Skip To Content

2831 Franklin Boulevard

Cleveland, OH 44113
  • $4,000,000
  • STATUS: Active
  • ON SITE: 88 Days
  • MLS #: 5012023
$4,000,000
  • 0
    BEDS
  • 0.67
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1934
County:
Area:

School Ratings & Info

School District:
Listing courtesy of Keller Williams Greater Metropolitan.
Listing information © 2024 YES-MLS.

Description

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)

Monthly Payment Calculator

Listing information © 2024 YES-MLS. All rights reserved. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of YES-MLS. Real estate listings held by brokerage firms other than RE/MAX Edge Realty are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). Information Deemed Reliable But Not Guaranteed. The photos may be altered, edited, enhanced or virtually staged. Data last updated 2024-04-04T00:08:14.937.
www.akroncantonhomesonline.com/homes/146742268
Print Image

2831 Franklin Boulevard Cleveland, OH 44113

  • Price: $4,000,000
  • Status: Active
  • On Site: 88 Days
  • MLS #: 5012023
0
Beds
0
Baths
0
½ Baths
0.67
Acres
1934
Built
Neighborhood:
West Side Masonic Temple Prcl A
County:
Cuyahoga
Area:
Cleveland
School District:
Cleveland Municipal
Property Description
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)
Exterior Features

Attached Garage YN No Parking Features On Site Outside Paved Parking Total 46 Roof Asphalt Fiberglass

Interior Features

Basement Partially Finished Basement YN Yes Building Area Total 35958 Building Features Bike Storage Health Club Meeting Rooms Private Restrooms Public Restrooms Reception Area Wi Fi Cooling Central Air Cooling YN Yes Foundation Details Basement Heating Forced Air Gas Heating YN Yes Main Level Bathrooms 0

Property Features

Community Features Fitness Center Current Use Recreational Elementary School District Cleveland Municipal - 1809 Middle Or Junior School District Cleveland Municipal - 1809 Property Sub Type Mixed Use Sewer Public Sewer Special Listing Conditions Standard Tax Annual Amount 61996 Township Cleveland Water Source Public

Listing information © 2024 YES-MLS.
Listing provided courtesy of Keller Williams Greater Metropolitan: 216-839-5500.
Listing information © 2024 YES-MLS. All rights reserved. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of YES-MLS. Real estate listings held by brokerage firms other than RE/MAX Edge Realty are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). Information Deemed Reliable But Not Guaranteed. The photos may be altered, edited, enhanced or virtually staged. Data last updated 2024-04-04T00:08:14.937.
 
https://bt-photos.global.ssl.fastly.net/normls/orig_boomver_1_5012023-2.jpg https://bt-photos.global.ssl.fastly.net/normls/orig_boomver_1_5012023-2.jpg https://bt-photos.global.ssl.fastly.net/normls/orig_boomver_1_5012023-2.jpg
Logo
RE/MAX Edge Realty
Serving Your Real Estate Needs In
Akron / Canton OH,
Listing courtesy of Keller Williams Greater Metropolitan.
Listing information © 2024 YES-MLS.