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11815-11837 Lorain Ave Cleveland, OH 44111

For Sale
$850,000

Iconic theater primed for mixed-use redevelopment in Cleveland.

Property size:
17,781 SF
Lot size:
1.41 Acres

Property Features for 11815-11837 Lorain Ave

General Information

Size
17,781 SF
Lot size
1.41 Acres

Source: Cresco Real Estate | Cleveland Agent Eliot Kijewski, SIOR

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Historic Theater Redevelopment Opportunity

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.
Location Intelligence

Current Use by Public Records

Theaters & concert halls

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Cleveland
County
Cuyahoga
State
Ohio
Longitude
-81.7700468
Latitude
41.4613222

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.
More about this property
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