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Property profile & analytics
FOR LEASE
Medical Office Space
6701 Rockside Rd Independence, OH 44131
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US66-2278094
For Lease
1 / 8
$8,440,000
6701 Rockside Rd, Independence, OH 44131
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1979
Total area
57,912 SF
Lot
4.64 ac (202,118 SF)
Zoning code
U-5
APN
561-26-012
UPID
US66-2278094
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
$8.86M
Comparable Approach
Comparable
$9.55M
Blend (final)
Blend
$8.44M
Owner & transaction history
Chct Ohio LLC · 10 yrs held
Chct Ohio LLC
since 2016
7 recorded transactions
Zoning & alternative use
U-5 · Independence, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this zone is to promote office building and research laboratory uses
Zone name
Office Building And Research Laboratory District
General category
UNKNOWN
Zone area
446.80 ac
Source
Realmo
Top alternative use upside
Restaurant
$9.8M
+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%
$9,590,000
6.5%
$8,855,000
7%
$8,220,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$6,295,000
Current use
RESTAURANT
$9,770,000
Change: +55% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,865,000
Change: -7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,150,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$8.44M
Range $7.60M – $9.28M · ±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
$226,777
Tax year 2023
Assessed value
$3,622,510
Assessed 2023
Previous assessed
$3,622,510
+0.0% YoY
Effective rate
6.26%
On assessed value
Assessed land
$424,450
Assessed improvement
$3,198,060
Land market value
$1,212,700
Improvement market value
$9,137,300
Total market value
$10,350,000
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
For Lease
Year built
1979
Heating
HOT WATER
Cooling
CENTRAL
Buildings
2
Stories
3
Total area
57,912 SF
Lot
4.64 ac (202,118 SF)
Zoning code
U-5
APN
561-26-012
UPID
US66-2278094
Jurisdiction
CUYAHOGA
Zoning & alternative use
U-5 · Independence, OHZoning U-5 · permitted uses
U-5 · 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 and research laboratory uses
Zone name
Office Building And Research Laboratory District
General category
UNKNOWN
Zone area
446.80 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$6.3M
RESTAURANT
Est. value
$9.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.9M
AUTO REPAIR, GARAGE
Est. value
$5.2M
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
1979
Heating
HOT WATER
Cooling
Yes
Stories
3
Buildings
2
Lot
4.64 ac
Current owner
From public records · entity-resolved
Chct Ohio LLC
Entity
Mailing address
14400 METCALF AVE, OVERLAND PARK, KS 66223-2989
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2016
$10,350,000
Chct Ohio LLC
Patrick Dennison SR Family LP
Warranty Deed
—
Apr 21, 2016
—
Chct Ohio LLC
Dennison Sally Trust
Grant Deed
related
—
Dec 16, 2015
—
Patrick Dennison SR Family LP
Dennison Dev Group LLC
Quit Claim Deed
related
—
Jan 26, 2004
—
Independence City (oh)
Dennison Development Group LLC
Grant Deed
related
—
—
—
Dennison Dev Group LLC
—
Deed Of Trust
related
$200,000 · Dollar Bk
—
—
Dennison Dev Group LLC
—
Deed Of Trust
related
$200,000 · Dollar Bank Fsb
—
—
Dennison Development Group LLC
—
Deed Of Trust
related
$420,000 · Lorain National Bank
—
—
Dennison Dev Group LLC
—
Deed Of Trust
related
$3,925,000 · Dollar Bank Fsb
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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