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Kelso Medical Building-Contig Lots & Parking 1365 Kelso Dr 6,400 SF 100% Leased Office Building Kent, OH 44240 $1,250,000 ($195.31/SF)
INVESTMENT HIGHLIGHTS
- Suite 1: ±3,624 SF - office space (currently leased to the Cleveland Clinic)
- b Suite 2: ±2,519 SF - unfinished office space
- Gross Annual Rental Income: $54,000
EXECUTIVE SUMMARY
This rare freestanding two-unit, 6,144 SF office building sits on 1.61 acres and is partially leased to the Cleveland Clinic, making it ideal for an owner-occupier. The property offers 2,544 SF of space available for lease or owner use. The Cleveland Clinic lease runs through December 31, 2026, with two additional two-year renewal options extending through December 31, 2032, and includes a 120-day termination right. The existing lease generates $54,000 in annual rent, with the tenant covering 59% of taxes, insurance, and common area costs, and also includes a first right of refusal on the adjacent available space.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
6,400 SF
Building Class
B
Year Built
2008
Price
$1,250,000
Price Per SF
$195.31
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
6,400 SF
Building FAR
0.09
Lot Size
1.60 AC
Zoning
Town Center- Mixed Use - Zoning: TC (Town Center)
Parking
66 Spaces (6.66 Spaces per 1,000 SF Leased)
AMENITIES
- Property Manager on Site
- Security System
- Signage
- Central Heating
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Health Care and Social Assistance
- -
- $15.01
- Triple Net
- Jan 2027
Cleveland Clinic is a nonprofit academic medical center founded in 1921 in Cleveland, Ohio. It operates under the Cleveland Clinic Foundation and integrates clinical care with research and education. The organization is recognized for pioneering medical advancements, including the first coronary artery bypass surgery and the first U.S. face transplant. It is affiliated with Case Western Reserve University and other institutions for medical education and research.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Health Care and Social Assistance | - | $15.01 | Triple Net | Jan 2027 |
1 1
PROPERTY TAXES
| Parcel Number | 04-032-00-00-054-005 | Improvements Assessment | $200,130 |
| Land Assessment | $30,520 | Total Assessment | $230,650 |
PROPERTY TAXES
Parcel Number
04-032-00-00-054-005
Land Assessment
$30,520
Improvements Assessment
$200,130
Total Assessment
$230,650
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Kelso Medical Building-Contig Lots & Parking | 1365 Kelso Dr
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