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    Opportunity Corridor Cleveland, OH 44127

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    Opportunity Corridor Cleveland, OH 44127

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    • Retail properties & Spaces
    • 250,000 SF
    • 15.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Opportunity Corridor

    Lot size
    15.00 lot acres
    Property size
    250,000 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional 13-15 acre parcel presents a rare opportunity for development along Cleveland's vibrant Opportunity Corridor. Zoned for retail use, this single-tenant site boasts a substantial 250,000 square feet of buildable area, offering significant potential for a large-scale commercial project. Located in Cuyahoga County, Ohio, with a convenient zip code of 44127, the property's strategic location promises high visibility and accessibility. The land is entirely vacant, providing a blank canvas for a custom-designed development. This construction-ready site is uniquely positioned as the only available land of its kind along the Opportunity Corridor, making it an unparalleled investment opportunity. The property's size and location offer exceptional potential for a variety of retail uses, catering to the growing needs of the surrounding community. With its prime location and substantial buildable area, this property represents a significant opportunity for developers seeking a high-impact retail development in a rapidly developing area of Cleveland. All utilities are available, making this a truly turn-key opportunity. Detailed site plans and zoning information are available upon request. Don't miss this chance to secure a premier location along the Opportunity Corridor.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6402
    Latitude
    41.4833

    Comparable in this City

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      0.24 Acres

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      29,196 SF

      5462 Broadway Ave

      Individual retail properties • 29,196 SF
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      3225 49Th St

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      3225 49Th St, Cleveland, OH 44127
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      13.36 Acres

      5703 Hamlet Ave

      Land • 13.36 Acres
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      4950 Broadway Ave

      Land
      4950 Broadway Ave, Cleveland, OH 44127
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      0.12 Acres

      7035 Morgan Ave

      RESIDENTIAL PARKING GARAGE • 0.12 Acres
      7035 Morgan Ave, Cleveland, OH 44127-1926
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    Similar Nearby for Sale

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      Land For Sale

      13.36 acres of land available.
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    • $165,000
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      Industrial Asset in Cleveland Core

      Two-story facility with warehouse and office space on 1.02-acre lot.
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      Turnkey Bar/Restaurant Opportunity in Cleveland

      Bar/Restaurant with real estate, event space, and commercial kitchen.
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      25,711 SF

      Industrial Warehouse with Outdoor Storage

      25,712 SF industrial warehouse with secure outdoor storage.
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    • $300,000
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      Cleveland Commercial Lots For Sale

      Six vacant lots in Cleveland's revitalizing Slavic Village.
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    • $79,900
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      Two Homes, One Cleveland Lot

      Investment opportunity: two homes on one lot near Downtown.
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    Similar Nearby for Lease

    • $4,500 /Mo
      17,224 SF

      Turn-Key Restaurant Opportunity in Cleveland

      City-approved restaurant space with fully equipped commercial kitchen.
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    • Contact for pricing

      Industrial Land with Warehouse

      Industrial land with warehouse near Opportunity Corridor and major interstates.
      3018 E 55Th St, Cleveland, OH 44127
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    • Contact for pricing

      Industrial Build-to-Suit Opportunity

      13 acres for industrial build-to-suit near Opportunity Corridor.
      E 55Th St, Cuyahoga Heights, OH 44127
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    • Contact for pricing

      Industrial Land for Lease

      Industrial land available for single tenant lease.
      Opportunity Corridor, Cleveland, OH 44127
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    • Contact for pricing
      250,000 SF

      Industrial Build-to-Suit Opportunity

      15 acres for a 250,000 SF industrial facility.
      5305 Sweeney Ave, Cleveland, OH 44127
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    • Contact for pricing
      990 SF

      Retail Space Available For Rent

      Energy-efficient retail space available, approximately 990 square feet.
      3210-3230 W 65Th St, Cleveland, OH 44127
      View Details
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    Cleveland, OH 44127
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    Opportunity Corridor, Cleveland, OH, 44127

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