Flex Redevelopment Corner
For Sale
Contact for pricing
8117 Carnegie Ave, Cleveland, OH 44103
This corner flex/industrial property offers interior flexibility and strong visibility near Cleveland’s major healthcare campuses.
Property Size9,537 SF
Price / SF$62.81
Days on Market52
Property Features for 8117 Carnegie Ave
General Information
Standard status
Active
Size
9,537 SF
Property subtype
FLEX_R_AND_D
Additional Details
Opportunity Zone
Yes
Traffic Count
24,000 vehicles/day
Listing Agency:
Cresco Real Estate | Cleveland
(216) 525-1487
Listed By:
Eliot Kijewski, SIOR
Source:
Moodyscre
Added: Jun 10
Changed: Jul 26
Last Checked: Jul 26 at 12:00AM
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 Cresco Real Estate | Cleveland
Investment Insights
Based on property information with market context.
This flex/industrial property offers floor plan flexibility, including the ability to take down interior walls to open up the space. The asset is positioned on a corner lot, supporting strong street-facing presence.
The property is located on the corner of Carnegie Avenue and East 82nd Street, and is described as being just blocks from Cleveland Clinic Main Campus and University Hospitals Main Campus. The listing also notes it is in an opportunity zone and that the area is served by nearby restaurants, services, and workforce amenities.
With its flexible interior layout and corner visibility, the property may support a range of redevelopment plans, subject to applicable approvals and requirements.
The property is located on the corner of Carnegie Avenue and East 82nd Street, and is described as being just blocks from Cleveland Clinic Main Campus and University Hospitals Main Campus. The listing also notes it is in an opportunity zone and that the area is served by nearby restaurants, services, and workforce amenities.
With its flexible interior layout and corner visibility, the property may support a range of redevelopment plans, subject to applicable approvals and requirements.
Key Highlights
- Corner flex/industrial property with strong visibility on Carnegie Avenue & E 82nd St
- Located just blocks from Cleveland Clinic Main Campus and University Hospitals Main Campus
- Opportunity zone corner location between Midtown and University Circle
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.8k | $9.00 |
| − Vacancy | −$5.1k | −$0.54 |
| EGI | $80.7k | $8.46 |
| − OpEx | −$28.2k | −$2.96 |
| NOI | $52.4k | $5.50 |
9,537 SF · lease $9.00/SF/yr · vacancy 6.00% · expense 35.00%
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.
Property Analytics
Current Use
Lease Details
24,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
950
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44103, OH
14,469
Population
9,479
Households
1.5
Avg Household Size
43
Median Age
12%
College-Educated
78%
High-School Grad
4.1 sq mi
ZIP Area
3,529
Density / Sq Mi
$24,219
Median Household Income
$27,495
Median Earnings
$720
Median Rent
$57,600
Median Home Value
Market
Vacancy Rate% for Industrial in Cleveland, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - This corner flex/industrial property offers interior flexibility and strong visibility near Cleveland’s major healthcare campuses.
Where is this flex space located?
The property is located at 8117 Carnegie Ave 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: Corner flex/industrial property with strong visibility on Carnegie Avenue & E 82nd St; Located just blocks from Cleveland Clinic Main Campus and University Hospitals Main Campus; Opportunity zone corner location between Midtown and University Circle
