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    3690 Orange Pl Orange, OH 44122

    Sponsored
    For Sale
    $13,000,000

    Prime Beachwood location, high NOI, value-add potential.

    Property size:
    128,729 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional five-story, 128,729 square foot Class B medical office building in Beachwood, Ohio presents a compelling investment opportunity. Located at 3690 Orange Place, this stabilized property boasts an 85% occupancy rate and a strong NOI of $1,115,465, with a pro-forma NOI of $1,225,000. The asking price is $13,000,000, representing a current cap rate of 8.58% and a pro-forma cap rate of 9.42%. Built in 1974 and extensively renovated in 2021, the building features a striking central glass atrium, ample surface parking (414 spaces), and a 150-car underground garage. The property sits on a 4.731-acre lot and benefits from excellent visibility and access to I-271. The diverse tenant mix includes 27 medical and professional service practices. Recent capital improvements include three new elevators, a new roof, parking garage stabilization, and common area upgrades. Significant value-add potential exists through lease-up of vacant units and potential conversion of existing space. The property's location near Pinecrest, a major mixed-use development, further enhances its appeal. Zoned for commercial use, this asset offers a compelling combination of strong current performance and future upside in a highly desirable suburban market. The property's APN is 742-28-008

    Property Features for 3690 Orange Pl

    General Information

    Property type
    Medical offices
    Square Feet
    128,729 SF
    Class
    B
    Lot Size
    206,082 SF

    Building Details

    Year Built/Renovated
    1974/2021
    Buildings
    1
    Stories
    5

    HighLights

    • 129,000 SF medical office building in Beachwood, OH.
    • 88% occupancy.
    • 70/30 tenant mix of medical and professional services.
    • 150‑car underground parking garage.
    • Major renovations within the last five years, including new elevators, roof, lobby, restrooms, and LED lighting.
    • 414 surface parking spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Restaurant Realty agency Building Supply Wholesale Shop Auto Repair Shop Spa & Massage Dental Office Hair Salon Auto Parts Store Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Orange
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.488179082109
    Latitude
    41.460164288319

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    FAQs

    What type of property is this?
    Medical office - Prime Beachwood location, high NOI, value-add potential.
    Where is this medical office located?
    The property is located at 3690 Orange Pl Orange, OH.
    What is the asking price?
    The asking price for this property is $13,000,000.
    What are key features of this property?
    This property features: 129,000 SF medical office building in Beachwood, OH.; 88% occupancy.; 70/30 tenant mix of medical and professional services.
    Request Owner's contact information
    3690 Orange Pl Orange, 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

    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.

    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
    3690 Orange Pl Orange, OH 44122
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