Cleveland Clinic Flex Space For
8117 Carnegie Ave Cleveland, OH 44103
8117 Carnegie Ave, Cleveland, OH, 44103
Contact for pricing
For Sale
Contact for pricing
Pending
Retail/warehouse flex space near Cleveland Clinic main campus.
Property Size9,537 SF
Days on Market621
Property Features for 8117 Carnegie Ave
General Information
- Standard status
- Pending
- Size
- 9,537 SF
- Property subtype
- Industrial
Listing agency
Hoff & Leigh Fairlawn
(330) 940-9360
Listed by
Joe Zumpano · License #OH SAL.2015004596
Source
Crexi
Added: Nov 7, 2024 Updated: Jul 6 at 8:07AM Checked: Jul 21 at 7:06AM
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 Hoff & Leigh Fairlawn
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.
Local 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
Retail
$1.31M
$1.15M – $1.53M
NOI $91,627 @ 7.0% cap · market cap 13.18%
Second Best
Flex RnD
$749.2K
$655.6K – $874.1K
NOI $52,444 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $162,913 @ 7.0% cap · market cap 23.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
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 Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $695,000.
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.
