Property Description

Condemned 1885 mixed-use building on Broadway in Cleveland's Broadway-Slavic Village, 17,838 square feet of brick masonry on a 6,250 square foot lot, listed at $100,000, or $5.61 per square foot. County records carry the land use as general retail with walk-up apartments and the parcel is zoned general commercial, so the building can return as storefronts under apartments or another permitted use. The site sits a block and a half north of Broadway and East 55th, the intersection GCRTA's Broadway transit-oriented development plan names the corridor's first priority for investment inside a program estimated just under $50 million, with bus rapid transit and bus-only lanes planned across more than half the corridor. The Village 55 partnership is pursuing a $60 million to $70 million first phase at that same intersection, and NRP Group's 5115 The Rising delivered four blocks south. The $350 million Opportunity Corridor connects to University Circle and the Cleveland Clinic. The building needs everything and should be underwritten as a full gut. Buyers should confirm the condemnation record and permitting path with the City. Property records, condemnation documentation and available due diligence are in the Document Center. Reach out for the package and to get on the tour schedule.

Property Features

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