3108 Mayfield Rd, Cleveland Heights, OH 44118

Significant Upside through Leasing

The property offers a significant value-add opportunity with 11 vacant units out of 52 total units, resulting in an occupancy rate of 75%. This creates an opportunity to immediately increase rental income by leasing the vacant commercial units and apartments. Developers may look at utilizing historic tax credits or converting vacant office space to additional apartments.

Historic Property with Minimal Deferred Maintenance

This well-maintained historic asset, built in 1915 (Mayfield) and 1921 (Whitethorn), has undergone significant capital improvements, including new fire escapes and interior renovations, significantly reducing the capital expenditures budget for a future owner.

Strategic Walkable Location

Ideally located within a highly walkable neighborhood, the property benefits from proximity to University Circle, Little Italy, and a variety of retail, dining, and cultural attractions.

Attractive Price Per Square Foot

Offered at an attractive price per square foot, this property presents an excellent entry point for investors seeking to capitalize on Cleveland Heights’ ongoing development and the increasing demand for mixed-use spaces.