, OH 44119
988 E 185th ST, Cleveland, OH 44119
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Andy Boldry

Andy Boldry

eXp Realty

+1(330) 461-5251
$139,000
Est. payment /mo
5,998 Sqft Lot
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UPDATED:

Key Details

Property Type Commercial

Sub Type Business

Listing Status Active

Purchase Type For Sale

Subdivision Euclid 15

MLS Listing ID 5083075

HOA Y/N No

Year Built 1942

Annual Tax Amount $2,647

Tax Year 2023

Lot Size 5,998 Sqft

Acres 0.1377

Property Sub-Type Business

Property Description

Exceptional commercial value! Meticulously maintained, 3-story office building listed at $139,000 on a heavily traveled Cleveland corridor. Featuring 1,708 SQFT above ground plus an additional 936 SQFT below grade (over 2,600 total usable SQFT), this zoned office property is an investor's dream or perfect for an owner-user looking to stop renting. Currently a long-term, owner-occupied law office. For investors, this property boasts massive cash-flow potential. With 4 separate entrances (front, back, side, and lower level), the building easily subdivides into multi-tenant office suites. Based on area market rents of $14–$18/SQFT, the estimated gross rental potential is $2,500 to $3,200+ per month ($30,000–$38,400+ annually). Factoring in conservative operating expenses, this translates to a projected 14.0% to 17.9% Cap Rate—virtually unheard of in today's market! The interior offers a welcoming lobby, private main-floor office, and full kitchen/cafeteria. The 2nd floor provides 4 private offices and a full bath, while the 3rd level features a private executive suite with tandem access. Hardwood floors are preserved under the carpet. The partially finished lower level adds value with a half bath, mechanicals, additional storage capacity, and a dedicated walk-up exit to the rear lot. Major recent upgrades include a Newer AC (2023), Newer Windows, Roof (2014), and a Newer Concrete Pad. The site also benefits from the City's recent Street Beautification Project with brand-new sidewalks, curbs, and street paving. The exterior features a fully fenced lot with a paved drive and parking for multiple vehicles, backing up to a wooded area. Located next to Fifth Third Bank with immediate access to all major highways. Owner is retiring. Fast occupancy—easy to show!

Location

State OH

County Cuyahoga

Rooms

Basement Full, Partially Finished, Walk-Out Access

Interior

Heating Forced Air, Gas

Cooling Central Air

Fireplace No

Exterior

Parking Features Driveway, Parking Lot

Fence Chain Link, Full, Vinyl

Water Access Desc Public

Roof Type Asphalt,Fiberglass

Present Use Mixed Use,Office

Building

Foundation Basement

Sewer Public Sewer

Water Public

Schools

School District Cleveland Municipal - 1809

Others

Tax ID 113-08-020

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

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IDX - Northern Ohio Regional MLS (YES-MLS)/MLS NOW
Listed by Tom Partin • EXP Realty, LLC. • homeswithtom@gmail.com 440-829-4541
Andy Boldry
Andy Boldry

Agent | License ID: SAL.2019005712

+1(330) 461-5251 | andrew.boldry@exprealty.com

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988 E 185th ST