3711 Chester Ave - Office FOR SALE
Cleveland, OH 44114 |
$8,700,000 USD
440-915-7902
3711 Chester Ave
Cleveland, OH 44114
HIGHLIGHTS
- Incredible Investment Opportunity: 2-tenant, NNN office building with newly built-out tenant spaces on recent extension/lease executions
- CHN relocation and expansion, while self-funding approximately $3,045,000 to their build-out, designed to meet their specific needs
- Surrounded by a world-class hospital system (Cleveland Clinic), universities (Cleveland State University - 14k Students & Case Western Reserve)
- Extremely high-traveled Chester Avenue with over 40,000 vehicles per day surrounding the building
- Advantageously located with convenient highway access: 0.5 miles to major interstate, I-90, connecting to all other Cleveland highway systems with ove
- Main business corridor positioned between Downtown Cleveland, Cleveland State University & the Cleveland Clinic, Cleveland’s largest employer
OVERVIEW
-Strong Employment Base: The Cleveland Clinic, University Hospitals and MetroHealth Medical Center, as well as American Greetings, Eaton Corp., Sherwin-Williams, KeyBank, Progressive Insurance, First Energy, TRW, Goodyear Tire, RPM International, Diebold, Parker-Hannifin, A.Schulman, Timken, J. Smuckers, Nestle, Cliffs Natural Resources, Travel Centers of America, NASA Glenn Research Center, Nestle, Cintas and Jones Day
-Main business corridor positioned between Downtown Cleveland, Cleveland State University & the Cleveland Clinic, Cleveland’s largest employer
-Ideal geographic location: densely populated county seat and just 13 miles to Cleveland Hopkins International Airport
FOR SALE DETAILS
PRICE
$8,700,000 USD
PRICE/SF
$94 USD /SF
CAP RATE
8.5%
% LEASED
-
TENANCY
Multiple
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
2-Tenant, NNN Office | 10-Yr Leases w/Bumps
PROPERTY TYPE
Office
ADD'L SUBTYPES
Storefront Retail/Office, Loft/Creative Space, Office/Residential
TOTAL BUILDING SIZE
-
STORIES
4
BUILDING CLASS
B
YEAR BUILT
1920
SPRINKLERS
-
PARKING SPACES
337
LAND DETAILS
LAND ACRES
2.17 AC
LAND SF
94,525 SF
ZONING
GR-C2, Cleveland
APN/PARCEL ID
102-38-041,102-40-014,102-40-046
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440-915-7902
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440-915-7902
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