14
See all 14 photos
$350,000
Est. payment /mo
0.34 Acres Lot
New
1780 E 89th ST Cleveland, OH 44106
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Subdivision James W Stewarts Sub
MLS Listing ID 5156748
HOA Y/N No
Year Built 1920
Annual Tax Amount $6,391
Tax Year 2024
Lot Size 0.341 Acres
Acres 0.3407
Property Sub-Type Other
Property Description
Introducing an exceptional value-add opportunity in Cleveland's emerging E. 89th Street 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 lot and comes fully permit-ready for an approved 16-unit expansion—plans crafted by LDA Architects and variances already in hand.
Why Investors Are Taking Notice:
Shovel-Ready Upside: City-approved architectural drawings and zoning variances mean you can break ground almost immediately.
Strong Cash-Flow Potential: The stabilized 16-unit project carries a recent appraisal near $3.6 million.
Attractive Incentives: Low-interest city loans, extended state historic credits and anticipated 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.
Don't miss this rare turnkey development play. Detailed financials, full plans, and incentive summaries available upon request. Serious inquiries only—schedule your site tour today.
Why Investors Are Taking Notice:
Shovel-Ready Upside: City-approved architectural drawings and zoning variances mean you can break ground almost immediately.
Strong Cash-Flow Potential: The stabilized 16-unit project carries a recent appraisal near $3.6 million.
Attractive Incentives: Low-interest city loans, extended state historic credits and anticipated 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.
Don't miss this rare turnkey development play. Detailed financials, full plans, and incentive summaries available upon request. Serious inquiries only—schedule your site tour today.
Location
State OH
County Cuyahoga
Rooms
Basement Full
Interior
Heating Hot Water, Steam
Fireplace No
Exterior
Parking Features Driveway, Paved
Fence Masonry, Partial
Water Access Desc Public
Present Use Vacant
Building
Story 3
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 119-05-029
Listed by Cielo McClain • Keller Williams Citywide • Cielo@CieloBlueCielo.com, 440-662-3704
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