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    1944 71St St Cleveland, OH 44103

    For Sale
    $450,000

    0.36-acre commercial lot, Midtown location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 0.36-acre commercial land parcel, located at 1944 E 71st Street in Cleveland, Ohio, presents a compelling development opportunity. Situated in the Midtown Mixed-use District, this property boasts 130 feet of frontage on Chester Avenue, offering significant visibility and accessibility. The site is zoned 1F-A / MMUD-2, allowing for a variety of potential uses. Currently, a 2,763 square foot residential home sits on the property, presenting the possibility of multifamily conversion. This hard corner site is further enhanced by its location within an Opportunity Zone and the burgeoning Health-Tech Corridor. The property consists of three parcels and is conveniently located in Cuyahoga County, Ohio, with the zip code 44103. Additionally, there is potential for expansion with approximately 0.46 acres of adjacent development land available at the corner of Chester Avenue between E 72nd Place and E 73rd Street. This presents a unique chance to acquire a strategically positioned property with significant upside potential in a rapidly developing area of Cleveland. The asking price for this remarkable opportunity is $450,000.

    Property Features for 1944 71St St

    General Information

    Property type
    Land
    Lot Size
    15,682 SF

    HighLights

    • Midtown Cleveland location.
    • 130 feet of frontage on Chester Avenue.
    • Opportunity Zone designation.
    • Situated in the Health‑Tech Corridor.
    • Hard corner lot.
    • Existing 2,763 sq ft residential home with multifamily conversion potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6398517
    Latitude
    41.505723

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    FAQs

    What type of property is this?
    Land - 0.36-acre commercial lot, Midtown location.
    Where is this land located?
    The property is located at 1944 71St St Cleveland, OH.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Midtown Cleveland location.; 130 feet of frontage on Chester Avenue.; Opportunity Zone designation.
    (330) 940-9360
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    1944 71St St Cleveland, OH 44103
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    Cleveland, OH 44103
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1944 71St St Cleveland, OH 44103
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