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    1944 71St St Cleveland, OH 44103

    For Sale
    $450,000

    0.842 Acres, MMUD-2 Zoning

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 0.842-acre land parcel, located at 1944 E 71st Street in Cleveland, Ohio, presents a compelling development opportunity. Situated in the Midtown mixed-use district (MMUD-2 zoning), this property includes eight separate parcels (APN: 11808058, 11808063, 11808062, 11808001, 11808005, 11808078, 11808077, 11808080, 11808079) and is ideally positioned at the corner of Chester Avenue and E 71st Street. The asking price is $450,000. Currently featuring a 2,763 square foot residential home, the property offers significant potential for multifamily conversion or redevelopment. The existing structure provides immediate income potential while allowing for future development plans. Furthermore, an additional approximately 0.46 acres of adjacent development land is available at the corner of Chester Avenue between E 72nd Place and E 73rd Street, presenting an opportunity to expand the project scope. This prime location in Cleveland's thriving Midtown offers excellent access to amenities, transportation, and a growing residential and commercial market. This property is perfect for investors and developers seeking a high-potential project in a desirable urban setting. The zip code is 44103.

    Property Features for 1944 71St St

    General Information

    Property type
    Land
    Lot Size
    36,678 SF
    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
    -81.63984
    Latitude
    41.5056464

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    FAQs

    What type of property is this?
    Land - 0.842 Acres, MMUD-2 Zoning
    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.
    (330) 940-9360
    Request Owner's contact information
    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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