7530 Lucerne DrMiddleburg Heights, OH 44130

Property Details for 7530 Lucerne Dr

Year built

1978

Construction

TYPE NOT SPECIFIED

Lot size

23.68 AC

Property size (Sq ft)

55,236 SF

Zone code

OB

Property type

Office buildings

APN

374-15-001

APU

37415001

Description

Islander II, a four-story, 48,631 square foot office building located at 7530 Lucerne Dr, Middleburg Heights, OH 44130 (cross street: Pearl Road), offers a blend of traditional and creative office spaces. Built in 1978 and extensively renovated in 2023, this Cuyahoga County property boasts multiple tenancy options with a minimum divisible space of 1,881 square feet and larger suites available up to 6,541 square feet. Recent upgrades include completely remodeled lobbies and tenant corridors, reflecting a significant investment by ownership. The building provides exceptional amenities for tenants, including a newly renovated executive conference room, a fully equipped fitness center, a refreshing swimming pool, and tennis courts. A large meeting room with a capacity of up to 50 people is also available. On-site management and engineering teams ensure smooth operations and responsive maintenance. This well-located property presents a compelling opportunity for businesses seeking modern, amenity-rich office space in a desirable location. Six spaces are currently available.

• CAP approach

  CAP return

  Valuation

  6%

  $9,936,952

  6.5%

  $9,172,571

  7%

  $8,517,387

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,166,776

  Geo Method

  $5,166,776

• Alternative Use

  Use

  Valuation

  Residential

  $11,373,988

  Hospitality

  $10,418,512

  Educational

  $8,668,080

  Medical

  $8,966,188

  Retail

  $13,483,679

Location Insight

City

Middleburg Heights

County

Cuyahoga

State

Ohio

Latitude

41.3553

Longitude

-81.8157

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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