22710 Fairview Center Dr - Medical FOR SALE


Fairview Park, OH 44126
$2,310,037 USD
918-794-9787
22710 Fairview Center Dr, Fairview Park, OH for Sale
$2,310,037 USD
Medical - FOR SALE
1/7
null | 9.5% Cap Rate

22710 Fairview Center Dr
Fairview Park, OH 44126


HIGHLIGHTS

  • Leading Operator – DaVita, Inc. | 2,675 clinics | 200,800 patients
  • Strong Parent Company– $12.14 billion revenue | $691 million net income | S&P: BB
  • Value-Add Opportunity – 56% vacancy
  • Top 50 MSA – Cleveland | Population 2,185,825, Strategically Positioned – Just off Interstate 480
  • Located Near Airport – Within one mile of Cleveland Hopkins International Airport
  • Excellent Demographics – 209,000 population | $110,000 AHHI (5-mile)

OVERVIEW

Northmarq Commercial is pleased to present to qualified investors the opportunity to acquire the fee simple interest in the land and building of a multi-tenant medical- anchored office facility located in Fairview Park, Ohio (the “Property”). The Property consists of 0.46 acres and a one story, 11,806-square-foot medical office that was built in 2007. It is situated in Fairview Center at the intersection of West 227th Street and Brookpark Road (12,122 VPD) just off Interstate 480 (92,844 VPD) making the site extremely accessible. There are nearly 209,000 in population in a five-mile radius with an average household income in excess of $110,000 annually. The Primary Tenant is Total Renal Care, Inc., a subsidiary of DaVita, Inc. who occupies 34% of the Property. DaVita has operated at this location since 2008 and retrofitted the space to their exact specifications and strategically selected this site to grow their presence in the Cleveland market. The Tenant recently executed a five (5) year lease expiring February 28, 2029 with three additional five (5) year options with ten percent (10%) increases at the start of each option. The annual rent is currently $70,770 and the lease is NN with limited landlord responsibilities. In association with: Jeff McKinney - OH Lic. #BRK.2016002560

FOR SALE DETAILS

PRICE

$2,310,037 USD

PRICE/SF

$178 USD /SF

CAP RATE

9.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fairview Park MOB

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

59

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

OB-2

APN/PARCEL ID

331-10-045

ASK ABOUT THIS PROPERTY

Scott BriggsNorthmarqMore Info
918-794-9787

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Scott BriggsNorthmarqMore Info
918-794-9787

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.