Cleveland Clinic Flex Space For
For Sale
$599,000
8117 Carnegie Avenue, Cleveland, OH 44102
Retail/warehouse flex space near Cleveland Clinic main campus.
Property Size9,537 SF
Price / SF$62.81
Days on Market208
Property Features for 8117 Carnegie Avenue
General Information
Standard status
Active
Size
9,537 SF
Property subtype
10/15/2026
Building Details
Building Size
9,537 SF
Year Built
2026
Listing Agency:
Cushman & Wakefield | CRESCO Real Estate
Listed By:
Eliot Kijewski · License #SAL.2003003809
(216) 525-1487
Source:
Cushmanwakefield
Added: Mar 26
Changed: Oct 16
Last Checked: Oct 19 at 4:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield | CRESCO Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This high-profile building on Carnegie Avenue is available for sale for the first time, having been occupied by the seller for over 30 years. The property offers an opportunity to own retail and warehouse flex space near the Cleveland Clinic Main Campus, which is currently experiencing rapid growth with over 1 million square feet under construction on Carnegie Avenue. The property is located on the corner of 82nd and Carnegie, directly across the street from Vienna Distributing. The property has a size of 9537 square feet.
Key Highlights
- Steps away from Cleveland Clinic Main Campus, offering high visibility.
- Located on Carnegie Avenue, an area experiencing rapid growth with over 1 million square feet under construction.
- Retail / warehouse flex space provides versatile usage options.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,444
Cap Rate
8.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,048,880
$1.0M
Cap Rate 7%
$749,200
$749.2K
Cap Rate 9%
$582,711
$582.7K
Market Conditions
NOI Build-Up for 9,537 SF
Gross rent
$85.8K $9.00/SF
− Vacancy
−$5.1K −$0.54/SF
EGI
$80.7K $8.46/SF
− OpEx
−$28.2K −$2.96/SF
NOI
$52.4K $5.50/SF
Area
Cleveland, OH
Vacancy
6.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,048,880
Cap Rate 7%
$749,200
Cap Rate 9%
$582,711
Alternative Uses
Best Use
Flex RnD
$749.2K
$655.6K – $874.1K
NOI $52,444 @ 7.0% cap · market cap 8.76%
Second Best
Industrial
$559.7K
$489.8K – $653.0K
NOI $39,181 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $162,913 @ 7.0% cap · market cap 27.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,978
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44102, OH
43,347
Population
22,984
Households
1.9
Avg Household Size
35
Median Age
25%
College-Educated
80%
High-School Grad
6.1 sq mi
ZIP Area
7,106
Density / Sq Mi
$40,303
Median Household Income
$34,958
Median Earnings
$911
Median Rent
$99,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Cleveland, OH
Frequently Asked Questions
What type of property is this?
Flex space - Retail/warehouse flex space near Cleveland Clinic main campus.
Where is this flex space located?
The property is located at 8117 Carnegie Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Steps away from Cleveland Clinic Main Campus, offering high visibility.; Located on Carnegie Avenue, an area experiencing rapid growth with over 1 million square feet under construction.; Retail / warehouse flex space provides versatile usage options.
