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    8009 Carnegie Ave Cleveland, OH 44103

    For Sale
    $599,000

    0.15-acre lot, high-growth area.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 0.15-acre commercial land parcel presents a unique development opportunity in Cleveland, Ohio. Located at 8009 Carnegie Avenue, this prime corner lot boasts 133.5 feet of frontage on Carnegie Avenue and sits directly across from a newly constructed Dunkin' Donuts and near a Bank of America branch. Its strategic location offers unparalleled proximity to the Cleveland Clinic campus, placing it within a thriving and expanding medical hub. The property is zoned for commercial use, providing flexibility for a variety of development projects. Furthermore, the potential exists to significantly expand the property size. Adjacent to the site are four additional contiguous lots owned by the City of Cleveland Land Bank, totaling over 0.65 acres when combined with this offering. This presents a rare chance to acquire a substantially larger parcel with increased frontage and development potential. A detailed Carnegie Master Plan & Transportation Study, available online via a provided link from Midtown Inc., further highlights the area's growth trajectory and strategic importance. This property is ideal for investors seeking high-impact development opportunities in a rapidly developing area of Cleveland. The property's location, size, and zoning make it an exceptional investment with significant long-term potential.

    Property Features for 8009 Carnegie Ave

    General Information

    Property type
    Land
    Lot Size
    6,534 SF

    HighLights

    • 0.65‑acre development potential.
    • 133.5 feet of street frontage.
    • Adjacent to Cleveland Clinic campus.
    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
    -81.632427
    Latitude
    41.501599

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    FAQs

    What type of property is this?
    Land - 0.15-acre lot, high-growth area.
    Where is this land located?
    The property is located at 8009 Carnegie Ave Cleveland, OH.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: 0.65-acre development potential.; 133.5 feet of street frontage.; Adjacent to Cleveland Clinic campus.
    (330) 940-9360
    Request Owner's contact information
    8009 Carnegie Ave 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
    8009 Carnegie Ave Cleveland, OH 44103
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