11723 Lorain AvenueCleveland, OH 44111

Property Description

EXCEPTIONAL mixed-use investment opportunity in this well-maintained corner property offering strong income potential and multiple revenue streams!! With the existing rental income and the value-add for the storefront, this property is at 12% Cap rate! ***The first level consists of an open-concept commercial storefront with outstanding visibility along a high-traffic corridor, making it ideal for retail, showroom, office, or service-based businesses. It consists of approx 2200 SF space with a kitchen, private bathroom, and additional storage. Amazing potential and value-add, currently used as a storage area, this storefront can easily be rented out for $2500+/month. ***The second floor consists of three fully remodeled residential apartments, providing immediate income; 2 beds (generating $1300/m), 1 bed (generating $1100/m), and an efficiency (generating $700/m), each featuring updated kitchens with shaker cabinetry, granite countertops, modern bathrooms, updated flooring, recessed lighting, and contemporary finishes throughout. Separate HWT, Separate furnaces, Tenants pay all utilities. Owner pays water/sewer. ***Additional features include: New roof - New windows - New Hot water Tanks - Newer Furnaces - central Air (except for the efficiency unit) New Electric panels Large corner lot with excellent street presence Private rear parking area Separate entrances for commercial and residential tenants Updated interiors throughout High-visibility location with strong daily traffic counts Excellent opportunity for investors or owner-occupants seeking live/work or income-producing property Whether you're expanding your investment portfolio or looking for a property that combines commercial income with renovated residential units, this versatile mixed-use building offers exceptional value and long-term upside.

Property Features

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