55 Erieview Plz Cleveland, OH 44114

Property Details for 55 Erieview Plz

Year built

1971

Construction

CONCRETE

Lot size

0.28 lot acres

Property size

88,023 SF

Zone code

SI

Property type

Office buildings

APN

101-34-051

APU

10134051

Description

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.

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Longitude

-81.6898

Latitude

41.5055

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments