8212 83Rd StCleveland, OH 44103

Property Details for 8212 83Rd St

Year built

1910

Construction

TYPE NOT SPECIFIED

Lot size

0.51 AC

Property size (Sq ft)

2,880 SF

Zone code

SI

Property type

Retail properties

Property subtype

Retail space

APN

119-21-002

APU

11921002

Description

This exceptional retail storefront opportunity, located at 8212 E 83rd St in Cleveland, Ohio, presents a compelling investment prospect. The property encompasses a substantial 6,200 square feet of space, distributed across two buildings, each two stories high, built in 1932. Situated on a generous 22,313 square foot lot (APN: 119-21-002, 119-21-059, 112-21-058), the property is zoned S1. Its strategic location in the Fairfax neighborhood places it ideally between Midtown and University Circle, two thriving areas. Midtown boasts a concentration of health tech, high-tech businesses, and non-profit organizations, while University Circle is renowned for its educational institutions and museums. This prime location offers significant advantages, benefiting from the vibrant growth and diverse work-play environment of the area. The property's proximity to the Cleveland Clinic campus and PNC Fairfax Connection further enhances its appeal. The asking price for this remarkable opportunity is $525,000. This presents a unique chance to acquire a well-positioned retail property in a rapidly developing area with substantial potential for future growth and development.

• CAP approach

  CAP return

  Valuation

  6%

  $761,624

  6.5%

  $703,038

  7%

  $652,821

• Comparable approach

  Method

  Valuation

  Relative Method

  $678,876

  Geo Method

  $678,876

• Alternative Use

  Use

  Valuation

  Residential

  $593,039

  Hospitality

  $543,220

  Educational

  $451,953

  Medical

  $467,496

  Retail

  $703,038

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.5011

Longitude

-81.6303

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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