1808 31St StCleveland, OH 44114

Property Details for 1808 31St St

Lot size

0.13 AC

Zone code

SI

Property type

Parking lots & garages

APN

102-35-052

APU

10235052

Description

This exceptional 0.122-acre commercial lot presents a unique investment opportunity in Cleveland, Ohio. Currently featuring a 5,487 square foot paved parking lot, this property is ideally situated at 1808 East 31st Street, in the 44114 zip code, within Cuyahoga County. Its strategic location offers excellent highway access and is in close proximity to Downtown Cleveland, Cleveland State University (CSU), and the Cleveland Clinic, ensuring high visibility and accessibility. The property is zoned Semi-Industrial (SI), making it suitable for a variety of commercial uses. Adding to its appeal, this lot is located within an Opportunity Zone, potentially offering significant tax advantages for qualified investors. The lot's size, existing infrastructure, and prime location combine to create a compelling opportunity for development or expansion. The property's APN is 10235052. This is a rare chance to acquire a well-positioned commercial parcel in a thriving urban area. The asking price is to be determined.

• CAP approach

  CAP return

  Valuation

  6%

  $1,451,053

  6.5%

  $1,339,434

  7%

  $1,243,760

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,293,400

  Geo Method

  $1,293,400

• Alternative Use

  Use

  Valuation

  Residential

  $1,129,862

  Hospitality

  $1,034,948

  Educational

  $861,064

  Medical

  $890,678

  Retail

  $1,339,434

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.5059

Longitude

-81.667

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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