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33906934
33906830

4050 E 116th St, Cleveland, OH 44105 For Sale

SM
OH 218003245
$289,000
47 days on market
Updated 4 days ago

Harvard Industrial

Details
APN 136-12-030
Property Type Office, Industrial (+1)
Sub Type Flex, Warehouse (+1)
Square Footage 9,424
Net Rentable (SqFt) 8,660
Units 3
Cap Rate 11.76%
NOI $34,000
Occupancy 33%
Tenancy Multi
Lease Type Gross
Lease Term 1
Lease Expiration 08/15/2026
Remaining Term 0.1
Price per SqFt $32
Class C
Year Built 1945
Year Renovated 2000, 2015, 2023
Buildings 1
Stories 1
Acreage 0.580
Zoning S1-B3 LIGHT INDUSTRY
Parking Spaces 20 spaces
Parking per 1,000 SqFt 2.12
Investment Type Owner/User
Lease Commencement 11/01/2024
Occupancy Date 06/02/2026
Ground Lease No
Ceiling Height 14
Sale Condition For sale by owner

​4 Rollup Doors to 4 Industrial Shops + 9 Offices | 11.37% CAP | 9,424 SqFt

Marketing description

Shops have 14' ceilings, concrete floors, block walls and sewer taps.

Lighting is LED and natural glass block.

Offices have beautiful stained wood trim and baseboard and tile flooring.

Shop 1 and 2 together are 60' x 30', connected by 10' x 10' openings.

No heater installed but Gas line and heater vent installed, and heat can flow from Shop 3.

Entry is by 42" man door and new 10'8" x 11'6" high roll-up door. 10' x10' opening to shop 3.

Shop 3 is 40' x 30'

Floor drain and water from hose bib.

Gas furnace. Ceiling is insulated.

10' x 12' high electric roll upoor, and man door to central offices.

10' x 10' sliding door to shop 1.

Full bath features sink, toilet room, tiled tub shower, and glass block lighting

45 gal water heater.

Shop 3 Elevated Offices have Central HVAC and insulation,

15' x 20' room has 2 offices separated by partial wall.

14 110V receptacles

Door to a 10' x 13' insulated room with 4 receptacles.

Option: One or more pre-fab offices could be removed to increase shop space

Shop 4 is 40' x 30'.

Has a newer 10 x 10' electric roll up with remote and a new 42" man-door

Block walls are white

Floor drain

Reznor gas furnace.

Door to kitchen, bath and offices.

Shop 5 is 30' x 90'

Front is concrete but rear is gravel.

10' x 10' roll up door and man-door.

Lighting is by 6 glass large block windows, and 6 overhead floodlights

two 4 ton Lifts spans entire shop on 90' I-beams

3 phase and single phase power meter sockets

Door to kitchen, bath and offices.

No heater installed but Gas line and heater vent are in place, and a Bryant working Heater

Large electric vent in center ceiling.

Central Offices have elegant wood trim and tile flooring,

Entry is through a 3.5 ' steel door. Foyer leads to a hallway connecting 6 offices, 3 shops, kitchen and bath.

Lobby is 16' x 16' with a 12 camera security monitor and glass block lighting.

Open ceiling office is 14' x 10' with track lighting and high ceiling.

Long office, Suite C is 29 ' x 12' with dropped ceiling. Ideal single office rental with exterior entry on SW corner.

Lighting is glass block, 8 flat panel fluorescents, 2 recessed cans, and a door light.

Door to shared kitchen and bath.

Conference Room is 20 x 12 with a French doors and vaulted ceiling.

Features corner sink, 8 recessed can lights and a chandelier in center.

Quiet away from exterior walls.

Shop 4 Office is 13' x 16' and quiet away from exterior walls. A few steps from Shop 4.

Small 10' x 13' room has stairs to furnace room.

Maintenance or building manager room.

Kitchen has sink, dishwasher, garbage disposal, and cabinets

stairs lead to 20 gal water heater and security system.

Attic has 20 gal water heater shelf for DVD security system

Half bath next to kitchen has toilet and sink

Investment highlights

  • Can be rented as 2-5 units.
  • Demand for automotive repair and storage next to Eagle Auto Parts
  • Good retail visibility at Harvard T Intersection with stopped traffic facing building.
  • Central location, most of Cleveland reachable in 25 min.
  • 4 Drive-through Rollup doors to 6440 SF of shop space with glass block lighting
  • Shops have 14' ceilings, concrete floors, block walls and sewer taps.
  • 9 Offices including Lobby and stylish conference room
  • Offices have beautiful stained wood trim and baseboard and tile flooring.
  • Glass Block Lighting with warm South Exposure
  • Kitchen and 1.5 baths including shower and laundry hookups
  • 20 parking spaces on high ground
  • External lighting and ADT security system
  • Renovated in 2023

Listing Contacts

SM
OH 218003245

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Loan Amount
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Annual Cash Flow
$34,000.00
$2,833.33/mo

Valuation Metrics

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DSCR
11.76%
Cap Rate
11.76%
ROI

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Additional Information

Name
Scott Marvin
License
218003245
Brokerage
Team Results Realty
Brokerage Phone
6145819497
Title
Real Estate Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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