Mixed-use Value-Add Opportunity on Mound Rd

Investment Overview

Located along the highly traveled Mound Road corridor, 31825 & 31851 Mound Road presents a versatile mixed-use investment opportunity combining retail, office, and multifamily uses within the Warren Village Historic District. Zoned C-1 Commercial, the property offers multiple income streams along with significant value-add potential through lease-up and residential improvements. 31825 Mound Road features two ground-floor commercial spaces and four second-floor apartment units. The retail component includes an operating hair and nail salon and a former bakery space, which is currently being considered by an independent quick-service restaurant operator for an initial six-month lease term. The second floor includes four approximately 800 SF apartments consisting of two one-bedroom and two two-bedroom units. Two units are currently occupied on a month-to-month basis, while the remaining units offer an opportunity for renovation and lease-up. Strategic updates to cabinetry, flooring, paint, and finishes could further enhance the residential component and support increased occupancy and rental income. 31851 Mound Road is a single-story office building divided into two suites. The approximately 2,100 SF southern suite is currently occupied by a counseling practice on a month-to-month basis, while the remaining 930 SF suite is vacant and available for lease or owner occupancy. With a diverse tenant mix, flexible lease structure, available space, and opportunities to increase occupancy and improve the residential units, the property offers investors or owner-users multiple avenues to enhance income and long-term value.

Investment Highlights

• Mixed-use investment opportunity featuring retail, office and multifamily components
• Two-building property located along the high-traffic Mound Road corridor
• Located within the Warren Village Historic District
• Multiple existing income streams with additional lease-up and value-add potential
• 31825 Mound: Two ground-floor commercial spaces plus four ±800 SF apartments
• 31851 Mound: Two-suite, single-story office building
• Flexible month-to-month tenancy provides a new owner with future repositioning flexibility
• Opportunity to increase NOI through lease-up, renovations and tenant stabilization
• C-1 Commercial zoning
• Approximately 25 on-site surface parking spaces