3240 W 98th Street Cleveland, OH $ 1,399,000
3240 W 98th Street
$ 1,399,000
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3240 W 98th Street

Cleveland, OH, 44102
$ 1,399,000
Bedrooms-- Baths--

Monthly Estimate*

$ 8,614

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Commercial Property for sale in Cleveland, OH

for $1,399,000. This building was built in 1928 on a lot size of 0.24.

Summary: All Brick - 2 story low rise boasts: 17) unit with 5) main street level retail units with high visibility and 12) residential and 5) Retail. Mix: 4) 2 bed/1bath, 7) 1 Bed/1 bath, 1) studio/1 bath and 5) retail This offering presents a compelling investment opportunity in a mixed-use asset located minutes to Cleveland's downtown. The property comprises 12 well-maintained apartment units and 5 ground-floor retail shops, complemented by a private parking lot at the rear. Highlights: - CAP rate operates at 7.1% "As Is", with proforma at 8.9% small adjustments needed to be implemented. - Great occupancy history. _ Currently professionally managed would stay on. - - Common area renovations included all common area, halls and entries newly painted, all new LED house lighting added for energy saving.

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Commercial Active

Price

$ 1,399,000

Property Type

Commercial

Taxes

$ 28,487

Style

Lot Size

0.24

Year Built

1928

Town/City

Cleveland

County/Region

Cuyahoga

MLS | Web ID

5186026

Features
General
Sewer Public Sewer
Heating Heat Pump Hot Water Radiant Steam
Possession Close Plus 30 Days
Roof Asphalt Fiberglass Rubber
Security Features Security System
Year Built 1928
Stories Count 2
Township Cleveland
Levels Two
Property Subtype Apartment
Tax Year 2025
Current Use Multi-Family
County Cuyahoga
Net Operating Income 99078
Operating Expense 48642
Property Type Commercial Sale
Attached Garage false
Status Active
Directions South off Lorain Avenue headed East at corner of W 98th Street and Dennison Ave
City Cleveland
High School District Cleveland Municipal - 1809
Zoning Description Commercial
Number Of Units Total 17
Lot Size Units Acres
Tax Annual Amount 28487
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Occupancy Type Tenant
Middle/Junior School District Cleveland Municipal - 1809
Elementary School District Cleveland Municipal - 1809
Year Built Source Public Records
Total Actual Rent 153600
Property Sub Type Additional Apartment
Cap Rate 7
Legal Description 14 APPLEWD S/L 5 ALL 0004 ALL
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Interior
Basement Apartment Common Basement Full Finished Concrete Sump Pump Storage Space Walk-Up Access
Total Stories 2
Basement (Y/N) true
Heating Y/N true
Laundry Features Coin-operated
Main Level Bathrooms 0
Total Baths 0
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Exterior
Parking Features Assigned Driveway Outside Paved Parking Lot
Water Source Public
Total Parking 12
Lot Size Area 0.24
Foundation Details Basement
Number of Buildings 1
Building Area Total 15607
Lot Size Acres 0.24
Lot Size Source Assessor
Waterfront Y/N false
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* Excluded Features
List By
James P Matheos

Listing Agent

Keller Williams Citywide

Broker

jmatheos@kw.com

Email

Affordability Calculator

$10,988
Per Month
78%
22%
0%
Monthly Principal & Interest
$8,614
Monthly Property Taxes
$2,374
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% 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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Nearby
4457981 Elementary School
4457986 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
2/12/2026$1,399,000 Listed Price

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3240 W 98th Street, Cleveland, OH, 44102 is a Commercial Property for sale at $1,399,000 with a lot size of 0.24. 3240 W 98th Street was built in 1928. The property's zip code is 44102 which is in Cleveland, OH