$1,350,000
About this home
Rare opportunity to own a fully leased, income-producing brick commercial building in the heart of Cleveland's historic Warehouse District entertainment corridor. This two-story building (6,566 SF) offers built-out hospitality space on each floor, plus a full basement, and is 100% leased under two separate five-year NNN leases generating $156,000 in combined Year 1 contracted rent, with built-in annual escalations to $165,600 by Year 5 (2029). Both leases are executed; neither tenant has opened for business yet — ownership is completing tenant improvements on both floors ahead of a planned simultaneous grand opening. Under the NNN structure, tenants are responsible for real estate taxes, insurance, utilities, and routine maintenance once operating, creating a low-management income profile for a new owner. The building features a second-floor outdoor deck/patio, a full basement offering storage or future buildout potential, and the landlord retains rights to lease exterior walls for billboard signage. Located between Johnson Court and West St. Clair Avenue, steps from Playhouse Square (the nation's second-largest performing arts center), professional sports venues, and a growing downtown residential base. Submarket vacancy is exceptionally tight (about 1.2% within a half-mile), with average asking retail rents near $21/SF NNN, reflecting strong, supply-constrained demand. Built in 1910 and well maintained, the building blends historic brick character with contracted lease income, an attractive offering for 1031 exchange buyers or long-term investors. Lease documents available upon request to qualified buyers.
Property details
- MLS
- NOWDD
- MLS #
- 5242403
- Property type
- Retail
- Subdivision
- Historic Warehouse District
- Status
- Active
- Days on market
- 102
- On market date
- June 12, 2026
- Stories
- 2
- Total bathrooms
- N/A
- Garage spaces
- N/A
- Parking spaces
- N/A
- Lot size
- 0.0928 acres
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.
- Enrollment
- 221
- Student:teacher ratio
- 13.8:1
- District
- Near West Intergenerational School
- Enrollment
- 74
- Student:teacher ratio
- 37.0:1
- District
- Constellation Schools: Stockyard Community Middle
- Enrollment
- 293
- Student:teacher ratio
- 17.2:1
- District
- Cleveland Municipal
Walkability
Blended score for Cleveland's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in Cleveland, from live MLS data.
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Data source: Listing information provided by NOWDD via Trestle/CoreLogic. Last updated 24 days ago.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.