5728 Broadway Ave, Cleveland, OH 44127

High-yield mixed-use investment opportunity on Cleveland's Broadway corridor in the heart of Slavic Village. This 17,119 SF two-story brick building delivers $61,460 in stabilized NOI on just $12,735 in owner expenses — a 17.6% expense ratio that is virtually unmatched for a mixed-use asset in this market. Both tenants pay all utilities and maintenance, leaving the owner with a near-passive income stream backed by lease term.

The ground-floor retail tenant has executed a new 3-year lease at $5,000/month with a built-in escalation to $5,500/month in Years 2 and 3 — providing 36 months of contractual income security on 85% of the building's revenue. The upper-floor apartment tenant pays $850/month and has been in place for approximately four years despite a month-to-month arrangement, demonstrating strong de facto stability.

At the asking price, the property delivers a 14.0% stabilized cap rate (15.0%+ at Year 1 NOI), making it one of the highest-yielding income-producing assets currently available in the Cleveland market. The tenant-pays-all structure, combined with the 3-year lease and rent escalation, offers a rare combination of yield and security for investors seeking cash flow from day one.

PROPERTY HIGHLIGHTS:

• Stabilized NOI: $61,460 | Year 1 NOI: $54,240
• Stabilized Cap Rate: 14.0% at asking price
• 3-Year Retail Lease with escalation to $5,500/mo in Years 2–3
• Tenants pay ALL utilities and maintenance
• Owner expenses limited to taxes, insurance, and reserves ($9,000/yr)
• 17.6% expense ratio
• 17,119 SF brick building on 6,150 SF lot
• Built 1910 | 2 stories + full basement (5,872 SF)
• 4-year apartment tenant tenure (MTM)
• Zoned General Retail / Apartment
• Annual taxes: $5,615 (stabilized)

LOCATION: Situated on Broadway Avenue — the primary commercial corridor through Slavic Village — with a 77/100 walkability score and strong transit access. The neighborhood continues to see reinvestment, anchored by The Rising development and ongoing corridor improvements. Convenient access to I-77 and I-490.

Ideal for yield-focused private investors, 1031 exchange buyers, or portfolio builders seeking stabilized cash flow with minimal management responsibility.

Listed by Michael Pasadyn | Russell Commercial Advisory