Commercial Real Estate for Sale at 2800 Mayfield Road in Cleveland Heights, OH for $1,200,000

Listing data updated April 14, 2025 - 2:43pm
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2800 Mayfield Road | Cleveland Heights

$1,200,000 | 0.0 Sq. Ft.

Premier Investment Opportunity \u2013 High-Yield Mixed-Use Asset in Coventry Village! An exceptionally rare chance to acquire a high-performing, cash-flowing mixed-use property at the prime intersection of Coventry and Mayfield Rd. This iconic building is located in the heart of Coventry Village, a vibrant destination surrounded by popular restaurants, bars, and entertainment.\r\nThis property offers multiple income streams, consisting of six fully occupied, updated apartments, two commercial spaces, and two storefronts. The large commercial storefront is currently occupied by Pacific East, a renowned Japanese restaurant that has just signed a 10-year lease extension, providing long-term stability for investors. The residential units have been thoughtfully upgraded with refinished hardwood floors, fresh paint, modernized kitchens and bathrooms, in-unit laundry, central air, and individual furnaces and water tanks. Additionally, vinyl windows and separate utility meters further enhance the property\u2019s efficiency. Residents also benefit from ample on-site parking\u2014an invaluable asset in this highly sought-after neighborhood.\r\n\r\nFrom a financial perspective, this property delivers immediate, strong returns with a 9% cap rate and double-digit cash-on-cash returns from day one. The two vacant storefronts offer additional value-add potential, allowing for further income growth once tenants are secured.\r\n\r\nThis is a rare opportunity to acquire a cornerstone asset in Coventry Village\u2014an established, high-demand location that offers immediate cash flow and long-term appreciation potential. Don\u2019t miss out on this exceptional investment. MLSNow 5111928

Directions to property: East of HWY 20

MLS Listing ID: 
MLSNow 5111928
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Status (Local): 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$1,200,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Mixed Use
Primary Market Area: 
Cleveland Heights
Address: 
2800 Mayfield Road, Cleveland Heights, OH 44118
County: 
Cuyahoga
Latitude: 
41.5115180
Longitude: 
-81.5796650
Directions: 
East of HWY 20
Public Remarks: 
Premier Investment Opportunity \u2013 High-Yield Mixed-Use Asset in Coventry Village! An exceptionally rare chance to acquire a high-performing, cash-flowing mixed-use property at the prime intersection of Coventry and Mayfield Rd. This iconic building is located in the heart of Coventry Village, a vibrant destination surrounded by popular restaurants, bars, and entertainment.\r\nThis property offers multiple income streams, consisting of six fully occupied, updated apartments, two commercial spaces, and two storefronts. The large commercial storefront is currently occupied by Pacific East, a renowned Japanese restaurant that has just signed a 10-year lease extension, providing long-term stability for investors. The residential units have been thoughtfully upgraded with refinished hardwood floors, fresh paint, modernized kitchens and bathrooms, in-unit laundry, central air, and individual furnaces and water tanks. Additionally, vinyl windows and separate utility meters further enhance the property\u2019s efficiency. Residents also benefit from ample on-site parking\u2014an invaluable asset in this highly sought-after neighborhood.\r\n\r\nFrom a financial perspective, this property delivers immediate, strong returns with a 9% cap rate and double-digit cash-on-cash returns from day one. The two vacant storefronts offer additional value-add potential, allowing for further income growth once tenants are secured.\r\n\r\nThis is a rare opportunity to acquire a cornerstone asset in Coventry Village\u2014an established, high-demand location that offers immediate cash flow and long-term appreciation potential. Don\u2019t miss out on this exceptional investment.
Community Information
School District: 
Cleveland Hts-Univer - 1810
Subdivision: 
M M Browns
Building Details
Details about the building on a property.
Year Built: 
1915
Living Area: 
0.0
Basement: 
Full,Storage Space
Construction
Foundation Details: 
Basement
Roof: 
Composition,Flat
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
0
Total Full-Bathrooms: 
0
Total Half-Bathrooms: 
0
Total One-Quarter-Bathrooms: 
0
Total Three-Quarter-Bathrooms: 
0
Utilities
Information about utilities available on the property.
Heating System: 
Hot Water,Steam
Cooling System: 
Central Air
Water Source: 
Public
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.27
Lot Size (Area): 
0.27
Lot Features
Parking Type: 
On Site,Off Street,Paved
Public Record
Parcel Number: 
684-04-001
Annual Tax: 
$26,206.00
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Agent Name: 
Tal Tamir
Listing Office Name: 
Russell Real Estate Services

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