3690 Orange Pl - Medical FOR SALE


Beachwood, OH 44122
$13,000,000 USD
216-525-1488
3690 Orange Pl, Beachwood, OH for Sale
$13,000,000 USD
Medical - FOR SALE
1/10
null | 9.83% Cap Rate

3690 Orange Pl
Beachwood, OH 44122


HIGHLIGHTS

  • Property offers prime highway (I-271) exposure.
  • Tenants benefit from numerous nearby amenities, including Pinecrest, an award-winning mixed-use development.

OVERVIEW

Built in 1974, this iconic medical and office building has prime highway (I-271) exposure in the affluent and growing east side suburb of Beachwood. Located along Chagrin Boulevard and immediately visible from I-271, Orangewood Place hosts various professional and medical tenants. The property features a large surface lot with 414 spaces and a 150-car underground garage. Its standout feature is a 5-story central glass atrium, flooding the common areas with natural light and providing access from 4 sides of the building. Tenants benefit from nearby amenities, including Pinecrest, an award-winning mixed-use development. The 128,729 SF building is currently 88% occupied, offering significant upside for new ownership to fill vacancies and increase income potential. Recent investments include new elevators, a new roof, parking garage stabilization, waterproofing, and new concrete walkway and sidewalks on frontage of the property. Upgrades include restrooms, lobby, parking lot, and lighting. Orangewood Place combines an unbeatable location, strong tenant roster, fantastic upside potential, and premium asset quality in Cleveland’s most active and affluent office market.

FOR SALE DETAILS

PRICE

$13,000,000 USD

PRICE/SF

$101 USD /SF

CAP RATE

9.83%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Orangewood Place Medical Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

B

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

564

LAND DETAILS

LAND ACRES

4.73 AC

LAND SF

206,039 SF

ZONING

U-9

APN/PARCEL ID

742-28-008,901-01-062

ASK ABOUT THIS PROPERTY

David LebCushman & Wakefield | CRESCO Real EstateMore Info
216-525-1488

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David LebCushman & Wakefield | CRESCO Real EstateMore Info
216-525-1488

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