Remarks

Nearly 6,000 Office Building on Cleveland Ave in Lake Township with 1.1 Acre Property. Excellent exposure with 107 ft Frontage, zoned C1 and a Traffic Count of nearly 10,000 cars per day! Current occupant to maintain on long-term lease on a portion of the building. There is further rental potential with 3 full levels, all with private entrances. The Main Level features an Entrance Area with 2 Story Foyer, Reception Desk, 2 Large Conference Rooms, Waiting Room, Grand Office with Fireplace, Front Office, Filing/Storage/Technology Area and a Half Bath. The Upper-Level features 5 Office Spaces, Reception Hall Area and a Filing/Storage/Technology Area. The Garden Level features 3 Offices, 2 Entrance Halls, a Meeting Area, Storage Area, Breakroom Area, 2 Half Baths and 3 Utility Areas. The entire building has beautiful details including natural woodwork, wood paneled walls, hardwood flooring and bright windows allowing natural light. The building was renovated in 1991 and has updated electrical. There are 2 Furnaces and newer Central Air with Zoned Capabilities. The parking lot and landscaping were updated in 2023. The roof is less than 10 years old with 25-year shingles. Once fully leased, this property has a potential for an 11%+ Cap Rate. This is the perfect opportunity for a business looking to have a presence in Lake Twp or for an investor looking for a strong Cap Rate and future potential. Please reach out for your private​​‌​​​​‌​‌​​​​​‌​​‌‌​‌​​​​‌‌​‌​​ showing!

Details

MLS#: 5110609
Price: $590,000

Style: Business
Sq Ft: 0
Year Built: 1943

County: Stark
Subdivision: Lake/Sec 07
Tax Fee: 7756

School District: Lake LSD Stark- 7606