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    8009 Carnegie Ave Cleveland, OH 44103

    For Sale
    $599,000

    0.15-acre development opportunity near Cleveland Clinic

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 0.15-acre lot, located at 8009 Carnegie Avenue in Cleveland, Ohio (zip code 44103, APN 11914019), presents a rare development opportunity. Situated on a prime corner at the intersection of Carnegie Avenue and E 81st Street, this property boasts high visibility and excellent access. The lot is directly across from a newly constructed Dunkin' Donuts and near a new Bank of America branch, indicating a thriving commercial area. Its strategic location is further enhanced by its adjacency to the Cleveland Clinic, a major medical center. This presents significant potential for various commercial developments. A key advantage is the availability of four contiguous City of Cleveland Land Bank lots adjacent to this property. Acquiring these additional lots would significantly increase the overall land area to over half an acre, providing approximately 133.5 feet of frontage on Carnegie Avenue. This expanded footprint offers substantial development flexibility. The property is zoned GR-D3. A detailed Carnegie Master Plan & Transportation Study, available online, further highlights the area's development potential and strategic location. This is an exceptional opportunity to acquire a highly desirable commercial lot in a rapidly developing area of Cleveland.

    Property Features for 8009 Carnegie Ave

    General Information

    Property type
    Land
    Lot Size
    6,534 SF

    HighLights

    • $599,000 asking price.
    • 0.15‑acre land parcel.
    • GR‑D3 zoning.
    • Located at 8009 Carnegie Avenue, Cleveland, OH 44103.
    • Prime corner lot at Carnegie & E 81st Street, near Cleveland Clinic.
    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
    -81.6324209
    Latitude
    41.5015969

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    FAQs

    What type of property is this?
    Land - 0.15-acre development opportunity near Cleveland Clinic
    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: $599,000 asking price.; 0.15-acre land parcel.; GR-D3 zoning.
    (330) 940-9360
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    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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