16500 Detroit Ave, Lakewood OH 44107 Photo 1 16500 Detroit Ave, Lakewood OH 44107 Photo 2 16500 Detroit Ave, Lakewood OH 44107 Photo 3 16500 Detroit Ave, Lakewood OH 44107 Photo 4 16500 Detroit Ave, Lakewood OH 44107 Photo 5 16500 Detroit Ave, Lakewood OH 44107 Photo 6 16500 Detroit Ave, Lakewood OH 44107 Photo 7 16500 Detroit Ave, Lakewood OH 44107 Photo 8 16500 Detroit Ave, Lakewood OH 44107 Photo 9 16500 Detroit Ave, Lakewood OH 44107 Photo 10 16500 Detroit Ave, Lakewood OH 44107 Photo 11 16500 Detroit Ave, Lakewood OH 44107 Photo 12 16500 Detroit Ave, Lakewood OH 44107 Photo 13

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16500 Detroit Ave - Seven storefronts and twelve residential units, all rented except one storefront for showings. Most long term tenants. All residential units are 1 bedroom with sunroom or 2 bedroom with sunroom. Some units have murphy beds in the sunroom. Owner pays heat for residential units, storefronts each have their own forced air furnaces with central air and pay their own heating/cooling expenses, with the exception of James Games which is on the boiler heat and has window unit A/C. Well maintained property. Roof tear off and replacement in approx 1995 - torch down w/unlimited warranty if recoated at least once every 5 years. Seller has recoated every 3-4 years; insulation was installed when roof was removed. Boiler replaced in approx 1992; heat timer replaced in 2014. Basement skylight replaced approx 2000 w/Lexan. All windows replaced at least twice over the 35 years the seller has owned the property. Retail tenants: James Games, Jolanda's Salon, Bean & Ink, Erie Design, eTech Computers. eTech Computers is currently occupying 2 storefronts. There is parking in the rear but the owners do not allow parking. Instead, it has been configured as a courtyard for the tenants to use for outdoor recreation. The driveway is shared with the property on Hall to the north of the building.

Listing information

  • MLS® ID: 3738457
  • Status: Sold on 2/25/2016
  • New Construction: No
  • Lot Size: 100x129
  • Style: Mixed Use
  • Stories: 2
  • Foreclosure: No
  • Estimated Annual Taxes: $21,977
  • Year Built: 1916
  • Parking Type Description: Uncovered 0 cars
  • Lot Area: 0.30
  • County: Cuyahoga

Features

Apartments Type Apartments/Retail
Available Financing Cash, Conventional
Basement Detail Common, Full, Other, Unfinished, Walk-Out
Cooling Type Central Air, Window Unit(s)
Fences Privacy, Wood
Heating Fuel Gas
Heating Type Hot Water/Steam, Radiators
Location Downtown, Public Transport, Suburban
Other Assessments YN - 0, Electric - 2063, Elevator YN - 0, Heat - 7540, Homestead Exemption YN - 0, Lot Size Depth - 129, Lot Size Frontage - 100, Num Of Apartments Total - 12, Num Of Units - 19, Residential SF - 13764, Retail Sq Ft - 5355, Sewer Water - 8047, Units 1 Bedroom - 7, Units 2 Bedroom - 5
Owner Pays Heating, Other, Sewer, Trash Collection, Water
Possession Time of Transfer
Property Subtype Mixed Use
Retail Type Shopping Center
Roof Asphalt/Fiberglass, Flat, Other
Tenant Pays Cable/Electric Link, Electric, Gas, Heating
Water Sewer Public Sewer, Public Water
Listing Courtesy of Russell Real Estate Services