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$950,000
Est. payment /mo
0.99 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Caleb & Mary D Morgans
MLS Listing ID 5166853
HOA Y/N No
Year Built 1915
Annual Tax Amount $10,879
Tax Year 2024
Lot Size 0.991 Acres
Acres 0.991
Property Sub-Type Mixed Use
Property Description
Rare one-acre redevelopment opportunity in Cleveland's urban core! This unique offering combines six site-assembled parcels totaling approximately 1.01 acres (.86 + .15), zoned Local Retail Business (LR-C2). Perfectly positioned adjacent to NRP Group's brand-new 5115 The Rising community, featuring 88 affordable apartment and townhome units. Enjoy excellent access and visibility with close proximity to I-77, I-490, and direct connection to the $350M Opportunity Corridor, offering seamless access to Downtown Cleveland and just 10 minutes to the Cleveland Clinic and University Circle. Two buildings—5311 Magnet and 5243 Broadway—are currently occupied with an attached rent roll, providing immediate income potential while planning redevelopment. A truly rare chance to invest in Cleveland's next wave of urban revitalization!
Location
State OH
County Cuyahoga
Interior
Heating Hot Water, Steam
Fireplace No
Exterior
Water Access Desc Public
Present Use Multi-Family,Residential,Single Family
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 123-23-026
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
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Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com, 216-870-8687