Commercial Real Estate for Sale at 608 E 185th in Euclid, OH for $269,900

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608 E 185th | Euclid

$269,900 | 0.0 Sq. Ft.

This 6-unit mixed-use property on East 185th Street offers a rare combination: four commercial storefronts and a residential duplex on the same lot, priced at just $45,000 per door. One commercial unit is vacant and ready for immediate lease-up, while the occupied spaces are well below market rent, creating a clear path to stabilization.\r\nThe duplex units are currently leased at $575 and $625 per month, with market rents closer to $850. The commercial spaces average $700-750 against an $800 market rate. A brand-new roof was just installed on the commercial building, eliminating a major capital expense for the next owner. With proforma numbers showing a 12%\u002B cap rate and over 19% cash-on-cash return, this is a straightforward value-add play in a high-traffic corridor just outside Euclid. MLSNow 5187357 Directions to property: Corner of E 185th st and Cornwall Road

MLS Listing ID: 
MLSNow 5187357
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$269,900
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Mixed Use
Primary Market Area: 
Euclid
Address: 
608 E 185th, Euclid, OH 44119
County: 
Cuyahoga
Latitude: 
41.5910420
Longitude: 
-81.5502160
Directions: 
Corner of E 185th st and Cornwall Road
Public Remarks: 
This 6-unit mixed-use property on East 185th Street offers a rare combination: four commercial storefronts and a residential duplex on the same lot, priced at just $45,000 per door. One commercial unit is vacant and ready for immediate lease-up, while the occupied spaces are well below market rent, creating a clear path to stabilization.\r\nThe duplex units are currently leased at $575 and $625 per month, with market rents closer to $850. The commercial spaces average $700-750 against an $800 market rate. A brand-new roof was just installed on the commercial building, eliminating a major capital expense for the next owner. With proforma numbers showing a 12%\u002B cap rate and over 19% cash-on-cash return, this is a straightforward value-add play in a high-traffic corridor just outside Euclid.
Community Information
School District: 
Euclid CSD - 1813
Building Details
Details about the building on a property.
Year Built: 
1927
Living Area: 
0.0
Construction
Roof: 
Asphalt
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
0
Total Full-Bathrooms: 
0
Total Half-Bathrooms: 
0
Total One-Quarter-Bathrooms: 
0
Total Three-Quarter-Bathrooms: 
0
Utilities
Information about utilities available on the property.
Heating System: 
Forced Air
Cooling System: 
None
Water Source: 
Public
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.16
Lot Size (Area): 
0.16
Lot Features
Parking Type: 
Asphalt
Public Record
Parcel Number: 
114-11-028
Annual Tax: 
$5,454.00
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Office Name: 
Russell Real Estate Services

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