358 N Rocky River Dr
358 N Rocky River Dr, Berea, OH 44017 | Berea Land Development
Justin Campbell
216-801-3599
358 N Rocky River Dr.
$350,000
358 N Rocky River Dr, Berea, OH 44017 | Berea Land Development
Multi-Parcel Investment Opportunity
PREMIER BEREA LAND DEVELOPMENT OPPORTUNITY
Four Minutes from the New $2.4 Billion Cleveland Browns Domed Stadium (Opening 2029)
Address: Berea, OH
Lot Size: ±1.02 Acres (5 Parcels, Contiguous Site)
Improvements: ±1,000 SF Building + ±200 SF Tiny House (ideal for storage, garage, or retail)
LOCATION HIGHLIGHTS
4 Minutes from the new Cleveland Browns Stadium in Brook Park — a $2.4B enclosed, mixed-use development slated to open for the 2029 NFL season.
Strategic corner-lot position in high-growth Berea corridor near I-71, Cleveland-Hopkins International Airport, and major retail corridors.
Surrounded by expanding hospitality, multifamily, and commercial development driven by stadium-related infrastructure.
PROPERTY FEATURES
±1.02 Acres across five contiguous parcels
Existing 1,000 SF building + 200 SF accessory structure suitable for retail, office, or storage
Excellent visibility and access — ideal for redevelopment or land banking ahead of stadium completion
Flexible zoning and utilities available
MAJOR DEVELOPMENT CATALYST
The New Cleveland Browns Stadium & Entertainment Complex
Location: 176-acre site in Brook Park, formerly the Ford Motor Co. property
Capacity: 67,500 seats, expandable to 75,000 for events
Features: Enclosed translucent roof, vertical “Dog Pound” fan wall, world-class entertainment experience
Construction Timeline:
Site work: Began October 2025
Groundbreaking: Early 2026
Opening: 2029 NFL Season
Total Project Cost: $2.4 Billion
$1.2B+ from Haslam Sports Group
Remainder via state, local, and public partnerships
Adjacent Mixed-Use District: Hotels, restaurants, retail, and residential planned to complement the stadium
INVESTMENT HIGHLIGHTS
Rare Berea redevelopment site positioned at the center of Cleveland’s largest sports and entertainment infrastructure project in decades.
Immediate upside from stadium-driven commercial and residential demand.
Perfect for developers, investors, or end users seeking long-term appreciation and mixed-use redevelopment potential.
📞 CONTACT
Justin Campbell
Managing Director | RCA | Russell Commercial Advisory
Russell Real Estate Services
📧 jcampbell@russellrealestate.com | 📞 (216)-801-3599
Investment highlights
Investment Highlights | Berea Land Site Development
Prime 1+ Acre Site | 4 Minutes from the New $2.4B Cleveland Browns Stadium
Development Overview
Exceptional infill development site located in Berea, OH—minutes from Downtown Cleveland, Hopkins International Airport, and the future Cleveland Browns Stadium & 175-acre mixed-use district.
Zoned for multifamily, mixed-use, or light commercial concepts, this 1+ acre parcel includes an existing 1,000 SF structure (garage | storage | retail potential) and full utility access, ideal for redevelopment into a 20–24 unit multifamily community or flex-use residential project.
Pro Forma Development Scenario
Concept: 22-Unit Apartment Project | $1,100–$1,300 Avg. Rent | 30% Operating Expenses
MetricScenario (22 Units)Average Rent$1,200 / monthGross Scheduled Rent$316,800 / yearLess Vacancy (5%)($15,840)Effective Gross Income$300,960Operating Expenses (30%)($90,288)Net Operating Income (NOI)$210,672Value @ 6.75% Cap≈ $3.12MValue @ 7.00% Cap≈ $3.01MValue @ 7.25% Cap≈ $2.91M
Upside: With modest unit count expansion or inclusion of premium 2BR floorplans, projected NOI exceeds $230K, supporting valuations between $3.25M–$3.45M on a fully stabilized basis.
Strategic Location Advantage
4 minutes to the planned $2.4B Cleveland Browns Stadium and Brook Park mixed-use entertainment district featuring hotels, retail, and residential.
Proximity to Baldwin Wallace University, Cleveland Hopkins Airport, IX Center, and Downtown Berea’s historic corridor.
Easy access via I-71, I-480, and the Opportunity Corridor Extension—connecting Berea directly to Cleveland’s Health-Tech and University Circle districts.
Strong surrounding employment base anchored by Cleveland Clinic, MetroHealth, Sherwin-Williams HQ, and NASA Glenn Research Center.
Why This Site
This site represents one of Berea’s last premier infill parcels—an opportunity to deliver new-construction multifamily or live-work housing near one of the largest public-private developments in Ohio history.
With rents projected between $1,100–$1,300, a stabilized multifamily concept would yield 6.75%–7% cap rates, solid cash flow, and strong long-term appreciation fueled by regional redevelopment momentum.
Property Facts:
APN Various
Property Type Land, Mixed Use (+3)
Sub Type Investment, Land (+1)
Square Footage 1,500
Net Rentable (SqFt) 1,100
Units 1
Class B
Year Built 1950
Buildings 1
Stories 1
Investment Type Value Add
Ceiling Height 12
Loading Docks 2
Dock High Doors 2
Ownership Listing
