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    8514 Carnegie Ave Cleveland, OH 44106

    Sponsored
    For Sale
    $1,600,000

    Cleveland Clinic Area, 8,750 SF, High Potential

    Property size:
    8,750 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 8,750 square foot retail property, located at 8514 Carnegie Avenue in Cleveland, Ohio, presents a unique redevelopment opportunity. Situated on a 0.61-acre lot, this commercially zoned property boasts prime visibility and accessibility, directly across from the Cleveland Clinic's main campus. The property's strategic location offers unparalleled exposure to the high volume of foot and vehicle traffic associated with the Clinic. This is further enhanced by its proximity to the planned 1 million square foot Neurological Institute, part of the Clinic's billion-dollar investment in its main campus. The asking price is $1,600,000, translating to $182.86 per square foot. This represents a compelling investment prospect given the property's size, location, and the significant ongoing development within the immediate vicinity. The property's existing structure presents a blank canvas for a variety of retail uses, capitalizing on the high-density population and significant economic activity of the Cleveland Clinic complex. This is a rare chance to acquire a substantial property in a rapidly growing and highly desirable area. The 44106 zip code ensures easy access to major transportation routes and amenities. This is an opportunity not to be missed for investors seeking high-return potential in a premier Cleveland location.

    Property Features for 8514 Carnegie Ave

    General Information

    Property type
    Retail properties
    Square Feet
    8,750 SF
    Lot Size
    26,572 SF

    HighLights

    • High‑profile location within the prestigious Cleveland Clinic campus.
    • Excellent visibility and accessibility due to its strategic placement.
    • Modern, high‑quality construction and finishes throughout the building.
    • Strong tenant base with long‑term leases in place, providing stable income.
    • Abundant on‑site parking for tenants and visitors.
    • Proximity to major transportation arteries and public transit.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ben's Auto Body ... Auto Body Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.627579436218
    Latitude
    41.501253045002

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    FAQs

    What type of property is this?
    Retail property - Cleveland Clinic Area, 8,750 SF, High Potential
    Where is this retail property located?
    The property is located at 8514 Carnegie Ave Cleveland, OH.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: High-profile location within the prestigious Cleveland Clinic campus.; Excellent visibility and accessibility due to its strategic placement.; Modern, high-quality construction and finishes throughout the building.
    (330) 940-9360
    Request Owner's contact information
    8514 Carnegie Ave Cleveland, OH 44106
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    Cleveland, OH 44106
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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
    8514 Carnegie Ave Cleveland, OH 44106
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