6001 Euclid AveCleveland, OH 44103

Property Details for 6001 Euclid Ave

Year built

2018

Lot size

2.39 AC

Property size (Sq ft)

57,889 SF

Property type

Office buildings

APN

118-04-066

APU

11804066

Description

This exceptional investment opportunity presents a fully stabilized, Class A office portfolio totaling 90,383 square feet, strategically located in Cleveland's thriving Midtown neighborhood along the Health-Tech Corridor. The portfolio comprises two buildings: the modern Link59, a 61,000 square foot facility constructed in 2018, and the renovated Phoenix Building, a historically significant structure transformed into contemporary office space in 2018. Both buildings feature premium finishes and expansive glass lines. Link59 boasts a diverse tenant mix including MCPC, Cleveland Speech and Hearing, OHM Advisors, Starting Point, and Growth Opportunity Partners, while the Phoenix Building is anchored by Eagle Foods. The portfolio benefits from a shared surface parking lot with 197 spaces and enjoys a remarkable 94% occupancy rate, generating a strong Net Operating Income (NOI) of $1,349,366. All leases are NNN with corporate guarantees and significant remaining lease terms. The property sits on a 3.12-acre lot and is priced at $16,000,000, representing an attractive 8.43% capitalization rate. This represents a core investment in a rapidly growing area with significant organic expansion. The portfolio offers a compelling combination of modern amenities, historical charm, and strong financial performance. The buildings are three stories each, offering a total of 90,383 net rentable square feet, priced at $177.02 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $10,414,226

  6.5%

  $9,613,132

  7%

  $8,926,480

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,414,937

  Geo Method

  $5,414,937

• Alternative Use

  Use

  Valuation

  Residential

  $11,920,284

  Hospitality

  $10,918,916

  Educational

  $9,084,410

  Medical

  $9,396,837

  Retail

  $14,131,304

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.5052

Longitude

-81.6487

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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