1820 30Th StCleveland, OH 44114

Property Details for 1820 30Th St

Year built

1934

Construction

TYPE NOT SPECIFIED

Lot size

0.65 AC

Property size (Sq ft)

46,502 SF

Zone code

SI

Property type

Sports & entertainment properties

Property subtype

Bowling alleys

APN

102-34-022

APU

10234022

Description

Prime Cleveland location, this exceptional 46,502 sq ft, two-story building boasts a thriving restaurant and 16-lane bowling alley. Recently renovated (2022 & 2023), the property includes a full-service bar, spacious kitchen, ample seating, and a stage. The second floor, formerly a bowling alley, offers significant expansion potential, perhaps as additional entertainment space, restaurant expansion, or apartments. A parking easement provides convenient parking. The sale includes the liquor license and all operating businesses with inventory. The 0.65-acre lot is situated near Cleveland State University, ensuring a steady stream of customers. With a 2023 NOI of nearly $300,000 and a 16.46% cap rate, this is a lucrative investment opportunity. The asking price is $1,690,000, or $845,000 per unit. The property's Class B designation reflects its well-maintained condition and recent upgrades. The building's history dates back to 1934, showcasing its enduring presence in the Cleveland community. This turnkey operation presents a unique chance to acquire a well-established and profitable business in a vibrant urban setting. The property's size and versatility offer considerable upside potential for future growth and development.

• Alternative Use

  Use

  Valuation

  Residential

  $9,575,516

  Hospitality

  $8,771,121

  Educational

  $7,297,470

  Medical

  $7,548,441

  Retail

  $11,351,620

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.5054

Longitude

-81.6683

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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