Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    55 Erieview Plz Cleveland, OH 44114

    Sponsored
    For Sale
    $1,900,000

    Downtown Cleveland conversion project, high potential.

    Property size:
    80,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 80,500 square foot property at 55 Erieview Plaza in Cleveland, Ohio, presents a unique redevelopment opportunity. The seven-story, Class C building, constructed in 1971, is currently vacant and offers a blank canvas for a transformative project. With floor plates of 11,500 square feet and an additional 10,000 square foot lower level, the possibilities are vast. Consider conversion into a stylish apartment complex, a much-needed parking garage, or a mixed-use development. The asking price is $1,900,000, translating to a competitive price per square foot of $23.60. This prime downtown location within Cuyahoga County (zip code 44114) is surrounded by ongoing residential and retail development, including 368 new apartment units currently under construction nearby. The strategic location near key amenities, businesses, and a substantial employee population ensures strong potential for future occupancy and rental income. This investment opportunity is further enhanced by automatic eligibility for Federal Tax Credits, with the possibility of additional State Tax Credits. This is a value-add investment in a bustling market poised for significant growth. The property's mixed-use zoning allows for flexibility in development plans, catering to a variety of potential uses. This is a rare chance to acquire a substantial property in a rapidly evolving urban core.

    Property Features for 55 Erieview Plz

    General Information

    Property type
    Automotive properties
    Square Feet
    80,500 SF
    Class
    C

    Building Details

    Year Built
    1971
    Buildings
    1
    Stories
    7

    HighLights

    • 80,500 SF vacant Class C building in downtown Cleveland, OH.
    • Seven‑story building with 11,500 SF floor plates and a 10,000 SF lower level.
    • Asking price: $1,900,000 ($23.60/SF).
    • Prime downtown location in Cuyahoga County (44114), near new residential and retail development.
    • Mixed‑use zoning allows for flexible redevelopment (apartments, parking, mixed‑use).
    • Eligible for Federal Tax Credits, with potential for State Tax Credits.
    Property Profile Location Intelligence

    Current Use by Public Records

    Acumen Property Management Property Management Company New Erieview Rehabilitation ... Rehabilitation Center Bj J Showman Dentist Gsource Technologies LLC Drafting Service Dr. Bj Showman Dentist

    Suggested Use

    Realty agency Spa & Massage Restaurant Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy 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
    -81.689604521601
    Latitude
    41.505355063244

    Nearby Similar for Sale

    • $480,000
      0.08 Acres

      Portfolio of Four Cleveland Properties

      Four properties with income potential in Cleveland and Lorain, Ohio.
      6306 Flowerdale Ave, Cleveland, OH 44144
      View Details
    • New
      $480,000
      0.08 Acres

      Updated Multifamily Portfolio Opportunity

      Four-property portfolio with income potential and recent updates.
      6306 Flowerdale Ave, Cleveland, OH 44144
      View Details
    • New
      $148,500
      2,736 SF

      Renovated Tenant-Occupied Cleveland Triplex

      Fully renovated triplex with tenants, generating $2085 monthly gross rent.
      12322 Fairport Ave, Cleveland, OH 44118
      View Details
    • New
      $148,500
      2,736 SF

      Renovated Triplex in Cleveland, OH

      Fully renovated, tenant-occupied triplex near downtown Cleveland.
      12322 Fairport Ave, Cleveland, OH 44118
      View Details
    • $375,000
      2,884 SF

      Renovated Duplex on Tree-Lined Boulevard

      Renovated duplex with separate basements and fenced backyard.
      11002 Parkhurst Dr, Cleveland, OH 44111
      View Details
    • $429,900
      0.11 Acres

      Renovated Cleveland Four-Unit Property

      Fully renovated four-unit property in Cleveland with strong rental demand.
      10226 Kempton Ave, Cleveland, OH 44108
      View Details
    • $210,000
      4,064 SF

      Cleveland Duplex: Investor Opportunity

      Spacious duplex in investor-friendly neighborhood with income potential.
      3847 W 38Th St, Cleveland, OH 44109
      View Details
    • $145,000
      4,376 SF

      Spacious Duplex in Union-Miles Park

      Two-unit property with recent updates and strong rental potential.
      3799 E 114Th St, Cleveland, OH 44105
      View Details
    • $248,999
      2,944 SF

      Renovated Multifamily Home Near Luke Easter Park

      Spacious, renovated multifamily home near Luke Easter Park in Cleveland.
      3200 Audubon Blvd, Cleveland, OH 44104
      View Details
    • New
      $210,000
      4,064 SF

      Cleveland Duplex: Investor Opportunity

      Spacious duplex in desirable Cleveland neighborhood with income potential.
      3847 W 38Th St, Cleveland, OH 44109
      View Details
    • New
      $274,900
      3,382 SF

      Renovated Multifamily Investment Opportunity

      Turnkey multifamily property with strong income potential in Cleveland, OH.
      3429 Martin Luther King Jr Dr, Cleveland, OH 44104
      View Details
    • $224,000
      4,090 SF

      Renovated Multifamily Property in Cleveland

      Fully renovated multifamily property with high rental income potential.
      10136 North Blvd, Cleveland, OH 44108
      View Details

    FAQs

    What type of property is this?
    Automotive property - Downtown Cleveland conversion project, high potential.
    Where is this automotive property located?
    The property is located at 55 Erieview Plz Cleveland, OH.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: 80,500 SF vacant Class C building in downtown Cleveland, OH.; Seven-story building with 11,500 SF floor plates and a 10,000 SF lower level.; Asking price: $1,900,000 ($23.60/SF).
    Request Owner's contact information
    55 Erieview Plz Cleveland, OH 44114
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    55 Erieview Plz
    Cleveland, OH 44114
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    55 Erieview Plz Cleveland, OH 44114
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.