Offering Summary
Presenting a unique mixed use building with a great street presence. This 13 unit property hosts 7 spacious apartment units and 6 prominent retail store fronts, in the heart of the Madison Avenue commercial district of Lakewood.
The apartments were converted office units allowing the current owner to create an updated and more modern floor plan compared to similar properties in the area. The property also offers off street parking directly behind the building.
Submarket Overview
Located in historic Lakewood, within close proximity to downtown Cleveland, shopping, restaurants and entertainment venues. Lakewood offers the amenities of downtown living with the charm of a small town
Submarket Demographics |
| Submarket Population: | 56,646 |
| Renter Occupied Housing: | 51.5% |
| Submarket Trend: |
 Stable
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Property Facts |
| Location: | 14547 Madison, Lakewood, OH |
| Number of Units: | 13 |
| Offering Price: | $475,000 |
| |
| Net Operating Income: | $40,637 |
| Cap Rate: | 8.56% |
| Building Occupancy: | 93% |
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| Unit Mix: |
| Units | Type |
Avg. Rent |
| 4 | 1 Bedroom | $505 |
| 3 | 2 Bedroom | $632 |
| 6 | store fronts | $566 |
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