2630 Payne Ave Cleveland, OH 44114

This exceptional 65,188-square-foot flex space industrial building at 2630 Payne Avenue in Cleveland, Ohio, presents a compelling redevelopment opportunity. Priced at $1,900,000 ($29.15/sq ft), this four-story property boasts 16-foot ceiling heights, passenger and freight elevators, and ample on-site parking. Situated in a high-growth area adjacent to the Cleveland State University campus, this location benefits from the university's master plan, projecting 20,000 students by 2024. The property's high visibility and immediate access to I-90 enhance its appeal. Built in 1921, this historic brick warehouse is located within an Opportunity Zone and may qualify for Historic Preservation and/or New Market Tax Credits. The property includes an additional land/lot and an adjacent parcel at 1764 E 27th Street, expanding its potential. Ideal for residential or mixed-use conversion, this asset offers significant upside for investors seeking a prime location in a rapidly developing area. The property's size, features, and strategic location combine to create a unique investment opportunity with substantial long-term growth potential.