22901 Millcreek Blvd - Office FOR SALE


Highland Hills, OH 44122
$22,000,000 USD
216-235-1559
22901 Millcreek Blvd, Highland Hills, OH for Sale
$22,000,000 USD
Office - FOR SALE
1/16
null | 7.38% Cap Rate

22901 Millcreek Blvd
Highland Hills, OH 44122


HIGHLIGHTS

  • Extensive amenity package & recent upgrades position property competitively for discerning tenants, ensuring strong retention & leasing potential.

OVERVIEW

Metropolitan Plaza presents a prime opportunity to acquire a Class A multi-tenant office building in the affluent east-side suburbs of Cleveland, OH. Built in 2000, the property spans approximately 200,974 square feet and boasts a current occupancy rate of 63%. Strategically located within the vibrant Chagrin Highlands area, it offers convenient access to major highways, a diverse range of amenities, and a strong talent pipeline from nearby colleges and universities. The property’s extensive amenity offerings, including a modern tenant lounge, fitness center, conference facilities, on-site food service, covered parking, and a scenic courtyard, have been recently upgraded to enhance the tenant experience. With a weighted average lease term of nearly five years and competitive rental rates, Metropolitan Plaza provides stable in-place cash flow with significant value-add potential through the lease-up of its 37% vacancy. Its prime location in Highland Hills benefits from proximity to I-271 and a strong corporate presence, supported by nearby dining, retail, and fitness options. The combination of Class A construction, flexible suite configurations, and high demand in the office market makes this a compelling investment opportunity with strong leasing potential. Metropolitan Plaza presents a prime opportunity to acquire a Class A multi-tenant office building in the affluent east-side suburbs of Cleveland, OH. Built in 2000, the property spans approximately 200,974 square feet and boasts a current occupancy rate of 63%. Strategically located within the vibrant Chagrin Highlands area, it offers convenient access to major highways, a diverse range of amenities, and a strong talent pipeline from nearby colleges and universities. The property’s extensive amenity offerings, including a modern tenant lounge, fitness center, conference facilities, on-site food service, covered parking, and a scenic courtyard, have been recently upgraded to enhance the tenant experience. With a weighted average lease term of nearly five years and competitive rental rates, Metropolitan Plaza provides stable in-place cash flow with significant value-add potential through the lease-up of its 37% vacancy. Its prime location in Highland Hills benefits from proximity to I-271 and a strong corporate presence, supported by nearby dining, retail, and fitness options. The combination of Class A construction, flexible suite configurations, and high demand in the office market makes this a compelling investment opportunity with strong leasing potential.

FOR SALE DETAILS

PRICE

$22,000,000 USD

PRICE/SF

$109 USD /SF

CAP RATE

7.38%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Metropolitan Plaza

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

7

BUILDING CLASS

A

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

711

LAND DETAILS

LAND ACRES

15.57 AC

LAND SF

678,229 SF

ZONING

MPUD

APN/PARCEL ID

751-01-021

ASK ABOUT THIS PROPERTY

Rico PietroCushman & Wakefield | CRESCO Real EstateMore Info
216-235-1559

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Rico PietroCushman & Wakefield | CRESCO Real EstateMore Info
216-235-1559

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