2197 Murray Hill RoadCleveland, OH 44106

2197 Murray Hill RoadCleveland, OH 44106

1/48 Virtual Tour Fullscreen
$2,700,000 Active
Commercial - Business MLS 5206931

Listed By

Agency Name: Century 21 DeAnna Realty
Agency Phone: 440-731-8070

Shown By

Agency Title: Cutler Real Estate
Agency Phone: 888-763-7575

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Property Description

Positioned in the heart of Cleveland's historic and vibrant Little Italy on Murray Hill. This exceptional investment opportunity features a rare four-property portfolio totaling 14 residential units with 28 bedrooms, along with an operational pizza shop equipped with outdoor dining space, and a unique art gallery space, with half bath. The property is supported by 20 parking spaces, an invaluable amenity in this neighborhood. The portfolio is composed of: a mixed-use building featuring the pizza shop with five 2-bedroom residential units above; an art gallery with three 2-bedroom units; a four-unit multifamily (quadraplex); and a separate duplex. This diverse unit mix provides multiple income streams and long-term upside. Located just steps from University Circle, University Hospitals, Case Western Reserve, the property benefits from strong rental demand driven by proximity to major employment hubs, cultural institutions, and the heart of Little Italy's renowned dining and arts scene. Whether you're seeking a stabilized, income-producing asset or a value-add/development opportunity in one of Cleveland's most desirable neighborhoods, this is a rare chance to own a cornerstone portfolio in Little Italy.

2197 Murray Hill Road | MLS# 5206931

This commercial property located at 2197 Murray Hill Road, Cleveland, OH 44106 is currently listed for sale with an asking price of $2,700,000. Murray Hill Road is located within the Cleveland Municipal - 1809 school district. Search Cleveland real estate on 1009fairoaksavenuesw.cutlerhomes.com today.

Property Features

Property Type: Commercial - Business
Basement: Yes
Days on Market: 1
Heating: Hot Water, Steam
Lot Size: 0.34 Acres
Roof Type: Asphalt, Fiberglass, Flat
Taxes: $60,018 / year
Year Built: 1921

Feature Descriptions

Parcel#: 121-07-006
Parking: Detached, Garage, Parking Lot
Sewer: Public Sewer
Units: 14
Water: Public

Local Schools

School District: Cleveland Municipal - 1809

Demographics

Cuyahoga County Demographic Information for 2197 Murray Hill Road, Cleveland, OH 44106
Fips
Fips Code 39035
Population
2020 to 2025 Change down 2.5%
2010 Count 1,280,122
2020 Count 1,264,817
2025 Estimate (V2025) 1,232,925
2020 Estimate (V2025) 1,264,775
Age Distribution (Years Old)
0 to 4 5.2%
5 to 17 20.1%
18 to 64 54.2%
65 and Older 20.5%
Gender
Male 48.0%
Female 52.0%
Place of Birth
Foreign 7.7%
US 92.3%
Education
High School Graduate, Age 25+ 91.5%
Bachelor's Degree or Higher, Age 25+ 36.5%
Computer and Internet use
Households with a computer 94.0%
Households with a broadband Internet subscription 89.5%
Language
English is Second Language, Age 5+ 12.3%
English is First Language, Age 5+ 87.7%
Veterans
Veterans 54,264
Income
Per Capita Income $42,747
Median Household Income $64,468
People in Poverty 14.9%
Commute
Average Work Commute Time 24 minutes
Housing
Total Housing Units 615,116
Households 554,551
Average Household Size 2.20
Owner-Occupied 59.4%
Multi-Family 34.9%
Owner-Occupied Median Value $195,400
Median selected monthly owner costs -with a mortgage $1,570
Median selected monthly owner costs -without a mortgage $671
Median gross rent $1,060
Building Permits
New Private Housing Issued 2024 1,685
Years at Residence
1 Year or More 86.7%
Less Than 1 Year 13.3%
Business and Employment
Private non-farm Establishments 31,496
Private non-farm Employment 681,543
Private non-farm Employment Growth up 0.7%
Nonemployer Establishments 110,977
Number of Firms 23,160
Business Production
Value of Shipments $23,225,392,000
Wholesale Trade $24,854,217,000
Retail Trade $16,920,714,000
Retail Sales Per Capita $11,914
Accommodation and Food Services $3,332,698,000
Land
Land Area 457.19 sq. miles
Population Per Square Mile 2,800

Source: US Census Bureau