Mayfield Heights Office for Sale - Lyndhurst/Landerhaven
• LOCATION, LOCATION, LOCATION! Unbelievable Opportunity for Class “A” Value-Add Professional Building at Far Below Replacement Cost
• Irreplaceable Real Estate with Tremendous Upside (Current Occupancy at 33%) or Value-Add Investment
• Perfect Opportunity for Owner-User Headquarter Location
• Stabilized 15.28% CAP Rate and Whopping 40% Year-1 Projected Cash-on-Cash Return Based on Asking Price (95% Occupancy), Generating an Estimated $933,642 Increase to NOI
• Signalized Corner Location at Entrance to Well-Known Landerhaven Corporate Center with Excellent Exposure Along Lander Road and Directly Across From Parker-Hannifin’s Global Headquarters (61,000 Company-Wide Employees)
• Strong Current Tenancy Offering In-Place Income from Recent NNN Lease Extension with Howard Hanna (Top Residential Real Estate Company Nationally)
• Ideal Contiguous Layout Conducive to Mixed Uses with Two Identical Wings Connected by a Large Diagonally Oriented Glass Atrium - One Wing of the Building Extends to the South (Lander) While the Other Extends to the East (Parkland)
• High-End Building Amenities with Significant Tenant Improvements, Beautifully Landscaped Grounds, Ample Surface Parking on Oversized Lot Perfect for High Parking Demand Businesses, Multiple Interior Upgrades and Attractive Commercial Kitchen in Vacant Unit
• Located Amongst Some of the Highest Concentration of Office Occupancy Rates in the Greater Cleveland Marketplace: Surrounded by Parker-Hannifin Global Headquarters, Progressive Corp., Rockwell Automation (2,000 On-Site Employees), Nesco, ParkOhio, Vibrantz, & Ferro
• One of the Most Desirable and Sought Out Suburban Markets in Northern Ohio for Office, Retail and Other Commercial Properties with Close Proximity to I-271 (137,000+ VPD)
• Just 2 Miles from Cleveland Clinic’s Hillcrest Hospital with Approx. 500 Beds and Over 10,000 Employees, Serving the East Side of Cleveland
• Extremely High Visibility Along Lander Road with Excellent Curb Appeal, Prominent Monument Signage, and Easy Access with Convenient Highway Access to I-271 From Cedar Road and Mayfield Road
• Strong, Affluent Market with Average Household Incomes of Over $146,000 Within 5-Miles with State-Rated “Excellent” and Top-Rated Mayfield Exempted Village School District
• Major Complimentary Nearby National Retailers: Eastgate Shopping Center, Golden Gate Plaza, Newer Construction Pinecrest Lifestyle Center, Eton Lifestyle Center, Legacy Village, Pavilion, Village Square, Harvard Park and Beachwood Place Mall, Along with Numerous Fitness Centers, Hotels and Restaurants
• Numerous Other Nearby Major Employers: University Hospital’s Ahuja Medical Center (2,500 Employees and $200 Million Recent Expansion), Cleveland Clinic (83,000 Employees), Eaton Corporation HQ (2,000 Employees), Bank of America, Cuyahoga Community College, Site Centers Corp. HQ and ABB Inc. (500 Employees)
• Desirable Suburban Community with Short Commute (14.5 Miles) to Downtown Cleveland with Immediate Proximity to Several Colleges/Universities and Numerous Other High-Profile Companies and Only 25 Miles to Cleveland Hopkins International Airport
