25701 N Lakeland Blvd - Medical FOR SALE


Cleveland, OH 44132
$3,750,000 USD
216-306-5349
25701 N Lakeland Blvd, Cleveland, OH for Sale
$3,750,000 USD
Medical - FOR SALE
1/29
null | Request Cap Rate

25701 N Lakeland Blvd
Cleveland, OH 44132


HIGHLIGHTS

  • Prime 43,000+ SF office asset positioned excellently along Lakeland Freeway/Interstate 90 in the Cleveland suburb of Euclid.
  • Exceptional investment or owner/user opportunity to acquire a 74% leased building with upside through vacancy lease-up or owner occupancy.
  • Property has close proximity to Downtown Cleveland, the Cleveland Hopkins International Airport, and the wide-reaching Cleveland metro area.
  • Located near a wealth of amenities including CVS Pharmacy, Chase Bank, Pizza Hut, Wendy's, Walgreens, Taco Bell, and many more.
  • Strong 10-mile population of over 467,000 residents with a large talent pool that reaches over 220,000 for education/health and business services.

OVERVIEW

Rock Management is pleased to present a strong investment opportunity to acquire a 74% leased office building with immense upside through a strategic lease-up in the sprawling Cleveland metro along Lake Erie. 25701 N Lakeland Boulevard was constructed in 1965 on a spacious 2.70-acre lot zoned U8. The building totals approximately 43,812 square feet across four floors. The property's acreage permits for an impressive 6:10 parking ratio with approximately 250 surface-level parking spaces. The building is equipped with air conditioning, central heating, a security system, soundproof walls, two elevators, a kitchen, and much more. This asset has excellent cash flow and value-add potential through the lease-up of vacant space. A new owner could be an investor looking to fill the vacant space with a new tenant, but this is also a prime owner/user opportunity with optionality. The current tenant mix comprises office and mixed-use offices. The property has seen numerous improvements in recent years, including resealing and re-striping the entire parking lot, new roofing, and an extensive office renovation and build-out. The property has a prime location with fantastic Interstate 90 exposure and immediate freeway access, as well as close proximity to Downtown Cleveland and the Cleveland Hopkins International Airport. With convenient access to the property, commuters can easily reach 25701 N Lakeland Boulevard from a wide geographic area, including Cleveland, University Heights, Highland Heights, Mayfield Heights, Willoughby, and others. The nearby area is mostly industrial, with an Amazon fulfillment center just a couple of blocks away. Some of the nearby retailers include Atlas Cinemas, Chase Bank, CVS Pharmacy, KFC, Pizza Hut, Popeyes, SIMS Buick, Simon's Supermarket, Walgreens Whistle Stop Tavern, and more.

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$96 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Lakeland Medical Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Loft/Creative Space, Medical

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

250

LAND DETAILS

LAND ACRES

2.7 AC

LAND SF

117,612 SF

ZONING

U8, Office Building

APN/PARCEL ID

643-25-010

ASK ABOUT THIS PROPERTY

David PessarRock Management LLCMore Info
216-306-5349

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David PessarRock Management LLCMore Info
216-306-5349

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