3609 Park East Dr Beachwood, OH 44122
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.