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    Class A Office Building Opportunity Title is generated by Realmo AI

    6105 Parkland Blvd., Mayfield Heights, OH 44124

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    Two-story office building in Cleveland's strong suburban office market.

    Type:Office
    Property size:
    50,000 SF
    Added:
    Nov 26, 2025
    Days on Market:
    181
    Last Refresh:
    May 8 at 10:27 pm

    Property Features for 6105 Parkland Blvd.

    General Information

    Standard status
    Active
    Size
    50,000 SF
    Property subtype
    Office

    Building Details

    Year Built
    2007

    We can help!

    Listing Contact
    Abram Schwarz, SIOR

    Listing agent Abram Schwarz, SIOR

    Listing office Lee & Associates | Cleveland

    Listing date Nov 26, 2025

    Source Lee-associates

    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 Lee & Associates | Cleveland

    HighLights

    • Class A office building in Cleveland's desirable East submarket (Landerhaven/Landerbrook).
    • High occupancy rate of 92.4% with a weighted average lease term of over 7 years.
    • Excellent location: less than 4 minutes from I‑271 and near Beachwood Place and Cleveland Clinic Beachwood Campus.
    • Ample parking with a ratio of over 4.5 spaces per 1,000 SF.
    • Located within the established Landerhaven Office Park, a 1.7 million square foot office complex.
    • Potential for increased income due to recently reset rents with new leases.

    Overview

    The Elk & Elk Building is a two-story Class A office building located in the Landerhaven/Landerbrook submarket, one of Cleveland's strongest suburban office markets. Constructed in 2007 as part of the Landerhaven Office Park, a 1.7 million square foot office complex comprising 17 buildings, the property is situated just three minutes from the Interstate 271 exit at Brainard/Cedar, near Beachwood Place, Legacy Village, Cleveland Clinic Beachwood Campus, and Acacia Reservation. The building offers a parking ratio of over 4.5 spaces per 1,000 SF and a covered portico at the rear entrance. The first floor provides multiple space plan design options, while the second floor features a corporate headquarters-type space. The property is 92.4% leased with a weighted average lease term of over 7 years and 3 months as of May 2021. With three newly completed leases, the building has reestablished itself in the submarket by resetting rents, creating potential income upside for a long-term investor. Located less than 4 minutes from the I-271 Exit and Brainard/Cedar, this Class A opportunity sits in Landerhaven Corporate Center.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Map

    City
    Mayfield Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.466
    Latitude
    41.5003

    Nearby Similar for Sale

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    • Contact for pricing
      100 SF

      Class A Office Space Available

      Professional office space in owner-occupied building, convenient location.
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    FAQs

    What type of property is this?
    Office building - Two-story office building in Cleveland's strong suburban office market.
    Where is this office building located?
    The property is located at 6105 Parkland Blvd. Mayfield Heights, OH.
    What are key features of this property?
    This property features: Class A office building in Cleveland's desirable East submarket (Landerhaven/Landerbrook).; High occupancy rate of 92.4% with a weighted average lease term of over 7 years.; **Excellent location: less than 4 minutes from I‑271** and near Beachwood Place and Cleveland Clinic Beachwood Campus.
    (216) 470-7555
    We can help!
    Listing Contact
    Abram Schwarz, SIOR
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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.

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