11815-11837 Lorain Ave Cleveland, OH

Listing office Cresco Real Estate | Cleveland i***@crescorealestate.com Show Phone

Listing date Jul 24, 2025

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Investment Insights

Based on property information with market context.

The former Variety Theatre, situated at 11815 Lorain Avenue on Cleveland's near-Westside, offers a redevelopment opportunity. The property, with its architecture and history, is suited for repositioning. Given the increasing demand for residential and entertainment spaces in Northeast Ohio, converting the theater into a venue for concerts, events, weddings, and general entertainment could address a need in the mid-market sector. The property's historic landmark status is a key advantage, along with the approval of a federal historic tax credit (HTC) award of $1.6 million, a state HTC award of $1.4 million, and the availability of completed architectural plans. These factors may save time and resources during the development process. Redeveloping the Variety Theatre into an entertainment venue represents an investment opportunity to restore a historic landmark while meeting community needs. This project has the potential to enrich Cleveland’s cultural landscape, generate returns, and preserve the legacy of an institution. The property size is 17781 square feet.

Key Highlights

• Approved federal and state historic tax credits totaling $3 million significantly reduce redevelopment costs.
• Completed architectural plans are available, saving time and resources.
• The property is a historic landmark, offering unique architectural character and appeal.

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FAQs

What type of property is this?

Theater & concert hall - Iconic theater primed for mixed-use redevelopment in Cleveland.

Where is this theater & concert hall located?

The property is located at 11815-11837 Lorain Ave Cleveland, OH.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: Approved federal and state historic tax credits totaling $3 million significantly reduce redevelopment costs.; Completed architectural plans are available, saving time and resources.; The property is a historic landmark, offering unique architectural character and appeal.