Reserve Price $1 | 29,035 SF | 4 Story Medical/Professional Value-Add Office Building

Description:

Ri Marketplace Online Auction October 27th-29th, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2703/reserve-price-1-29-035-sf-4-story-medical-professional-value-add-office-building?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=office_2703

CBRE and Marcus & Millichap in conjunction with RealInsight Marketplace, are pleased to offer for sale, a 29,035 square foot, 4 story Medical/Professional office building located in the Cleveland, Ohio MSA.

Located conveniently along Northfield Road in Bedford Heights, OH less than 5 minutes to I-480 and I-27I provides easy access to greater Cleveland’s eastside suburbs. Approximately 15 miles (20 minutes) southeast of downtown Cleveland and 18 miles (20 minutes) east of Cleveland Hopkins International Airport.

THE HANCOCK CENTER is 28% occupied with (8) tenants and encompasses approximately 1.14 acres with ample parking with 78 spaces. The building has numerous signage opportunities for tenants and is surrounded by several restaurants, retail, and service businesses.

The property has been meticulously maintained and modernized highlighted by the following capital improvements:

Electrical Panel Replacement (2024)
Roof Replacement (November 2023)
Rear Parking Lot (2022)
Backup Chiller (2020)
Boiler System Upgrade (2019)

Located across from Southgate Shopping Center, one of the first large shopping centers in the country. Prominent retailers including Home Depot, Giant Eagle grocers, Forman Mills, Family Dollar, O’Reilly Auto Parts, Rent-A-Center, and many others. Located minutes from University Hospitals Bedford Medical Center, and within close proximity to Bedford Automile, one of the Midwest’s largest concentrations of automotive dealerships.

The Hancock Center provides Investors an excellent potential for income growth, capital appreciation, and long-term stability with significant upside potential through lease-up, with many costly capital improvements recently completed. New ownership will be well-positioned to focus on revenue drivers and value creation while still benefiting from the existing tenant occupancy.


Thomas Seaman
Auctioneer
License: 2007000016
The platform fee for this transaction is the greater of 5.00% or a minimum of $20,000.

Documents: