1780 E 89th Street
Cleveland, OH 44106

Listed at $250,000

Details

  • MLS# 5176655
  • Commercial - Business
  • Status Active
  • 0 Bedrooms
  • Bathrooms
  • 0 Square Feet
  • 0.341 acres
  • Built in 1920
  • Cleveland Municipal - 1809 Local Schools
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Description

Introducing an exceptional value-add opportunity in Cleveland's emerging Medical Corridor. Walking distance to 2 of Cleveland's Premier Hospitals and University Circle Area. Solid brick, eight-unit building (14,540 sq ft) sits on a double lotand comes fully permit-ready for an approved 16-unit expansion?plans crafted by LDA Architects and variances already inhand. Why Investors Are Taking Notice: Shovel-Ready Upside: City-approved architectural drawings and zoning variancesmean you can break ground almost immediately. Strong Cash-Flow Potential: The stabilized 16-unit project carries arecent appraisal near $3.6 million. Attractive Incentives:...read more Low-interest city loans, extended state historic credits andanticipated federal credits, plus a 15-year tax abatement, all bolster your return. Land Assembly: Includes the neighboring parcel, with the option to secure a third lot for additional parking. Prime Location: Convenient to downtown Cleveland, major highways, and growing retail corridors?ideal for attracting long-term tenants. Dont miss this rare turnkey development play. Detailed financials, full plans, and incentive summaries available upon request. Serious inquiries only?schedule your site tour today.

Features

  • Other
  • $6,390 / year Taxes
  • Public
  • Built in 1920
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All Property Features

  • Property Type: Commercial - Business
  • Basement: Apartment, Full, Unfinished, Walk-Up Access, Walk-Out Access
  • Basement: Yes
  • Building Features: Private Restrooms
  • Days on Site: 93
  • Heating: Other
  • Lot Size: 0.34 Acres
  • Parcel#: 119-05-029
  • Parking: Additional Parking
  • Roof Type: Asphalt
  • Sewer: Public Sewer
  • Taxes: $6,390 / year
  • Water: Public
  • Year Built: 1920