Teri Chmielewski
This listing was posted on Teri Chmielewski (via ListedBuy).
$1,050,000
Cleveland, Cuyahoga County, OH Commercial Property, House for sale Property ID:
Price:
$1,050,000
BR/BA:
2 BR
Location:
11219 Detroit Avenue, Cleveland, OH
Description:
The Bar is offered separately at $500,000 based on 2022 gross receipts of $534,000, confirmed by the Clover POS. The building will not be sold separately. Based on a $650,000 valuation, the cap rate is 7.17%, calculated by dividing the NOI of $46,588 by $650,000. The sale and expenses are actual from 2022, not proforma. As is obvious, there is room to raise sales, for all tenants are MTM. The Hawk, as well is the head shop, record store and four apartments (two 1BR and two 2BR), are in pristine condition, so the new owner can start serving drinks and collecting sale with no additional investment. The same owners have maintained this property located a few blocks from Lakewood for 27 years. Improvements over the past ten years include new roof, sky lights, windows, boiler, electrical service, water tanks, AC in bar and retail, and rhino shield. Since 2019, investments include Clover POS, ice machine, bar sink, coolers and asphalt parking lot. For more information, contact Ben Chmielewski at. Copyright © 2024 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Still available at ListedBuy!
Property Type:
Commercial & Office Space for Sale
Sq feet:
5,708 sq. ft.
Amenities:
AC
For sale by:
Agent/Broker
Agent Name:
Teri Chmielewski
Posted:
January 14 on ListedBuy
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More About this Listing: Cleveland, Cuyahoga County, OH Commercial Property, House for sale Property ID:
Cleveland, Cuyahoga County, OH Commercial Property, House for sale Property ID: is a Two Bedroom Commercial Real Estate for Sale at 11219 Detroit Avenue in Cleveland OH. Find other listings like Cleveland, Cuyahoga County, OH Commercial Property, House for sale Property ID: and listings near 11219 Detroit Avenue by searching Oodle Classifieds for Two Bedroom Commercial Real Estate for Sale in Cleveland OH.
Cleveland, Cuyahoga County, OH Commercial Property, House for sale Property ID: is a Two Bedroom Commercial Real Estate for Sale at 11219 Detroit Avenue in Cleveland OH. Find other listings like Cleveland, Cuyahoga County, OH Commercial Property, House for sale Property ID: and listings near 11219 Detroit Avenue by searching Oodle Classifieds for Two Bedroom Commercial Real Estate for Sale in Cleveland OH.