21100 Southgate Park Blvd - Medical FOR SALE


Maple Heights, OH 44137
$5,490,000 USD
312-327-5495
21100 Southgate Park Blvd, Maple Heights, OH for Sale
$5,490,000 USD
Medical - FOR SALE
1/5
null | 8.8% Cap Rate

21100 Southgate Park Blvd
Maple Heights, OH 44137


HIGHLIGHTS

  • Immediate Access to I-480 (147,115 VPD) and I-271 (140,280 VPD)
  • Number of Businesses in a 5-mile radius: 8,200
  • Total Employees in a 5-mile radius: 128,196
  • Abundant Parking
  • General Commercial Zone
  • Located in an Opportunity Zone

OVERVIEW

Marcus & Millichap is pleased to present 21100 Southgate Park Blvd, Maple Heights, Ohio. Southgate Medical Arts Buildings I–III is a five-story, Class B office complex situated on 3.6 acres, offering 291 parking spaces. The property is 81.35% occupied, allowing for upside. The building is occupied by a diverse tenant mix, including education, healthcare and government services. Ohio College Preparatory School, a charter school, leases 46.6% of the building under a gross lease with rental escalations. There are 219 students attending grades K-8. The student-teacher ration is 12 to 1. Founded in 2014, the school is a long-term tenant. Signature Health, a behavioral health provider, leases 29.6% of the space under a triple-net lease structure with scheduled rental increases and one 1-year renewal option. Signature Health also holds a right-of-first refusal. The facility provides primary care, addiction recovery, mental health services, as well as a pharmacy and a laboratory. Signature Health employs over 100 staff members at this facility. They have also recently invested over $1 million in tenant improvements. Juvenile Court Probation occupies 5.2% of the building under a gross lease structure. The lease is backed by Cuyahoga County with a Fitch Ratings of AA+. Located along Southgate Park Boulevard, the property benefits from strong local traffic and excellent visibility. The boulevard intersects key roads such as Northfield Road, Sunnyslope Road, and Warrensville Center Road, and offers multiple points of ingress and egress. The site provides quick connectivity to major highways, including I-480 and the I-271 interchange, making it highly accessible. The surrounding Maple Heights area is a southeastern suburb of Cleveland, characterized by a mix of commercial uses, including offices, retail centers, and medical services. Nearby amenities include Home Depot, Foreman Mills, Giant Eagle, Advance Auto Parts, and Sub City, enhancing the convenience for tenants and visitors alike.

FOR SALE DETAILS

PRICE

$5,490,000 USD

PRICE/SF

$57 USD /SF

CAP RATE

8.8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Southgate Medical Arts Bldgs I-III

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

B

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

291

LAND DETAILS

LAND ACRES

3.6 AC

LAND SF

156,816 SF

ZONING

GC

APN/PARCEL ID

783-22-004,783-22-006

ASK ABOUT THIS PROPERTY

Thomas HeitzmanMarcus & MillichapMore Info
312-327-5495

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Thomas HeitzmanMarcus & MillichapMore Info
312-327-5495

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