1991 45Th StCleveland, OH 44102

Property Details for 1991 45Th St

Year built

1924

Construction

WOOD

Lot size

0.05 AC

Property size (Sq ft)

1,633 SF

Zone code

LR

Property type

Industrial properties

Property subtype

Other warehouses

APN

003-34-027

APU

334027

Description

This exceptional Cleveland, Ohio property presents a unique redevelopment opportunity. Located at 1991 W 45th St, in the heart of Ohio City, this 2,500 square foot mixed-use building sits on a 2,405 square foot lot (APN 003-34-027). Currently operating as a 100% occupied, single-tenant auto repair shop with assets included, this Class B property offers a compelling 10% cap rate at an asking price of $200,000. The gross lease structure simplifies management. The strategic location at the nexus of Ohio City and Gordon Square makes it ideal for developers seeking to address the area's housing needs. This prime real estate, situated in a targeted development zone, offers significant potential for high-quality construction projects. The one-story building presents a blank canvas for creative vision, capitalizing on the scarcity of available land in this vibrant Cleveland neighborhood. This is a rare chance to acquire a thriving business and valuable real estate in a rapidly growing market. The property's existing use as an auto repair shop provides immediate income potential while offering significant long-term redevelopment possibilities.

• Alternative Use

  Use

  Valuation

  Residential

  $336,261

  Hospitality

  $308,013

  Educational

  $256,264

  Medical

  $265,077

  Retail

  $398,632

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.4792

Longitude

-81.7175

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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