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6500 Rockside Rd
Independence, OH 44131
Metro Center · Office Property For Sale
Executive Summary
Owner-user opportunity with up to 6,283 square feet of contiguous, third-floor space available immediately with a conceptual plan in place. It has a compelling value basis at $100.03 per square foot, which is well below replacement cost, and provides strong in-place income with third-floor upside. The strong in-place income features a current NOI of $429,816 (7.68% cap) and a proforma NOI of $524,611 (9.37% cap) at stabilization. There is a diversified tenant base consisting of 12 tenants across medical, legal, engineering, and professional services, resulting in no concentration risk. The strategic location is in the Rockside Road corridor, offering direct I-77 and I-480 access within Cleveland’s most active suburban submarket. Finally, it features recession-resistant tenants, including multiple healthcare providers such as Rockside Spine, Lifestance, LVC, and Cleveland Men’s Health.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
55,799 SF
Building Class
B
Year Built
1988
Percent Leased
68%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
13,950 SF
Slab To Slab
9’
Building FAR
0.39
Lot Size
3.28 AC
Zoning
C-1
Parking
200 Spaces (3.58 Spaces per 1,000 SF Leased)
Amenities
- Conferencing Facility
- Monument Signage
Property Taxes
| Parcel Number | 562-17-025 | Improvements Assessment | $1,189,580 |
| Land Assessment | $299,565 | Total Assessment | $1,489,145 |
Property Taxes
Parcel Number
562-17-025
Land Assessment
$299,565
Improvements Assessment
$1,189,580
Total Assessment
$1,489,145
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