11723 LORAIN AVE Cleveland OH 44111

Mixed-Use Building for Sale | Retail + Residential | Cleveland, OH

11723 Lorain Avenue is a ±6,130 SF mixed-use investment property located along the Lorain Avenue retail corridor on Cleveland’s west side.​ The asset features ±2,262 SF of vacant, turnkey street-level retail, three (3) renovated residential apartments above, a full basement, and rear on-site parking.​

The retail space offers immediate lease-up and value-add potential with strong visibility and traffic counts of ±13,084 VPD on Lorain Ave and ±22,780 VPD on W 117th St.​ The residential units include a 1-bedroom, 2-bedroom, and studio, all recently renovated with new appliance packages and individual mechanical systems, limiting near-term capital expenditures.​

The property is surrounded by national and regional retailers including Target, Giant Eagle, Bank of America, ArchWell Health, Dunkin’, McDonald’s, Taco Bell, and Save-A-Lot, supporting both retail demand and residential tenancy.​ Offered individually or as part of a two-asset portfolio, this is an ideal opportunity for value-add investors, owner-users, or 1031 buyers.​

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  ±6,130 SF Mixed-Use Building

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  ±2,262 SF Turnkey Street-Level Retail

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    (Recently vacated, previous tenant paid $2,500/month, modified gross)

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  ±2,200 SF Renovated Walk-Up Residential

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    Current Total Rent = $3,100/Month | $37,200 annually

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  ±1,668 SF Basement

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  Rear On-Site Parking

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  Retail Lease-Up Opportunity

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  Neighboring retailers include Target, Giant Eagle, Bank of America, ArchWell Health, Dunkin', McDonald's, Taco Bell, Save-A-Lot, Shoppers World, Family Dollar, and others.

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  Stabilized Gross Annual Rent: $67,200

Residential Overview

Three (3) Renovated Walk-Up Apartments

Unit Mix:

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  1-Bedroom: ±700 SF

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    $1,100/Month

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  2-Bedroom: ±1,100 SF

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    $1,300/Month

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  Studio: ±400 SF

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    $700/Month

All Units Recently Renovated

New Full Appliance Packages

Individual Mechanical Systems

New furnaces

New A/C units

New water tanks

Fully Renovated Mixed-Use Gem on Lorain Ave near I-90! This meticulously updated building offers a fantastic investment opportunity or the perfect live/work setup. Featuring a spacious 2,000 sq ft storefront with basement storage, plus three updated apartments above (1-bed, 2-bed, and efficiency). Enjoy new windows and mechanicals throughout, dedicated rear parking, and a strong rental history ($2500/month for the commercial space). Don't miss out on this prime Cleveland location!