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Commercial Real Estate for Sale at 8403 Detroit Avenue in Cleveland, OH for $775,000

Listing data last changed 09/30/2025 - 1:52pm
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8403 Detroit Avenue | Cleveland

$775,000 | 0.0 Sq. Ft.

Outstanding investment opportunity in Cleveland\u2019s sought-after Detroit-Shoreway / Gordon Square Arts District! This fully renovated mixed-use property features 5 modern residential apartments and 3 commercial storefronts in a prime location just minutes from downtown Cleveland and major highways.\r\n\r\n\r\n\r\nFour of the five apartments are currently leased (3 units at $1,000 and 1 at $800), generating $4,800/month in residential income. The commercial spaces add potential for an additional $6,500/month, bringing the property\u2019s total gross income potential to $135,600 annually.\r\n\r\n\r\n\r\nWith tenants responsible for gas and electricity, the owner\u2019s only expenses are water/sewer (approx. $200/month) and property taxes ($5,704 annually). Projected expenses remain under $8,200/year, producing an impressive Net Operating Income of approx. $127,500 and a 16%\u002B cap rate at the new asking price of $775,000.\r\n\r\n\r\nSituated in one of Cleveland\u2019s fastest-growing neighborhoods \u2014 close to Edgewater Park, Gordon Square Arts District, theaters, dining, shopping, and entertainment \u2014 this turnkey building offers stable cash flow, low expenses, and long-term appreciation potential. A true must-see for serious investors seeking both strong returns and an unbeatable location. MLSNow 5160526 Directions to property: On Detroit Ave

MLS Listing ID: 
MLSNow 5160526
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$775,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Mixed Use
Primary Market Area: 
Cleveland
Address: 
8403 Detroit Avenue, Cleveland, OH 44102
County: 
Cuyahoga
Latitude: 
41.4806520
Longitude: 
-81.7425980
Directions: 
On Detroit Ave
Public Remarks: 
Outstanding investment opportunity in Cleveland\u2019s sought-after Detroit-Shoreway / Gordon Square Arts District! This fully renovated mixed-use property features 5 modern residential apartments and 3 commercial storefronts in a prime location just minutes from downtown Cleveland and major highways.\r\n\r\n\r\n\r\nFour of the five apartments are currently leased (3 units at $1,000 and 1 at $800), generating $4,800/month in residential income. The commercial spaces add potential for an additional $6,500/month, bringing the property\u2019s total gross income potential to $135,600 annually.\r\n\r\n\r\n\r\nWith tenants responsible for gas and electricity, the owner\u2019s only expenses are water/sewer (approx. $200/month) and property taxes ($5,704 annually). Projected expenses remain under $8,200/year, producing an impressive Net Operating Income of approx. $127,500 and a 16%\u002B cap rate at the new asking price of $775,000.\r\n\r\n\r\nSituated in one of Cleveland\u2019s fastest-growing neighborhoods \u2014 close to Edgewater Park, Gordon Square Arts District, theaters, dining, shopping, and entertainment \u2014 this turnkey building offers stable cash flow, low expenses, and long-term appreciation potential. A true must-see for serious investors seeking both strong returns and an unbeatable location.
Community Information
School District: 
Cleveland Municipal - 1809
Subdivision: 
J F Rhodes
Building Details
Details about the building on a property.
Year Built: 
1910
Living Area: 
0.0
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: 
Gas
Water Source: 
Public
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.09
Lot Size (Area): 
0.09
Public Record
Parcel Number: 
002-20-010
Annual Tax: 
$5,704.00
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Disclosures: 
Principal is Real Estate Licensed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Office Name: 
Plum Tree Realty, LLC

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