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6573-6579 Pearl RD Parma Heights, OH 44130
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Key Details
Sold Price $343,535
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 6,500 sqft
Price per Sqft $52
Subdivision Briar-Cliff 05
MLS Listing ID 4475807
Sold Date 11/07/23
HOA Y/N No
Abv Grd Liv Area 6,500
Year Built 1957
Annual Tax Amount $11,722
Lot Size 0.429 Acres
Acres 0.4287
Property Description
Court Appointed Receiver, Prodigy Properties, is pleased to present the opportunity to acquire 6573-6579 Pearl Rd located in Parma Heights, OH. Parma Heights is considered a submarket of Cleveland and is only 8 miles southwest of downtown Cleveland. Constructed in 1957, this intriguing investment opportunity features a multi-tenant retail building with seven (7) separately demised units, each approximately 928 SF for a total of 6,500 SF. Each unit has its own bathroom, water heater, dedicated HVAC unit, and separately metered utilities. The property is currently 71% occupied. The new owner will benefit from an immediate rent base with significant upside potential by increasing existing below market rents, extending existing MTM tenants, and leasing-up the two vacant units. Situated on .429 acres, providing approximately 20 parking spaces.
Location
State OH
County Cuyahoga
Interior
Heating Forced Air, Gas
Cooling Central Air
Fireplace No
Exterior
Parking Features On Site, Paved
Water Access Desc Public
Roof Type Flat
Total Parking Spaces 20
Building
Foundation Slab
Sewer Public Sewer
Water Public
Schools
School District Parma Csd - 1824
Others
Tax ID 473-34-004
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
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Bought with Non-Member Non-Member • Non-Member