Stabilized Medical Office Building For Sale

Highlights:

• SIGNIFICANT CAPITAL IMPROVEMENTS: Over the last five years, ownership has installed a new TPO roof with 20-year warranty as well as Solar Panels, providing new ownership with reduced heating and cooling loads by 20% and annual estimated savings over $12,000 per year.
• STRONG TENANT MIX: The asset is comprised of local, regional and national healthcare tenants providing a synergistic mix of complementary tenants.
• LARGE PARCEL: The asset sits on ±3.20 AC, providing ample parking (185+ Spots) and long term viability to continue to operate at full capacity as a strong medical facility.
• DOUBLE DIGIT CAP RATE: The property is being offered for sale at an in place 10% cap rate, providing an investor with a double digit return potential day one.
• TURN KEY ASSET: Ownership has spent in excess of a million dollars in renovations to create a premier health care asset. New ownership will benefit from the significant capital expenditures and improvements made to the property that will continue to drive value and retain tenancy.

Description:

Matthews Real Estate Investment Services is pleased to exclusively offer for sale 11201 Shaker Boulevard – a premier, recently renovated health care asset in the heart of the east side of Cleveland. With proximity to the Cleveland Clinic Main Campus, Case Western Reserve University, Benedictine Highschool, Shaker Square and many other attractions, the asset is well positioned to continue to drive traffic and remain a strong asset long term.

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