6659 Pearl RdParma Heights, OH 44130

Property Details for 6659 Pearl Rd

Year built

1966

Construction

TYPE NOT SPECIFIED

Lot size

0.92 AC

Property size (Sq ft)

25,264 SF

Zone code

C

Property type

Office buildings

APN

473-32-001

APU

47332001

Description

Freedom Square, located at 6659 Pearl Rd, Parma Heights, OH 44130, presents a compelling opportunity for businesses seeking versatile office space. This Class B, four-story building, totaling 30,434 square feet, underwent renovations in 2023, offering modern amenities within a well-established location. The property features 15 suites, with sizes ranging from a minimum of 300 square feet to a maximum contiguous space of 6,000 square feet, catering to diverse business needs. Multiple tenancy options are available. The building boasts convenient access, including one elevator and ample free surface parking with 65 spaces. Its prime location at the intersection of W. 130th & Pearl Rd provides excellent road exposure, with over 16,000 cars passing daily. The building offers 24/7 access and is ADA compliant. Situated on a 9.17-acre lot, Freedom Square benefits from its proximity to numerous restaurants, retail establishments, and hotels. The building is zoned Class C - Commercial and is part of the Parma Heights submarket. Built in 1966, this property combines classic charm with modern updates, making it an ideal location for a variety of businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $4,544,992

  6.5%

  $4,195,377

  7%

  $3,895,707

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,363,194

  Geo Method

  $2,363,194

• Alternative Use

  Use

  Valuation

  Residential

  $5,202,268

  Hospitality

  $4,765,249

  Educational

  $3,964,631

  Medical

  $4,100,981

  Retail

  $6,167,204

Location Insight

City

Parma Heights

County

Cuyahoga

State

Ohio

Latitude

41.3815

Longitude

-81.7806

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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