6000 Parkland Blvd - Office FOR SALE


Mayfield Heights, OH 44124
$5,800,000 USD
440-467-3535
6000 Parkland Blvd, Mayfield Heights, OH for Sale
$5,800,000 USD
Office - FOR SALE
1/23
null | Request Cap Rate

6000 Parkland Blvd
Mayfield Heights, OH 44124


HIGHLIGHTS

  • Exceptional opportunity to secure a Class A professional office building in a premier location at a price well below replacement cost.
  • Offering a 15.28% cap rate and a projected 40% cash-on-cash return at 95% occupancy, with an estimated $934,000 boost in net operating income.
  • Strong current tenancy offering in-place income from recent NNN lease extension with Howard Hanna (top residential real estate company nationally).
  • Value-add or owner/user investment with tremendous upside at 33% occupied, allowing buyers to lease up at market rates.
  • Premier location at the corner entrance to Landerhaven Corporate Center with premier exposure to Parker Hannifin’s global HQ.

OVERVIEW

6000 Parkland Boulevard presents a tremendous opportunity for investors and owner/users in Mayfield Heights, Ohio. The building features a flexible, contiguous floor plan with two identical wings joined by a dramatic glass atrium that fills common spaces with natural light. High-end amenities include ample surface parking for tenants and visitors, impressive interior upgrades throughout, and a sleek and modern commercial kitchen in a vacant suite. Significant tenant improvements have already been made, adding to the building’s appeal and functionality. Its design supports a range of uses, from traditional office space to creative or collaborative environments, and is well-suited for future leasing at market rates. Strong in-place income is provided by a long-term NNN lease with Howard Hanna, ensuring stability as the property continues to attract new tenants. This Class A office building is a rare investment at a price well below replacement cost. With 33% occupancy, there’s significant upside for both investors and owner/users. Projected returns include a 15.28% cap rate and 40% year-one cash-on-cash return at 95% occupancy, with an estimated $933,642 increase in net operating income. Strategically located at the signalized corner entrance to the Landerhaven Corporate Center, the property enjoys premier visibility along Lander Road and direct exposure to Parker-Hannifin’s global headquarters. This address is surrounded by some of the highest office occupancy rates in Greater Cleveland and prominent employers such as Progressive Corporation, Rockwell Automation, Nesco, ParkOhio, and Vibrantz. With easy access to Interstate 271 and proximity to major shopping centers, lifestyle destinations, Cleveland Clinic’s Hillcrest Hospital, and numerous hotels, restaurants, and fitness centers, this property is near it all. The affluent local community boasts average household incomes exceeding $146,000 within 5 miles and top-rated schools, making it a prime location for attracting high-quality tenants. Additionally, the short commute to Downtown Cleveland and proximity to major employers, colleges, and Cleveland Hopkins International Airport further enhance the property’s long-term investment appeal.

FOR SALE DETAILS

PRICE

$5,800,000 USD

PRICE/SF

$75 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tremendous NNN Value Add or Owner/User Inv.

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

A

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

409

LAND DETAILS

LAND ACRES

6.3 AC

LAND SF

274,428 SF

ZONING

U-7

APN/PARCEL ID

863-17-002

ASK ABOUT THIS PROPERTY

Dan CooperCooper Commercial Investment GroupMore Info
440-467-3535

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Dan CooperCooper Commercial Investment GroupMore Info
440-467-3535

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