Property profile

21500 Saint Clair Ave Euclid, OH 44117

OFF-MARKET
Warehouses
Property ID
US66-0095563
52,278 SF 3.07 ac lot Built 1918
Entity Owned 8-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional Euclid, OH industrial property presents a unique redevelopment opportunity. The single-story building boasts a substantial 52,278 square feet of space situated on a generous 3.06-acre lot. Previously used for industrial purposes, the building has been completely gutted, providing a blank canvas for a new industrial project. Extensive groundwork for redevelopment has already been completed. A comprehensive asbestos survey has been conducted, and abatement cost estimates are available to the buyer. These quotes will be provided as part of the sale, allowing the buyer to work directly with the vendors involved. Importantly, restrictive covenants are in place, limiting future use to industrial purposes only. To ensure transparency and facilitate a smooth transaction, the seller has included Ohio EPA Closure Reports and a property survey in the supplementary documentation. This property offers significant potential for an investor or developer seeking a large-scale industrial project in a prime Euclid location. The existing groundwork and readily available documentation streamline the redevelopment process, minimizing potential delays and uncertainties. The substantial size of the building and lot provides ample space for a variety of industrial applications. This is a rare opportunity to acquire a well-positioned industrial property with a clear path to redevelopment.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1918
Total area 52,278 SF
Lot 3.07 ac (133,572 SF)
Zoning code U6
APN 646-10-005
UPID US66-0095563

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

21500 Saint Clair Ave Euclid, OH 44117-1025
Euclid metro Census 152502 CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$655k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.30M
Blend (final) Blend
$960k

Owner & transaction history

since 2017
2 recorded transactions
2017
$29,000
2003
$424,000

Zoning & alternative use

U6 · Euclid, OH
Zoning description

1359.05 SUPPLEMENTAL REGULATIONS FOR ALL USES. 1359.06 REGULATIONS FOR SPECIFIC USES. 1359.07 HEIGHT REQUIREMENTS. 1359.08 LOT AREA AND SETBACK REQUIREMENTS. CHAPTER 1360 U5 Commercial Districts (Repealed) CHAPTER 1361 U…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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