26777 Lorain Rd
North Olmsted, OH 44070
The Community Building · Office Property For Sale

Marcus & Millichap is pleased to present for sale The Community Building, a 56,688 square foot multi-tenant medical office building located in North Olmsted, Ohio. The asset sits off Lorain road in a heavy retail/office sector in the city of North Olmsted. The building is approximately seventy six percent leased by tenants representing many different sectors of the professional service industries, with approximately fifty four percent specializing in medical or health related fields. There are nine separate Dental practices operating in the property. Dental practices are one of the least likely tenant profiles to close or relocate due to the build out costs and client familiarity with the location, twenty seven percent of the GLA at The Community Building is Dental. Other key tenants include Fairview Eye Center and Home Instead Care which occupy the largest of occupied medical spaces and work to provide continuous medical support for their clients. In addition to the tenant spaces, the property receives additional income through the use of conference space which can be rented out the tenants and/or community members. As mentioned, the property is located on the heavily traveled Lorain Rd, in North Olmsted, Ohio. The property is surrounded by both office and retail spaces which provide area residents with a number of opportunities to shop and eat. The property is less than half a mile from Great Northern Plazas, an area strip center which offers stores such as PetSmart, Home Depot, and Best Buy, along with a number of restaurants. The asset is in the shadow of the 1.2 million square foot Great Northern Mall, which provides additional shopping, food, and a Regal Cinemas movie theatre. There are strong traffic counts passing the building with a daily vehicle count of approximately 22,597. The property is approximately three miles from the nearest hospital, University Hospital’s St. John Medical Center, and one and a half miles from Fairview Hospital Medical Offices of North Olmsted. Lastly, The Community Building sits roughly sixteen miles southwest from the Cleveland Central Business District and experiences benefits due to proximity to the city.