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32875 Solon Rd 13,480 SF 100% Leased Office Building Solon, OH 44139 $3,500,000 ($259.64/SF) 6.64% Cap Rate
Investment Highlights
- Anchored by Apex Dermatology since 2013 — 15-location regional dermatology practice
- Immediate rental income from established medical tenant offsets carrying costs
- Health Care is Solon's largest employment sector at 2,429 employees
- Approx 8,197 SF available for owner occupancy following anchor departure
- Building shell supports future second-floor buildout for long-term expansion
- 25 bath fixtures & package HVAC — infrastructure suited to multi-suite medical use
Executive Summary
Approx 8,197 SF available for owner occupancy following KW's departure — ideal for medical, dental, therapy, or professional user seeking to occupy their own building while collecting income from an established medical tenant. Existing build-out: approximately 14 private offices in varying sizes, one large conference/training room, reception, central open workspace w/ multiple workstations, kitchen, copy room, & multiple storage rooms. Flexible configuration suitable for build-out to accommodate medical, professional, or corporate uses.
Expansion potential: shell & structural capacity support future second-floor buildout, offering meaningful long-term expansion capability.
Single-story Class B, renovated 2010, on 1.183 acres w/ 170 ft frontage on Solon Rd & prominent monument signage. 66 parking spaces (4.85 per 1,000 SF) support medical use w/ strong patient & staff capacity. 25 bath fixtures, package HVAC, & public utilities — infrastructure suited to multi-suite medical or professional use.
Direct access to Solon Rd, Bainbridge Rd, & Aurora Rd (37,339 combined VPD), w/ US-422 under 1 mile north (72,015 VPD) connecting to I-271 & I-480. Cleveland Hopkins Airport 21 mi west, Downtown Cleveland 18 mi northwest.
One of NE Ohio's premier suburban submarkets. Solon median HHI 139,089 dollars, avg HHI 186,473 dollars (Census 2024). Health Care & Social Assistance is Solon's largest employment sector at 2,429 employees. Surrounded by major employers: Swagelok, Nestle, Cleveland Clinic Solon, CVS Caremark, Pentair, & MRI Software.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$240,492
|
$17.68
|
| Other Income |
$72,562
|
$5.34
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$313,054
|
$23.02
|
| Taxes |
$38,161
|
$2.81
|
| Operating Expenses |
$42,328
|
$3.11
|
| Total Expenses |
$80,489
|
$5.92
|
| Net Operating Income |
$232,565
|
$17.10
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $240,492 |
| Annual Per SF | $17.68 |
| Other Income | |
|---|---|
| Annual | $72,562 |
| Annual Per SF | $5.34 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $313,054 |
| Annual Per SF | $23.02 |
| Taxes | |
|---|---|
| Annual | $38,161 |
| Annual Per SF | $2.81 |
| Operating Expenses | |
|---|---|
| Annual | $42,328 |
| Annual Per SF | $3.11 |
| Total Expenses | |
|---|---|
| Annual | $80,489 |
| Annual Per SF | $5.92 |
| Net Operating Income | |
|---|---|
| Annual | $232,565 |
| Annual Per SF | $17.10 |
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Professional, Scientific, and Technical Services
- -
- -
- -
- -
American Title Solutions is a privately held title agency headquartered in Akron, Ohio, specializing in title and escrow services for residential real estate transactions, new construction, and refinancing. Founded in 2013, the company provides comprehensive solutions including title searches, settlement services, and compliance support for property transfers. It operates multiple offices across Ohio and has expanded through acquisitions, including Stonegate Title Agency in 2024. With a focus on accuracy and efficiency, American Title Solutions serves as a trusted partner for real estate professionals and homeowners navigating complex closing processes.
-
- Health Care and Social Assistance
- 3,071 SF
- -
- Triple Net
- Dec 2020
Apex Skin, formally known as Apex Dermatology & Skin Surgery Center, is a privately held dermatology practice founded in 2011. Headquartered in Westlake, Ohio, the organization specializes in medical, surgical, and aesthetic dermatology, including advanced treatments for skin cancer, acne, psoriasis, and cosmetic procedures. Apex Skin operates multiple locations across Northeast Ohio and emphasizes rapid access to care, offering same-day appointments for urgent dermatologic concerns. The practice is physician-owned and locally managed, with a team of board-certified dermatologists and specialists. Apex Skin has expanded its services to include clinical research initiatives aimed at improving access and diversity in dermatology trials. The company is recognized for its comprehensive approach to skin health and its commitment to integrating advanced technology and patient-centered care.
-
- Real Estate
- 8,197 SF
- -
- Triple Net
- Sep 2026
Keller Williams began in 1983 as a real estate company built around an agent-centric model and has grown into a franchise network with a broad U.S. and international presence. The company supports residential real estate transactions for buyers and sellers, along with rental search, agent search, franchising, and training programs. Keller Williams also emphasizes coaching, technology, and business development tools for real estate professionals. Keller Williams operates as a franchise company with independently owned and operated offices.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Professional, Scientific, and Technical Services | - | - | - | - | |
|
|
Health Care and Social Assistance | 3,071 SF | - | Triple Net | Dec 2020 | |
|
|
Real Estate | 8,197 SF | - | Triple Net | Sep 2026 |
Property Taxes
| Parcel Number | 952-18-007 | Total Assessment | $443,870 |
| Land Assessment | $126,245 | Annual Taxes | $38,161 ($2.83/SF) |
| Improvements Assessment | $317,625 | Tax Year | 2025 |
Property Taxes
Contact the Sale Advisor
32875 Solon Rd