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2831 Franklin Boulevard Cleveland, OH $ 4,000,000
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$ 4,000,000 Get more info
2831 Franklin Boulevard
$ 4,000,000
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Share Save

2831 Franklin Boulevard

Cleveland, OH, 44113
$ 4,000,000
Baths0.0

Monthly Estimate*

$ 27,941

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Studio

Commercial Property for sale in Cleveland, OH

for $4,000,000. This building was built in 1934 on a lot size of 0.6675.

This historic landmark is home to Cleveland Rocks, the largest rock climbing facility in northeast Ohio. 2831 Franklin Blvd., located in the heart of Ohio City, is being offered at an 9% cap rate. This is based on the rock climbing business having a long term NNN lease at $22,000 per month and 2/3 of the remaining 9,000 SF being leased at $19.00 SF NNN. It has been explored to develop this space for a restaurant, yoga studio and co-working space. After a $200,000 investment to ready the 6,000 SF, the 9% cap rate is calculated as follows: ($22,000 x 12 months) + (6,000 x $19.00) = ($378,000 / .09) = ($4,000,000 + $200,000)

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Commercial Active

Price

$ 4,000,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 61,996

Style

Lot Size

0.6675

Year Built

1934

Town/City

Cleveland

County/Region

Cuyahoga

MLS | Web ID

5012023
Features
General
Sewer PublicSewer
Heating ForcedAir Gas
Cooling CentralAir
Possession DeliveryOfDeed
Roof Asphalt Fiberglass
Year Built 1934
Township Cleveland
Property SubType MixedUse
Tax Year 2023
Current Use Recreational
Business Type Recreation
Community Features FitnessCenter
County Cuyahoga
New Construction N
Property Type CommercialSale
Association Amenities BikeStorage
HOA / Comm Assn N
Attached Garage N
Subdivision Name West Side Masonic Temple Prcl A
Garage Y/N N
Building Features BikeStorage HealthClub MeetingRooms PrivateRestrooms PublicRestrooms ReceptionArea WiFi
Status Active
Directions In the heart of Ohio City.
City Cleveland
View Y/N N
Senior Community Y/N N
High School District Cleveland Municipal - 1809
Waterfront Y/N N
Carport Y/N N
Street Name Franklin
Property Attached Y/N N
Land Lease Y/N N
Tax Annual Amount 61996.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 37
Building Area Units SquareFeet
Builder Name Masonic Temple
Standard Status Active
Occupancy Type Owner
Middle/Junior School District Cleveland Municipal - 1809
Elementary School District Cleveland Municipal - 1809
Total Actual Rent 22000.0
Property Sub Type Additional MixedUse
Cap Rate 9.0
Legal Description VOL 373 PG 5 S/L PCL A FF 233.66 D 172.16 0.6671 AC OL 51 ASSOCIATED PARCEL 00332004 DESCRIPTION CHANGE 2014 SR
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Interior
Basement PartiallyFinished
Basement (Y/N) Y
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Street Suffix Boulevard
Electric On Property Y/N N
Main Level Bathrooms 0
Total Baths 0
Living Area Units SquareFeet
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Exterior
Parking Features OnSite Outside Paved
Water Source Public
Total Parking 46.0
Lot Size Area 0.6675
Foundation Details Basement
Spa N
Building Area Total 35958.0
Lot Size Acres 0.6675
Lot Size Units Acres
Lot Size Source PublicRecords
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 2831
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* Excluded Features
List By
Teri G Chmielewski

Listing Agent

Keller Williams Greater Metropolitan

Broker

tchmielewski@kw.com

Email

Affordability Calculator

$33,108
Per Month
84%
16%
0%
Monthly Principal & Interest
$27,941
Monthly Property Taxes
$5,166
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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THE TIME TO SELL IS NOW!
Nearby
4457612 Elementary School
4457721 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
1/18/2024$4,000,000 Listed Price

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2831 Franklin Boulevard, Cleveland, OH, 44113 is a Commercial Property for sale at $4,000,000 with a lot size of 0.6675. 2831 Franklin Boulevard is a studio with 0.0 baths and was built in 1934. The property's zip code is 44113 which is in Cleveland, OH

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