This four-story, Class B medical office building, constructed in 1991, offers 3,331 square feet of immediately available space in a prime location. Situated on a 3.84-acre lot in Cuyahoga County (APN 43314053), the property boasts 329 parking spaces and is zoned G-B. Its convenient location is just seconds from the I-480 Ridge Road exit, providing easy access for patients and staff. The building features an impressive four-story atrium and abundant natural light thanks to ribbon glass windows. Tenants enjoy the benefit of a free conference facility, and the building's proximity to hotels, restaurants, and retail establishments adds to its appeal. The building currently has multiple tenants. This is an exceptional opportunity to acquire a well-maintained medical office building with significant potential. The property is ideal for a variety of medical practices, offering ample space and convenient amenities. The large surface parking area ensures convenient parking for tenants and their guests. This is a rare opportunity to own a well-located and well-maintained medical office building in a thriving area.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$12,523,193
6.5%
$11,559,871
7%
$10,734,166
Comparable approach
Method
Valuation
Relative Method
$6,511,506
Geo Method
$6,511,506
Alternative Use
Use
Valuation
Residential
$14,334,240
Hospitality
$13,130,086
Educational
$10,924,078
Medical
$11,299,774
Retail
$16,993,010
Location Insight
City
Brooklyn
County
Cuyahoga
State
Ohio
Latitude
41.4245
Longitude
-81.7397
CBSA code
17460
CBSA name
CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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