5217 Broadway Ave
5217 Broadway Ave, Cleveland, OH 44127 | Broadway Redevelopment Opportunity
Tal Tamir
216-870-8687
5217 Broadway Ave
$950,000
5217 Broadway Ave, Cleveland, OH 44127 | Broadway Redevelopment Opportunity
~1.01 Acres | CLE's Urban Core
Rare one-acre redevelopment opportunity in Cleveland’s urban core! This unique offering combines six site-assembled parcels totaling approximately 1.01 acres (.86 + .15), zoned Local Retail Business (LR-C2). Perfectly positioned adjacent to NRP Group’s brand-new 5115 The Rising community, featuring 88 affordable apartment and townhome units. Enjoy excellent access and visibility with close proximity to I-77, I-490, and direct connection to the $350M Opportunity Corridor, offering seamless access to Downtown Cleveland and just 10 minutes to the Cleveland Clinic and University Circle. Two buildings—5311 Magnet and 5243 Broadway—are currently occupied with an attached rent roll, providing immediate income potential while planning redevelopment. A truly rare chance to invest in Cleveland’s next wave of urban revitalization!
Investment highlights
Rare chance to invest in CLE’s next wave of urban revitalization!
Six site-assembled parcels
~1.01 acres (0.86 + 0.15) zoned Local Retail Business (LR-C2)
Adjacent to NRP Group’s brand-new 5115 The Rising community (88 affordable units)
Direct connection to the $350M “Opportunity Corridor”
2 income-producing buildings (5311 Magnet & 5243 Broadway) provide cash flow during redevelopment planning
Property Details:
Property Type: Mixed Use, Multifamily
Sub Type: Apartment Building
Square Footage: 91,086
Tenancy: Multi
Price per SqFt: $10
Broker Co-Op: Yes
Class: B
Acreage: 0.991
Investment Type: Redevelopment
