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    3609 Park East Dr Beachwood, OH 44122

    Sponsored
    For Lease
    $25 SF/Yr

    Beachwood medical office space, abundant parking.

    Lot size:
    88,193 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Parkway Medical Center, a prime medical office building in Beachwood, Ohio, presents a unique investment opportunity. This two-building complex totals approximately 88,000 square feet of net rentable area, featuring 10,000-square-foot floor plates perfectly suited for smaller medical practices. Currently, there are multiple suites available, ranging from a minimum of 476 square feet to a maximum contiguous space of 1,617 square feet. The building boasts abundant surface parking, ensuring convenient access for patients and staff. Security is enhanced by a key card access system. Extensive renovations in 2004 included exterior improvements, a new roof and HVAC system, updated lighting, repaving of the parking lot, and a complete refresh of the first-floor common areas. This significant investment has resulted in a stabilized occupancy rate and strong tenant demand. The property's strategic location at Interstate 271 and Chagrin Boulevard provides easy access to major freeways, shopping, and restaurants, making it an ideal location for medical professionals. The five-story building was originally constructed in 1972.

    Property Features for 3609 Park East Dr

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    88,193 SF
    Total Rate
    183735.42

    Building Details

    Year Built/Renovated
    1972/2004
    Stories
    5

    Unit(s) available at that property

    Space
    112/116
    Size
    1,775 SF
    Rate per SF
    $25
    Space
    Suite 108 S
    Size
    818 SF
    Rate per SF
    $25
    Space
    Suite 104 N
    Size
    1,507 SF
    Rate per SF
    $25

    HighLights

    • 88,000 square feet of net rentable area in two connected buildings.
    • 10,000 square foot floor plates, easily divisible for smaller medical tenants.
    • Ample, convenient surface parking.
    • Secure key card access system.
    • Recently renovated (2004) with exterior improvements, new roof, HVAC, lighting, and parking lot; first‑floor common areas updated.
    • Attractive, updated building with stabilized occupancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Realty agency Restaurant Spa & Massage Hair Salon Building Supply Auto Repair Shop Law Firm Nail Salon Dental Office Wholesale Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Beachwood
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.4924524
    Latitude
    41.4620126

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    FAQs

    What type of property is this?
    Medical office - Beachwood medical office space, abundant parking.
    Where is this medical office located?
    The property is located at 3609 Park East Dr Beachwood, OH.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: 88,000 square feet of net rentable area in two connected buildings.; 10,000 square foot floor plates, easily divisible for smaller medical tenants.; Ample, convenient surface parking.
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    3609 Park East Dr Beachwood, OH 44122
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    Realmo Value Estimation

    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

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    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.

    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
    3609 Park East Dr Beachwood, OH 44122
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