4450 Cranwood Pkwy Cleveland, OH 44128-4004

Property Details for 4450 Cranwood Pkwy

Lot size

1.90 lot acres

Zone code

U-6

Property type

Office buildings

APN

762-05-001

APU

76205001

Description

This exceptional investment opportunity presents a fee-simple interest in a two-building portfolio totaling 42,677 square feet, located in Warrensville Heights, Ohio, a Cleveland suburb. The property comprises a mission-critical 30,877 square foot testing laboratory and an 11,800 square foot research and development laboratory. The larger building is leased to NSL Analytical Services under a newly executed 10-year absolute NNN lease (expiring November 30, 2033) with 3.5% annual rent increases. NSL, a long-term tenant (over 40 years), provides material testing services to over 1,700 manufacturing companies in the Cleveland area. The property has undergone extensive renovations tailored to the tenant's specific needs. The second building is subleased to Centerline Biomedical, a medical imaging technology company, which recently occupied the space in late August 2024. This building houses their research and development labs, warehouse, and administrative offices. The property benefits from a prime location within a large manufacturing hub, offering a "sticky" tenant profile and substantially below replacement cost. Built in 1980 and 1985, with renovations completed in 2006, 2019, and 2024, this portfolio offers a stable, high-occupancy investment with significant long-term potential. The property is currently 100% occupied. Further lease details are available upon request. Assumable debt may be available.

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Longitude

-81.5503

Latitude

41.4387

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments