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$3,975,000
5215074 MLS
48 fully renovated units in Sheffield Lake, two buildings side by side, 100% occupied, priced at $3,975,000. That is $82,813 a door. In an operator's hands this stabilizes to a 7.4% cap on about $294,000 of NOI, with a clear path higher as rents reach market. The building is 100% occupied with a waitlist of tenants trying to get in, and rents sit about $130 a door under market. You do not need a renovation or a repositioning to hit pro forma. Re-rent at market on natural turnover and the income climbs on its own, up to about $368,000 in NOI, a 9.26% cap. All 48 units are done, shaker cabinets, granite, stainless, updated flooring, the whole nine yards. No gut job waiting for you. The buildings went up in 1972 and show well across 33,400 square feet. Tenants pay their own electric. Ownership covers heat, water and sewer, and trash, which is exactly where a sharp manager finds margin. On-site laundry and other income add about $35,000 a year on top of rent. The Ford Ohio Assembly Plant sits partly inside the town's own borders, and Ford is partway through a $1.5 billion expansion there set to add 1,800 jobs. Add a lakefront setting on Lake Erie about 17 miles west of downtown Cleveland, same shoreline as Avon Lake, and you have durable tenant demand parked next door. That is why these buildings stay full with a line out the door. Clean, easy buildings to run at a basis that does not come around often. Reach out and I will get you the full financials and rent roll.

5216 E Lake Road, Sheffield

Listing Courtesy of: Tal Tamir, tal@premierclevelandinvesting.com With Russell Real Estate Services
$110,000
5180667 MLS
Exceptional lease or purchase opportunity in Maria Plaza. This versatile retail/office condo is available for lease at $895 per month plus a $200 CAM charge, or for purchase at $115,000. Formerly used as an insurance office, the space offers endless possibilities for professional, retail, or service-based users. The property features a well-established, high-visibility storefront with a large shared parking lot providing ample parking for customers and staff. Enter through a welcoming vestibule with dual access doors into the unit, where you are greeted by a reception area, high ceilings, and spacious, well-lit rooms that are truly move-in ready. The current layout includes three private offices, two large media/meeting/recreation rooms with flexibility to add additional offices, includes a full bath on the main level, and a generous utility/storage area. Both front and rear entrances/exits add functionality and convenience. A unique second floor provides additional usable space ideal for a break room, meeting area, storage, or expanded operations. Central air for year round comfort. Easy to show and ready for immediate occupancy, this is an outstanding opportunity for an owner-user or investor seeking a flexible space in a prime, visible location.

4020 Colorado Avenue, Sheffield

Listing Courtesy of: Christopher A Frederick, thefrederickteam@gmail.com With Coldwell Banker Schmidt Realty

Selling Office: Coldwell Banker Schmidt Realty.

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