Property Details:

Listing Type: Sale
Primary Use: Redevelopment
Sale Price: $1,000,000
Parcel Number: 119-33-022, 119-33-023, 119-33-024, 119-33-045, 119-33-046, 119-33-047, 119-33-105

Property Description:

1.02 acre development site adjacent to Cleveland Clinic - Rare land assemblage immediately next to the Cleveland Clinic main campus in one of the strongest employment hubs in Northeast Ohio. Vertical Development Opportunity – Site is currently approved for a 36-unit multifamily project (with potential to add more density). Plans Included with Sale – Transaction includes a complete set of approved architectural plans, allowing a developer to accelerate timeline and reduce entitlement risk. Exceptional Rental Fundamentals – University Circle/Clinic submarket features some of the highest rents in Cleveland with vacancy below 5%, driven by demand from Cleveland Clinic, University Hospitals and Case Western Reserve University. Attractive Basis – $1,000,000 Asking Price – Assemblage includes parcels acquired through the Cleveland Land Bank, creating a compelling entry price for a high-density urban development opportunity. Site is located within an opportunity zone. 15-year 100% tax abatement in place. Full underwriting model with construction costs available upon request.