Rented Commercial Investment | Lakewood, OH Prime income-producing commercial property in the heart of Lakewood, offering immediate rental income. The property features 6 apartments and 3 storefronts, providing a strong mix of residential and commercial income. The apartments include one 3-bedroom, one 2-bedroom, and four 1-bedroom units. One established business currently occupies two of the three storefronts. Ideally located near Lakewood’s vibrant downtown, shops, restaurants, parks, and entertainment, with convenient access to Lake Erie, Edgewater Park, Gordon Park, and downtown Cleveland. Just a short distance from Cleveland, this is an excellent opportunity for investors seeking a turnkey commercial property in a highly desirable location.

17020 Madison Avenue, Lakewood

Listing Courtesy of: Mathew P Chase, matt@chasegrouprealestate.com With Keller Williams Greater Metropolitan

$375,000

5235934 MLS

Welcome to 1386 Cranford Ave (The Original Curtis Hall House), a prime mixed-use investment opportunity right off of Detroit Rd, in the highly desired suburb of Lakewood! This well maintained mixed-use commercial building offers a rare blend of residential and retail space with tons of potential for renovation or redevelopment. Boasting six total units, three street level store fronts and three apartments (two 1 beds and one 2 bed), in an excellent location, this building is perfect for attracting steady commercial and residential tenants. Currently 50% occupied - tenants are month to month. Apartments are ADA compliant with chair glides on staircases. The parking is convenient, with a 5 car parking lot and easy access to street parking. New roof and gutters (2025), newer furnaces, and newer electrical throughout. Zoned for Mixed-use and retail. Opportunities like this, with so much potential, in the booming Lakewood market are very rare! Motivated seller, bring your offers! Schedule your walkthrough today!

1386 Cranford Avenue, Lakewood

Listing Courtesy of: Armani Adames, adamesarmani.aa@gmail.com With RE/MAX Above & Beyond

$2,995,000

5235310 MLS

Rare opportunity to acquire a 32-unit apartment portfolio in the heart of Lakewood, one of Northeast Ohio's strongest rental markets. This offering includes two neighboring brick apartment buildings totaling 28,167 SF and is 97% occupied. Ownership has invested over $460,000 in recent capital improvements, including renovated kitchens and bathrooms, LVP flooring, upgraded electrical panels throughout, common area improvements, structural garage repairs, plumbing upgrades, and more, allowing the next owner to focus on increasing income rather than major renovations. Current Gross Operating Income is $376,572 with a current NOI of $200,777. Year 1 pro forma projects a $275,107 NOI and an 8.40% cap rate through continued rent growth, utility reimbursements already being implemented, and ancillary income opportunities. Amenities include attached garages, owner-owned laundry, tenant storage, and strong in-place occupancy. Located in Ohio's most walkable city with 50% of residents being tenants andnd 3% YoY rent growth. Homes sell over asking over 50% of the time with 7% increasing value YoY. Safe location and acquisition.

1346 Kenilworth Avenue, Lakewood

Listing Courtesy of: Erin Thomas, Erinthomas@kwcommercial.com With Keller Williams Living

$285,000

5231687 MLS

EXCEPTIONAL OWNER-OCCUPANT OR INVESTMENT OPPORTUNITY! This versatile commercial property offers over 2,526 sq. ft. of usable space with additional expansion potential in the walk-up attic. The property features multiple private rooms/offices, 2 full bathrooms and 1 half bath, a finished lower level with additional functional space, built-in cabinetry, a wet bar, and dedicated laundry area. Beautiful natural woodwork, original built-ins, teak flooring, and abundant storage enhance the property’s character while providing a professional and welcoming environment. Additional improvements include a new garage door and a low-maintenance exterior. Conveniently located in the heart of Lakewood with easy access to major roads, restaurants, retail, and other local amenities. Information deemed reliable but not guaranteed. Buyer to perform their own due diligence regarding zoning, permitted uses, and occupancy requirements.

1415 Blossom Park Avenue, Lakewood

Listing Courtesy of: Joy Larson, jfivehomes@gmail.com With Keller Williams Elevate

$1,000,000

5226008 MLS

Rare Lakewood Investment Opportunity! This exceptional multifamily offering features two fully occupied quadruplex buildings on a single parcel, providing investors with immediate cash flow in one of Northeast Ohio’s most sought-after rental markets. Currently operating at 100% occupancy, the property generates an impressive $8,655 per month in gross rental income. In addition to the eight residential units, the property includes a separate 4-car garage building with a substantial unfinished space above, presenting a compelling value-add opportunity. With the appropriate approvals, this expansive area offers the potential to create an additional 2-3 bedroom unit, allowing investors to further increase rental income and maximize returns. Located in highly desirable Lakewood, tenants enjoy convenient access to shopping, dining, entertainment, schools, parks, and downtown Cleveland. Opportunities to acquire a stabilized, income producing asset with built in upside potential in this market are increasingly rare. Whether you’re looking to expand your portfolio with a strong-performing asset or unlock additional value through adding a unit and increasing rents, this property offers the ideal combination of stable cash flow, prime location, and significant upside potential.

1497 Coutant Avenue, Lakewood

Listing Courtesy of: Armani Adames, adamesarmani.aa@gmail.com With RE/MAX Above & Beyond

$1,049,900

5225940 MLS

WOW! You do NOT want to miss your chance to add this property to your portfolio. Situated in a coveted and centrally located Lakewood neighborhood, this one will NOT last long. This 11-unit apartment building is fully occupied and truly turn-key. The majority of the units have been updated in the last 4 years including but not limited to paint, flooring, cabinets, appliances, and more! All units are 1 bedroom/1 bathroom and in pristine condition. Call today to schedule your private tour of this can’t miss property before it’s too late!

1419 Roycroft Avenue, Lakewood

Listing Courtesy of: Jaren T Fink, jaren.fink@gmail.com With RE/MAX Infinity

$400,000

5215080 MLS

Exceptional owner-use or investment opportunity in the heart of Lakewood's thriving Madison Avenue business district. Positioned on one of the city's most walkable and highly visible commercial corridors, this property offers approximately 3,820 SF on a 7,500 SF lot with rare off-street parking for 4-6 vehicles plus convenient access to street parking. Formerly operated as a professional wellness office, the property features a lobby area just past the foyer, a large private first floor office or waiting room area, four private upstairs rooms or offices, two full bathrooms, original hardwood floors, built-ins, and architectural character rarely found in today's commercial inventory. The flexible layout is well-suited for a wide range of professional, wellness, medical-adjacent, beauty, design, legal, accounting, consulting, or service-based businesses. The current configuration also presents an attractive opportunity for shared office suites or multi-tenant occupancy. Located just steps from Good Kind Coffee, Barrio, Vital Pilates Studio, and Buckeye Beer Engine, this property benefits from consistent pedestrian activity and strong neighborhood visibility. Previous ownership successfully generated income through individually leased treatment rooms, and operating history is available upon request. Vacant and available for immediate occupancy, this property offers a unique opportunity for business owners, investors, or entrepreneurs seeking a character-rich commercial space in one of Northeast Ohio's most desirable business districts.

15522 Madison Avenue, Lakewood

Listing Courtesy of: Christopher M Burns, chris@burnsyrealestate.com With Keller Williams Greater Metropolitan

$700,000

5205501 MLS

Amazing Opportunity To Invest In Prime Commercial Space In A High-Traffic Location! Most Recently Utilized As Lakewood Urgent Care/Rebound Physical Therapy/Tailored Healthcare Primary Care. Over 5600 Sq Ft, Street Level Entrance Off Of Detroit, 18 Dedicated Parking Spaces. Floor Plan Includes Multiple Private Offices, Patient Exam Rooms, Therapy Room, Lobby, Reception Area, Bathrooms, Laundry Room, Mechanical & Janitorial Closets, Kitchenette, Conference Room, & Common Area (Last Used As Billing Station). Additional Features Include Security System, Fire Alarm System, & Sprinkler System. Property Is Truly Turn-Key, & Could Be Sold As-Is Fully Furnished. Call Today For A Walk through & More Info!

11716 Detroit Avenue, Lakewood

Listing Courtesy of: Chris Bergin, chris@chrisbergin.com With Berkshire Hathaway HomeServices Lucien Realty

$249,900

5200201 MLS

Turnkey, investment opportunity in highly desirable Lakewood! This six-unit property is a true income producer, ideally positioned in one of Northeast Ohio’s most sought-after rental markets amid ongoing development and growth. Located directly across from a vibrant artist studio, gallery, and event space, and just a short walk to popular restaurants, parks, and public transportation, with convenient highway access nearby. Recent updates: electric baseboard heat in each unit. Most units freshly painted & some updates when vacant. 4 Units are currently leased, offering immediate cash flow. 2 Units are vacant and can be seen prior to an accepted offer. The property also provides off-street parking for tenant convenience. Owner currently covers water/sewer. Rents range from $487–$787 per month, generating a total monthly income of $3814.45. Tenant pays electric bill. Don’t miss this excellent opportunity to expand your investment portfolio with a solid, income-generating property in a prime location!

2109 Halstead Avenue, Lakewood

Listing Courtesy of: Jeffrey J Cimbulich, jeffsellscleveland@gmail.com With RE/MAX Above & Beyond

$527,900

5188647 MLS

GREAT INVESTMENT OR OWNER-OCCUPANT OPPORTUNITY! 3 Property Portfolio -3513 Dawning Ave., Cleveland (MLS#5188608), 3704 Dawning Ave., Cleveland (MLS#5188591), 15400 Hilliard Ave., Lakewood (MLS#5188624). 24 Hour advance notice required for all showings. Opportunity for Investor NOI increase potential. Information deemed reliable, but is not guaranteed. Upon Buyer's request, seller is willing to ensure that units are vacant prior to title transfer. NO FOR SALE SIGN IS POSTED. Please do not approach tenants.

15400 Hilliard Road, Lakewood

Listing Courtesy of: Kimberly Kepling, kimkep4796@gmail.com With Russell Real Estate Services

$329,400

5180599 MLS

Located in the heart of Lakewood’s Madison Avenue corridor with excellent visibility, walkability, and access to retail, dining, and transit, this corner property offers immediate income with meaningful upside for future NOI growth. Savvy buyers will recognize this well-maintained mixed-use brick building as a compelling blend of retail and residential income in one of Lakewood’s most desirable areas. The property totals approximately 8,262 square feet and includes two street-level storefronts with four residential units, providing both stability and upside for an investor or owner-operator. The storefronts are currently combined, creating a flexible retail footprint, yet each retains its own half bath and separate basement storage, allowing for easy re-division if desired. Cosmetic improvements include paint, drywall patching, caulking, and floor work, making the spaces suitable for future tenant occupancy. Above the storefronts are two two-bedroom apartments facing Madison Avenue, while the rear of the building features two large one-bedroom apartments, stacked one above the other. The residential units present an opportunity for renovation, allowing a new owner to modernize finishes and layouts in support of their rental strategy and long-term income goals. Recent improvements include a newer furnace and air conditioning unit, select electrical upgrades completed in 2023 and 2024, and exterior painting completed in 2022, with additional perimeter caulking performed in 2024–2025. Rents are month-to-month and currently below market, as the owner has occupied the storefronts and provided discounted residential rent to shop personnel, creating a clear opportunity to increase income through new leases and unit improvements. The property is priced to sell in as-is condition, allowing investors the flexibility to make improvements according to their own business model, budget, and return objectives, and to unlock the asset’s full income potential.

13375 Madison Avenue, Cleveland

Listing Courtesy of: Scott Carpenter, scottcarpenters@kw.com With Keller Williams Greater Metropolitan

Selling Office: Keller Williams Citywide.

$1,250,000

5151332 MLS

Investor Opportunity in Lakewood! This solid brick multi unit property 9,363 sqft and $7,619 in monthly income delivers lasting stability and strong curb appeal. It features 11 one bedroom one bath units most with a living room, dining room and balcony. Select units highlight original hardwood flooring, while others include carpet or ceramic tile, offering both durability and variety. Walkable to the many shops, restaurants and bars throughout Lakewood along with the Metroparks Rocky River Valley. The location offers direct access to I-90, the Cleveland Lakefront Shoreway via Clifton Boulevard ensuring excellent regional connectivity. Public transit further enhances accessibility with RTA Bus Route 25 running in front of the property connecting with the Redline train the the airport, downtown and University Circle. With Lakewood’s proven rental demand and strong occupancy rates, this property represents a reliable addition to any portfolio, with immediate income and long term growth potential.

16812 Madison Avenue, Lakewood

Listing Courtesy of: David S Sharkey, dsharkey@progressiveurban.com With Progressive Urban Real Estate Co

Selling Office: Non-Member.

$1,250,000

5148955 MLS

Exceptional investment opportunity in the heart of Lakewood! This well maintained 13 unit brick multifamily building is fully occupied except for one unit, offering immediate income potential. The property features a desirable mix of one bedroom/one bath and two bedroom/one bath layouts, appealing to a wide range of tenants. Many units have had updates in recent years, and a new boiler was installed in 2019, providing peace of mind for investors and reducing future maintenance costs. Inside, units offer different layouts with built-ins, hardwood flooring, LVT, carpet or ceramic making them attractive and renter ready. With strong occupancy, consistent rental demand and significant recent improvements this property represents a turnkey investment in one of Greater Cleveland’s most sought-after rental markets. Parking is located in the rear, including carports and additional lot spaces, adding convenience and value for tenants. The property is ideally located within walking distance to Lakewood Park and all of the shops and restaurants in downtown Lakewood. Additionally the property is only minutes from downtown Cleveland and University Circle. Quick access to I-90 and the Lakefront Shoreway makes commuting easy, while public transportation is right at the doorstep. Multiple RTA bus stops are located along Clifton Boulevard (routes 55, 55B, 55C), offering quick, direct connectivity to downtown and surrounding areas.

14801 Clifton Boulevard, Lakewood

Listing Courtesy of: David S Sharkey, dsharkey@progressiveurban.com With Progressive Urban Real Estate Co

Selling Office: Non-Member.

$230,000

5117195 MLS

Unlock the potential of 65 feet of prime Detroit Road frontage in central Lakewood! This property presents a unique opportunity for redevelopment or significant renovation. Zoned for Mixed use Apartments, office or retail use, it's an ideal candidate for a tear-down and new build, or a complete overhaul of the existing structure. One unit is currently occupied, it was setup as a 4 unit property at one point with 2 1 bedroom apartments, retail on the first floor of the house and offices upstairs. The property requires full rehabilitation but is currently up to code and benefits from a roof replacement done roughly two years ago (c. 2023). Newer front parking lot up to 6 cars and back fenced in lot with Garage.

12816 Detroit Avenue, Lakewood

Listing Courtesy of: Dimitrios Gountis, jim@citiroc.com With Citiroc LLC

Selling Office: Non-Member.

$590,000

5107403 MLS

This well-maintained commercial property offers a fantastic investment with steady rental income. The first floor is fully leased to a national dental provider, ensuring a reliable revenue stream. The second floor features two occupied apartments, each approximately 1,000 sq. ft. with 2 bedrooms and 1 bathroom—one rented at $1,000/month and the other at $800/month. The property also includes a large rear garage and on-site parking, with additional leased parking across the street. Whether you're an investor seeking a strong cash-flowing asset or an owner looking for a mixed-use opportunity, this property is a must-see! Possible Owner financing!

13614 Madison Avenue, Lakewood

Listing Courtesy of: Pete Formica, pete@safeharborteam.com With Keller Williams Elevate

Selling Office: EXP Realty, LLC..

$2,000,000

5089700 MLS

*10 SINGLE FAMILY HOMES AND 4 DOUBLES* Totaling 18 Doors. No Efficiencies & No 1 Bedrooms! This Incredible Opportunity is at an Attractive Cap Rate Already AND Rents are Under Market, so Grab this Opportunity to Boost Income without Investing more Money! Truly an Above Average Overall Condition as Seen by Photos. This SOLID Portfolio of Homes has Professional Management in Place and RENTS FLOWING IN! All Properties are in Excellent Locations which Offer Safety for Tenants and for the Investment, which Boasts Appreciation + Cash Flow! Locations Include LAKEWOOD (44107), PARMA (44129 and 44134), PARMA HEIGHTS (44130) and CLEVELAND'S OLD BROOKLYN NEIGHBORHOOD (44109)! Addresses are as Follows: 1578-1580 Mars Ave - Lakewood | 3111 Maplecrest Ave - Parma | 7923 Lanyard Ave - Parma | 7612 Deerfield Dr - Parma | 4804-4806 Pershing Ave - Parma | 6403 Theota Ave - Parma | 5514 Haverhill Ave - Parma | 5254 W 83rd St - Parma | 6876 Beresford Ave - Parma Hts | 5802 Northcliff Ave - Cleveland | 5013 Vandalia Ave - Cleveland | 3911 Archmere Ave - Cleveland | 4006 Archmere Ave - Cleveland Rent Roll / Financials / Additional Photos and Property Specifics are Available for Serious and Qualified Interest!

1580 Mars Avenue, Lakewood

Listing Courtesy of: Ben Murphy, realtorbenmurphy@outlook.com With EXP Realty, LLC.

Selling Office: Keller Williams Chervenic Rlty.

$290,000

5073533 MLS

Welcome to 1548 Lakewood Avenue, a unique mixed use property in the highly desirable suburb of Lakewood. Opportunity awaits any savvy investor or business owner in this renovated multi unit property. Located on a primarily residential block between the businesses, storefronts, shopping, restaurants and nightlife on Madison and Detroit and easily accessible to the main traffic artery of W 117th St. at the border of Lakewood and Cleveland. The second floor of this multi unit property is currently home to a fully operating airbnb rental grossing an average of $2500 per month (up to $4K in summer months). This three bedroom unit includes the finished third floor and is fully furnished (all included) with a modern aesthetic, custom guardian mural and offers a large upper level balcony for renters to enjoy (deck, stairs and fence to be painted). The first floor unit was previously used as an office space at $1600 a month but has potential for several uses including a 3 bedroom long or short term rental. Long term market rent for the down unit - residential or office is around $1750-1850 while a short term rental is sure to bring in more. All office furnishings including desks, chairs tables, file cabinets, TV, printer and supplies included if desired. The building underwent a full renovation after the seller's purchase in 2017 including a full tear off and reroof. Other highlights include fully fenced yard, central air (down), large full basement with lots of room for storage, vinyl & glass block windows throughout, large off street parking area with room for at least 5 cars and all furnishings and appliances included in sale. Separate electric and gas meters for each unit. Mechanicals are newer / updated (excluding boiler) as well as flooring, paint & kitchen and bath remodels completed within the past 6-7 years. Opportunity is limited to walk into this type of cash flow potential and/or a brick and mortar business location in the booming market of Lakewood Ohio.

1548 Lakewood Avenue, Lakewood

Listing Courtesy of: Rose Salopek, rsalopek@vittardigroup.com With CENTURY 21 DePiero & Associates, Inc.

Selling Office: Keller Williams Greater Metropolitan.

$1,350,000

5045452 MLS

Fully renovated, 20-unit apartment building in Lakewood! Completely updated top to bottom, including brand new flat roof, all new mechanicals (HVAC, boiler, hot water tanks, A/C units), restored parking lot w/ new lines, professional landscaping, new vinyl windows, new commercial doors, new common area furniture, new LVP throughout, fresh paint, new fixtures, full electrical upgrade and all units fully updated as well! 19 units occupied, 1 vacant unit. Professional property management in place and willing to stay on! Incredible investment opportunity!

1352 Clarence Avenue, Lakewood

Listing Courtesy of: Michael Azzam, mike@theazzamgroup.com With RE/MAX Haven Realty

Selling Office: Keller Williams Citywide.

$1,750,000

5033651 MLS

2275 Warren Road, Lakewood

Listing Courtesy of: Chris Kilbane, chriskilbanesells@gmail.com With Russell Real Estate Services

Selling Office: Russell Real Estate Services.

$1,400,000

4448971 MLS

Introducing a prime investment opportunity in the heart of Lakewood, Ohio – Nestled in one of Lakewood's most sought-after neighborhoods, this property combines modern comforts with timeless charm. The property's strategic location is a standout feature, as it provides easy access to Lakewood's vibrant downtown area, renowned for its eclectic dining, shopping, and entertainment options. Additionally, proximity to Lake Erie ensures year-round recreational activities and scenic views for residents. Investors will appreciate the consistent rental income potential of this apartment building, as well as the opportunity for value appreciation in this thriving community. This property is a promising addition to any real estate portfolio. Ideal opportunity for both seasoned investors and those looking to embark on their real estate journey. All Brick 12 unit apartment building with a storefront. The building has (10) 2 bedroom units, (1) 1 bedroom unit and (1) 4 bedroom unit. Current Rent is approximately $170.000 annual. The building has a new boiler system installed within the last 12 months, freshly painted hallways, , soffits and windows, along with a new resurfaced parking lot. Several units have been updated and all are in good condition. Upgraded main power source. There is a long term lease with the business on the first floor. Please do not walk on property without prior permission and do not speak with any occupants or tenants.

15605 Madison Avenue, Lakewood

Listing Courtesy of: Nick W Dolbin, ndolbin68@gmail.com With Red 1 Realty

Selling Office: Keller Williams Elevate.

$1,290,000

4502851 MLS

LAKEWOOD BAPTIST CHURCH has been a long standing community church with a rich history, serving the needs of Lakewood since 1922. The facility boasts over 29,000 sqft set on .80 acres in heart of desirable Downtown Lakewood, south side of Detroit Avenue between Lincoln Avenue and Olivewood Avenue. Original Structure of Church built in 1922 includes large chapel that can accommodate approximately 250-300, several offices, community/meeting rooms. All the character you expect from a 1920's property - custom stained glass, woodwork, hdwd floors, churgh organ, second floor balcony. Addition in 1950's added to back of Church was a former School & Day Care for many years - includes classrooms, storage rooms, office(s) & restroom. Annex added approximately 1970 and is connected to east side of Church with a courtyard/playground between two buildings - currently leased to an independent day care. Basement (former Church gym) is on MTM lease w/ fitness business - total 4 restrooms overall, approximately 38 parking spaces & small garage on property. The City of Lakewood is an inner-ring suburb that is located on Cleveland's western border & Lake Erie - Population of over 50,000 known for it's walkability, award winning restaurants, breweries, shops, arts and culture. Close proximity to Downtown Cleveland & Airport. Additional information available upon request. Private tours only - BE RESPECTFUL & DO NOT walk property or approach congregation, staff and tenants.

14321 Detroit Avenue, Lakewood

Listing Courtesy of: Michelle M Mehaffey, Michelle.Mehaffey@ReMax.net With RE/MAX Above & Beyond

Selling Office: RE/MAX Above & Beyond.

44107 Ohio Commercial Properties for Sale

44107 Ohio Commercial Properties