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$230,000
Est. payment /mo
4,020 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision City/Cleveland
MLS Listing ID 5225028
HOA Y/N No
Year Built 1900
Annual Tax Amount $4,600
Tax Year 2025
Lot Size 4,020 Sqft
Acres 0.0923
Property Sub-Type Mixed Use
Property Description
OPPORTUNITY OVERVIEW
Rare opportunity to acquire a character-rich, two-story brick building on Cleveland's St. Clair Avenue NE corridor — a near east side commercial and residential strip with proven short-term rental demand and active adaptive reuse momentum.
The seller previously operated the building as a short-term rental generating approximately $4,000/month in gross Airbnb revenue, demonstrating real lodging demand on this corridor. One unit is currently rent-ready for immediate occupancy or STR re-activation; three units are in value-add condition, offering a buyer the opportunity to build equity through targeted finish work.
With 6,002 SF across two floors plus a partial basement, this asset supports multiple exit strategies: continue as a short-term rental operation, convert to 4–6 long-term residential units, or reposition as a mixed-use ground-floor commercial / upper-floor residential property.
INVESTMENT HIGHLIGHTS
• Proven STR demand — seller-reported ~$4,000/month gross Airbnb income prior to vacancy
• 1 rent-ready unit at closing — immediate partial income path, reduces day-one carry
• 3 value-add units — finish work creates equity upside priced into ask
• Multifamily conversion candidate — 6,002 SF supports 4–6 residential units
• Brick construction — durable asset with character that commands a premium on the rental market
• Walk Score 83 — walkable corridor with restaurants, retail, and transit within steps
• Strong renter demographics — median age 29, 74.8% renter-occupied within 1 mile
• No major structural issues — cosmetic and finish deferred maintenance only
• Flexible use positioning — STR continuation, long-term residential, or mixed-use
Rare opportunity to acquire a character-rich, two-story brick building on Cleveland's St. Clair Avenue NE corridor — a near east side commercial and residential strip with proven short-term rental demand and active adaptive reuse momentum.
The seller previously operated the building as a short-term rental generating approximately $4,000/month in gross Airbnb revenue, demonstrating real lodging demand on this corridor. One unit is currently rent-ready for immediate occupancy or STR re-activation; three units are in value-add condition, offering a buyer the opportunity to build equity through targeted finish work.
With 6,002 SF across two floors plus a partial basement, this asset supports multiple exit strategies: continue as a short-term rental operation, convert to 4–6 long-term residential units, or reposition as a mixed-use ground-floor commercial / upper-floor residential property.
INVESTMENT HIGHLIGHTS
• Proven STR demand — seller-reported ~$4,000/month gross Airbnb income prior to vacancy
• 1 rent-ready unit at closing — immediate partial income path, reduces day-one carry
• 3 value-add units — finish work creates equity upside priced into ask
• Multifamily conversion candidate — 6,002 SF supports 4–6 residential units
• Brick construction — durable asset with character that commands a premium on the rental market
• Walk Score 83 — walkable corridor with restaurants, retail, and transit within steps
• Strong renter demographics — median age 29, 74.8% renter-occupied within 1 mile
• No major structural issues — cosmetic and finish deferred maintenance only
• Flexible use positioning — STR continuation, long-term residential, or mixed-use
Location
State OH
County Cuyahoga
Interior
Heating Forced Air
Fireplace No
Exterior
Water Access Desc Public
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 102-09-094
Special Listing Condition Standard
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Listed by Michael Pasadyn • Russell Real Estate Services • mike@mapscommercial.com, 440-258-9126