Lake West Medical Building presents a rare opportunity to acquire a stabilized, institutionally built medical office asset in the heart of Northeast Cleveland’s healthcare corridor. Situated directly across from the 237-bed University Hospitals Lake West Medical Center, this four-story, 46,531 SF facility is anchored by long-tenured tenants including Lake Health, Ophthalmology Consultants, and Atrium Medical Group. With 60.6% occupancy and an average tenant tenure of 12.7 years, the property offers immediate cash flow with upside potential through lease-up or repositioning.
The building’s reinforced concrete construction, ADA-compliant access, and HVAC-inclusive leases reflect its professional management and suitability for healthcare users. The site spans 2.87± acres and includes 200 surface parking spaces, delivering a superior 5.15/1,000 SF parking ratio. Located on Euclid Avenue, the property benefits from exposure to over 31,000 vehicles daily and sits within a thriving retail corridor featuring Target, Lowe’s, Giant Eagle, and Chick-fil-A. With zoning that supports retail-business use and proximity to I-90 and Route 2, investors can explore redevelopment or densification strategies to unlock further value.
The surrounding area boasts strong demographics, with over 120,000 residents within five miles and average household incomes exceeding $90,000. As part of the Cleveland-Akron-Canton region, Willoughby offers a blend of suburban stability and metropolitan access, making this asset a compelling addition to any healthcare or value-add portfolio.