2801 Carnegie Avenue

The offering includes both a purchase option at $4,500,000 and a lease option at $6.00 per square foot, Net, providing flexibility for owner-users, investors, and commercial tenants alike. The property sits on approximately 4.5 acres (Parcel No. 103-14-046) and features approximately 65,000 square feet of purpose-built automotive dealership space, representing a price per square foot of just $69/ SF — an attractive basis for a building of this scale and configuration in a highly accessible urban location. The site includes over 300 existing parking spaces, 480V, 3-phase power with 600-amp service, and provides rental income from an existing tenant through September 2027, offering immediate cash flow to an acquiring investor. Situated in Cleveland’s vibrant Campus District, the property benefits from exceptional visibility and access along one of the city’s most historically significant commercial corridors. Carnegie Avenue provides direct connectivity to I-90, I-77, and I-71, placing the site within minutes of downtown Cleveland, Cleveland Hopkins International Airport (approximately 12 miles), and the broader Northeast Ohio market. The surrounding neighborhood is anchored by Cleveland State University, Cuyahoga Community College’s Metro Campus, and St. Vincent Charity Medical Center, generating consistent daytime population and institutional demand.

The building itself was purpose-built for automotive dealership use and has served as the home of Central Cadillac — Cleveland’s longest-operating Cadillac dealership, established in 1943 — since relocating to this address in 1949. The structure is well-suited for a wide range of automotive, retail, service, or flex/commercial uses, with improvements including showroom space, service bays, parts storage, and substantial on-site parking — all of which translate readily to a variety of end users. This is a rare opportunity to acquire or occupy a large-format, high-visibility commercial building with an institutional ownership history in a densely populated urban core, offered at a basis well below replacement cost.

Carnegie Ave 26,273 VPD

Prospect Avenue E 8,680 VPD

I-90 137,610 VPD

E 30th St 10,525