Newly Built Ohio Mixed Use Investment Opportunity

$8,200,000

4329 Lorain Avenue, Cleveland, OH 44113

For Sale

Mixed Use Residential/Retail

Active

Last Updated: 01/09/2025

Details:

Cap Rate: 6.9%

Pro Forma Cap Rate : 7.8%

NOI: $560,000

Building Size: 28,225 sqft

Lot Area: 1.35 acres

Occupancy: 94%

Class: A

Units: 20

Lease Type: Modified Gross

Zoning: Commercial

Year Built: 2022,2024

Tenancy: Multiple

Floors: 2

Parking Spots: 56

Year Last Renovated: 2024

Gross Leaseable Area: 28,000

Construction Status: Oct completion

Number of Elevators: 2

Roof: Flat Membrane

HVAC: Yes

CeilingHeight: 10

Investment Strategy: Value Add

Offered by Broker

Michael Johns

Principal

GSA Realty Advisors, Inc.

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Highlights:

Urban In-fil Class A Development
Mixed-Use one-of-a-kind asset
Near Lake Erie / Harbor 44
Proximity to CBD, downtown Cleveland, and employment hubs
NNN and MD Leases
Credit Tenancy
Long-Term Leases

Description:

Newly Developed in 2024 Harbor 44 and Harbor Flatts is a mixed-use investment opportunity. With its office, retail and multi-family component, the asset boasts a diverse tenancy, in-line credit with the SSA/GSA. Sherwin Williams, Dominos and other local tenants. The 15-luxury flats make up the multi-family component.