1224 Huron Rd E - Storefront Retail/Residential FOR SALE


Cleveland, OH 44115- Playhouse Square
$3,300,000 USD
330-940-9360
1224 Huron Rd E, Cleveland, OH for Sale
$3,300,000 USD
Storefront Retail/Residential - FOR SALE
1/10
null | 5.82% Cap Rate

1224 Huron Rd E
Cleveland, OH 44115
Playhouse Square


HIGHLIGHTS

  • 100% occupied with a 6% cap rate.
  • Excellent location one block from E 9th Street.

OVERVIEW

Hoff & Leigh is proud to offer the newest mixed-use, 9 residential & 1 retail unit, The Starr Piano Lofts. Located at 1224 Huron Ave, Cleveland, OH 44115, in the Playhouse Square / Theater District. Offered for Sale: $3,300,000. The Starr Piano Lofts is an award-winning historical renovation and consists of 3 one-bedroom & one-bath units and 6 two-bedroom & two-bath units, all with in-suite laundry. Three units overlooking Playhouse Square. The property is a solid fully leased investment opportunity with upside potential! Storage lockers and parking can provide additional income. Excellent location, one block from E 9th Street, all major sports arenas and at the corner of the RTA Health-Line. Owner paid trash removal and water / sewer; tenant paid electric only. Projected NOI at increased market rates at $192,032 or a 6% cap at the asking price of $3,400,000. Currently the property is 100% Occupied! ASSUMABLE LOW-INTEREST LOAN: EXCELLENT OPPORTUNITY TO GAIN VALUE AND TAKE ADVANTAGE OF LOW RATE IN TODAYS MARKET CALL JOE FOR DETAILS: 330-990-0847

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$189 USD /SF

CAP RATE

5.82%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starr Piano Lofts

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1920

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,400 SF

ZONING

GR-6

APN/PARCEL ID

101-37-021

ASK ABOUT THIS PROPERTY

Joe ZumpanoHoff & Leigh Commercial Real EstateMore Info
330-940-9360

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Joe ZumpanoHoff & Leigh Commercial Real EstateMore Info
330-940-9360

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.