Commercial Real Estate for Sale at 2831 Franklin Boulevard in Cleveland, OH for $4,000,000

Listing data updated February 23, 2024 - 2:09pm
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2831 Franklin Boulevard | Cleveland

$4,000,000 | 0.0 Sq. Ft.

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.\r\nAfter a $200,000 investment to ready the 6,000 SF, the 9% cap rate is calculated as follows:\r\n($22,000 x 12 months) + (6,000 x $19.00) = ($378,000 / .09) = ($4,000,000 + $200,000) MLSNow 5012023

Directions to property: In the heart of Ohio City.

MLS Listing ID: 
MLSNow 5012023
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: 
$4,000,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Mixed Use
Primary Market Area: 
Cleveland
Address: 
2831 Franklin Boulevard, Cleveland, OH 44113
County: 
Cuyahoga
Latitude: 
41.4870350
Longitude: 
-81.7094160
Directions: 
In the heart of Ohio City.
Public Remarks: 
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.\r\nAfter a $200,000 investment to ready the 6,000 SF, the 9% cap rate is calculated as follows:\r\n($22,000 x 12 months) + (6,000 x $19.00) = ($378,000 / .09) = ($4,000,000 + $200,000)
Community Information
School District: 
Cleveland Municipal - 1809
Subdivision: 
West Side Masonic Temple Prcl A
Community Features: 
Fitness Center
Building Details
Details about the building on a property.
Year Built: 
1934
Builder: 
Masonic Temple
Living Area: 
0.0
Basement: 
Partially Finished
Construction
Foundation Details: 
Basement
Roof: 
Asphalt,Fiberglass
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: 
Forced Air,Gas
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: 
0.67
Lot Size (Area): 
0.67
Lot Features
Parking Type: 
On Site,Outside,Paved
Total Parking Spaces: 
46
Public Record
Parcel Number: 
003-32-003
Annual Tax: 
$61,996.00
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Agent Name: 
Teri G Chmielewski
Listing Co-Agent Name: 
Ben Chmielewski
Listing Office Name: 
Keller Williams Greater Metropolitan
Listing Co-Office Name: 
Keller Williams Greater Metropolitan

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