2139 Noble RdCleveland, OH 44112

Property Details for 2139 Noble Rd

Year built

1964

Construction

TYPE NOT SPECIFIED

Lot size

0.30 AC

Property size (Sq ft)

4,258 SF

Zone code

U3

Property type

Retail properties

Property subtype

Retail space

APN

673-17-083

APU

67317083

Description

This well-maintained, 4,258 square foot retail building in Cleveland, Ohio, presents a compelling investment opportunity. Situated on a 0.3-acre lot at 2139 Noble Road, the property boasts three individual retail units. The building features a newer TPO commercial roof, still under warranty, ensuring long-term cost savings. The HVAC system has also been recently updated, providing efficient climate control for tenants and minimizing operational expenses. The exterior has been freshly painted, enhancing curb appeal and attracting potential customers. The parking lot has recently undergone repaving, ensuring ample and convenient parking for patrons. Two of the three units are currently occupied by long-term tenants, providing a stable income stream. The third unit is vacant, but has undergone some renovations, making it ready for immediate occupancy or further customization to suit a specific tenant's needs. All utilities are separately metered and paid for by the respective tenants, simplifying management and maximizing profitability. This property offers a blend of immediate income generation and future growth potential, making it an ideal addition to any investment portfolio. The location on Noble Road provides excellent visibility and accessibility, ensuring high foot traffic and potential for increased revenue. This is a turnkey opportunity for an investor seeking a stable and profitable retail investment in a desirable Cleveland location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,126,040

  6.5%

  $1,039,422

  7%

  $965,177

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,003,699

  Geo Method

  $1,003,699

• Alternative Use

  Use

  Valuation

  Residential

  $876,791

  Hospitality

  $803,136

  Educational

  $668,200

  Medical

  $691,180

  Retail

  $1,039,422

Location Insight

City

East Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.5385

Longitude

-81.5579

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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