Retail Business for Sale in Cleveland, OH

  • Price: $1M
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Cleveland, OH 44102
  • Size: 11,614 SF
  • Year built: 1952

Description

This rare opportunity presents an ideal option for an owner-user or developer in the heart of the vibrant Gordon Square/Detroit Shoreway neighborhood. The offering includes an 11,614 square foot freestanding building situated on 0.43 acres at the signalized intersection of Detroit Avenue and West 58th Street. Strategically located next to Welleon, Cleveland’s newest mixed-use development, the property benefits from significant foot and vehicle traffic. Nearby tenants enhance the appeal of the area and include NUIQ Wellness Lounge & Med Spa, Purefyx Health Bar, Cleveland Bagel Company, Astoria Cafe & Market, Capitol Theatre, Il Rione Pizzeria, and Brewnuts, among others. With Route 2 just moments away, offering over 40,000 vehicles per day, accessibility is a major advantage. The property, located at 5701-5711 Detroit Avenue, is offered for sale at $1,000,000. Originally built in 1906 and renovated in 1952, the two-story building offers 18 surface parking spaces. It spans two parcels, identified as #002-15-010 and #002-15-008. This highly visible and well-positioned site is ideal for a variety of uses and presents strong potential for continued growth alongside one of Cleveland’s most dynamic neighborhoods.

Market Context

This retail in Cleveland, OH is listed for sale at $1,000,000 across 11,614 SF ($86/SF). The building dates to 1952. It has been on the market for 143 days. Compare it against other retail listings for sale in Cleveland, OH — <a href="/search/sale/retail/ohio/cleveland">view the full market</a>.

As of Q1 2026, the Cleveland retail market showed a 4.4% vacancy rate, average asking rents near $16.16/SF/yr, and cap rates around 8.7%. Source: Www.matthews.com Q1 2026 market report.

Tight vacancy keeps competition for quality space elevated.

Retail market FAQ

What is the typical cap rate for retail in Cleveland?
About 8.7% as of Q1 2026, per Www.matthews.com.
Is the Cleveland retail market tightening or softening?
Vacancy is around 4.4% (Q1 2026).

Unified Estimate

Medium Confidence

$33.78/SF – $45.70/SF

Mid: $39.74/SF

Total estimate for 11,614 SF: $461,540

Rate-first confidence-weighted blend with cost-of-business adjustment.

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