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    6055 Parkland Blvd Mayfield Heights, OH

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    Flexible office space in a business park setting.

    Type:OFFICE
    Property size:
    35,547 SF
    Lot size:
    6.12 Acres
    Added:
    Nov 22, 2024
    Days on Market:
    523
    Last Refresh:
    Apr 5 at 9:32 pm

    Property Features for 6055 Parkland Blvd

    General Information

    Standard status
    Active
    Size
    35,547 SF
    Lot size
    6.12 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 6055 Parkland Blvd Contact us

    We can help!

    Listing Contact
    Steve Ross

    Listing agent Steve Ross

    Listing office CBRE | Cleveland

    Listing date Nov 22, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE | Cleveland

    Overview

    Class A Suburban Office Building

    The property at 6055 Parkland Blvd, Mayfield Heights, OH, offers 35,547 square feet of office space. This Class A suburban office building is situated in a business park-like setting and is surrounded by major corporate headquarters. It can serve as a headquarters solution or be demised into a multi-tenant configuration. The property features amenities and offers branding and visibility opportunities.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Dental Office Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mayfield Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.4579
    Latitude
    41.5192

    Nearby Similar for Lease

    • $22 SF/Yr

      Class A Suburban Office Building

      Flexible office space in a business park setting.
      6055 Parkland Boulevard, Mayfield Heights, OH, 44124
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    • $24 SF/Yr

      Landerbrook Corporate Center I Office

      Office space available for lease in Landerbrook Corporate Center.
      5900 Landerbrook Dr, Mayfield Heights, OH
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    • $16 SF/Yr

      Landerhaven Corporate Park Office Space

      Office space in a corporate park with many amenities.
      6085 Parkland Blvd, Mayfield Heights, OH
      View Details
    • $22 SF/Yr

      Office Space in Corporate Park

      Office space for rent in Mayfield Heights, Ohio.
      6060 Parkland Blvd, Mayfield Heights, OH
      View Details
    • $18 SF/Yr

      Class A Office Space Available

      Three-story Class A office building with multiple suite sizes.
      6120 Parkland Dr, Mayfield Heights, OH
      View Details
    • $24 SF/Yr

      Mayfield Heights Office Space Available

      Up to 113,000 SF office space for lease.
      5920 Landerbrook Dr, Mayfield Heights, OH
      View Details
    • Contact for pricing

      Office Space at Landerbrook Drive

      Office space available for rent at Landerbrook, Mayfield Heights.
      5800 Landerbrook Drive, Mayfield Heights, OH, 44124
      View Details
    • Contact for pricing

      Retail Space on Premier Corner

      1,750 SF retail space available 4/1/2026 on Mayfield Rd.
      6383-6431 Mayfield Rd, MAYFIELD HEIGHTS, OH
      View Details
    • Contact for pricing

      Anchored Shopping Center Retail Space

      Community shopping center with retail and automotive opportunities available.
      1641 Golden Gate Plz, Mayfield Heights, OH
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      Former Bank Branch For Lease

      2,478 SF former bank branch with ample parking.
      Mayfield Rd, Mayfield Heights, OH
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      Retail Space in High-Traffic Area

      Retail spaces available in a well-established, high-traffic retail corridor.
      5901 Mayfield Rd, Mayfield Heights, OH
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      Retail Space Near Cleveland Clinic

      Retail property in Mayfield Heights, close to Interstate 271.
      6600 Mayfield Rd, Mayfield Heights, OH
      View Details

    FAQs

    What type of property is this?
    Office building - Flexible office space in a business park setting.
    Where is this office building located?
    The property is located at 6055 Parkland Blvd Mayfield Heights, OH.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: Class A suburban office building suitable as HQ; Flexible options for single or multi‑tenant configuration; State‑of‑the‑art amenities and features
    (216) 363-6423 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Steve Ross
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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