Southgate Medical Arts — Sale in Maple Heights, OH

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Maple Heights, OH 44137
  • Year built: 1960

Investment Figures

Cap rate
9.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present 21100 South Park Blvd, Maple Heights, Ohio. Southgate Medical Arts Buildings I–III is a five-story, Class B office complex situated on 3.6 acres, offering 291 parking spaces. The property is 81.35% occupied, allowing for upside. The building is occupied by a diverse tenant mix, including education, healthcare and government services. Ohio College Preparatory School, a charter school, leases 46.6% of the building under a gross lease with rental escalations. There are 219 students attending grades K-8. The student-teacher ratio is 12 to 1. Founded in 2014, the school is a long-term tenant. Signature Health, a behavioral health provider, leases 29.6 percent of the space under a triple-net lease structure with scheduled rental increases and one one-year renewal option. Signature Health also holds a right-of-first refusal. The facility provides primary care, addiction recovery, mental health services, as well as a pharmacy and a laboratory. Signature Health employs over 100 staff members at this facility. They have also recently invested over $1 million in tenant improvements. Juvenile Court Probation occupies 5.2 percent of the building under a gross lease structure. The lease is backed by Cuyahoga County with a Fitch Ratings of AA+. Located along Southgate Park Boulevard, the property benefits from strong local traffic and excellent visibility. The boulevard intersects key roads such as Northfield Road, Sunnyslope Road, and Warrensville Center Road, and offers multiple points of ingress and egress. The site provides quick connectivity to major highways, including I-480 and the I-271 interchange, making it highly accessible. The surrounding Maple Heights area is a southeastern suburb of Cleveland, characterized by a mix of commercial uses, including offices, retail centers, and medical services. Nearby amenities include Home Depot, Foreman Mills, Giant Eagle, Advance Auto Parts, and Sub City, enhancing the convenience for tenants

Market Context

This office in Maple Heights, OH is listed for sale. It is offered at an approximate 9.0% capitalization rate, a key benchmark for income-producing office assets. The building dates to 1960. It has been on the market for 100 days. Compare it against other office listings for sale in Maple Heights, OH — view the full market.

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