Property profile

8117 Carnegie Ave Cleveland, OH 44103

FOR SALE
Retail space
Property ID
US66-2718903
2,574 SF 0.21 ac lot Built 1920
Individually Owned 23-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 9,537 square foot flex space property at 8117 Carnegie Avenue in Cleveland, Ohio, presents a unique investment opportunity. Located in Cuyahoga County, zip code 44103, this high-profile building boasts a prime corner lot position at the intersection of 82nd Street and Carnegie Avenue, offering excellent visibility and accessibility. The property has been owned and occupied by the same seller for over 30 years, representing a rare chance to acquire a well-established asset. The building features a full usable basement, adding significant square footage to the overall usable area. Ample parking is available on-site. The strategic location directly across from Vienna Distributing and steps away from the Cleveland Clinic's main campus, an area experiencing rapid growth with over one million square feet of new construction underway on Carnegie Avenue, makes this property exceptionally attractive for a variety of uses. The existing structure offers potential for redevelopment or repurposing to suit a wide range of business needs. Furthermore, there's potential to expand the existing parking lot, enhancing the property's functionality and appeal. This is a rare opportunity to acquire a well-situated, versatile commercial property in a thriving Cleveland neighborhood. The asking price is $695,000.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1920
Construction TYPE NOT SPECIFIED
Total area 2,574 SF
Lot 0.21 ac (9,100 SF)
Zoning code GR
APN 119-14-045
UPID US66-2718903

Cap rate & NOI

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

Location

8117 Carnegie Ave Cleveland, OH 44103
Cleveland metro Census 197200 CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$200k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$270k

Owner & transaction history

since 2003
1 recorded transaction
2003
Price N/A

Zoning & alternative use

GR · Cleveland, OH
Zoning description

Zoning District: GR-C2 Current Use: Vacant T otal Structure Sqft: 3772.5 SITE DATA TABLE 100’ 90’ 30’ 20’ 8’ 5’ 45’ 50’ 69’ 60’ 5’ 7’6”75’ 8’ 86’7’6” 20’ 7’6” 52’6”’ 20’ 10’ 15’ 9’17’ 9’17’ 9’17’ 9’17’ 24’ 30’ 40’ 48’ 12…

General category COMMERCIAL

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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