Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$32,960,000
Medical Office Space
5001 Rockside Rd Independence, OH 44131-2172
Individually Owned
27-yr Hold
Free & Clear
Property ID
US66-1799856
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1999
Total area
226,182 SF
Lot
4.75 ac (207,071 SF)
Zoning code
U-5-HR
APN
561-20-005
UPID
US66-1799856
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$34.58M
Comparable Approach
Comparable
$37.29M
Blend (final)
Blend
$32.96M
Owner & transaction history
Cleveland Clinic Foundation · 27 yrs held
Cleveland Clinic Foundation
since 1998
3 recorded transactions
Zoning & alternative use
U-5-HR · Independence, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this zone is to promote office building high-rise uses
Zone name
Office Building High Rise
General category
UNKNOWN
Zone area
85.54 ac
Source
Realmo
Top alternative use upside
Restaurant
$38.2M
+55.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Independence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Independence submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$37,455,000
6.5%
$34,575,000
7%
$32,105,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$24,575,000
Current use
RESTAURANT
$38,150,000
Change: +55% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$22,910,000
Change: -7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$20,125,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$32.96M
Range $29.66M – $36.26M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$146 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,150
Tax year 2023
Assessed value
$13,617,780
Assessed 2023
Previous assessed
$13,617,780
+0.0% YoY
Effective rate
0.01%
On assessed value
Assessed land
$507,330
Assessed improvement
$13,110,450
Land market value
$1,449,500
Improvement market value
$37,458,400
Total market value
$38,907,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
8
Total area
226,182 SF
Lot
4.75 ac (207,071 SF)
Zoning code
U-5-HR
APN
561-20-005
UPID
US66-1799856
Jurisdiction
CUYAHOGA
Zoning & alternative use
U-5-HR · Independence, OHZoning U-5-HR · permitted uses
U-5-HR · Independence, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this zone is to promote office building high-rise uses
Zone name
Office Building High Rise
General category
UNKNOWN
Zone area
85.54 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$24.6M
RESTAURANT
Est. value
$38.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$22.9M
AUTO REPAIR, GARAGE
Est. value
$20.1M
MEDICAL BUILDING Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Heating
FORCED AIR
Cooling
Yes
Stories
8
Buildings
2
Lot
4.75 ac
Current owner
From public records · entity-resolved
Cleveland Clinic Foundation
Individual
Free & Clear · 27 yrs held
Mailing address
5001 ROCKSIDE RD, INDEPENDENCE, OH 44131-2172
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 1998
$3,535,000
Cleveland Clinic Foundation
Rockside 77 Properties Ltd
Trustees Deed
—
Sep 10, 1998
—
Andrew Service Corp
Cleveland Clinic Foundation
Trustees Deed
related
—
Jul 16, 1998
$35,000
Rockside-77 Properties LP
Independence City (oh)
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 5001 Rockside Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
