2630 Payne AveCleveland, OH 44114

Property Details for 2630 Payne Ave

Year built

1921

Construction

CONCRETE

Lot size

0.44 AC

Property size (Sq ft)

65,188 SF

Zone code

SI

Property type

Warehouses

APN

102-34-036

APU

10234036

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $13,423,266

  Hospitality

  $12,295,640

  Educational

  $10,229,828

  Medical

  $10,581,647

  Retail

  $15,913,066

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.5071

Longitude

-81.6702

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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