6001 Euclid AveCleveland, OH 44103

For Sale
$16,000,000

Class A Office, High Occupancy, Strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
91
This exceptional investment opportunity presents a fully stabilized, Class A office portfolio totaling 90,383 square feet, strategically located in Cleveland's thriving Midtown neighborhood along the Health-Tech Corridor. The portfolio comprises two buildings: the modern Link59, a 61,000 square foot facility constructed in 2018, and the renovated Phoenix Building, a historically significant structure transformed into contemporary office space in 2018. Both buildings feature premium finishes and expansive glass lines. Link59 boasts a diverse tenant mix including MCPC, Cleveland Speech and Hearing, OHM Advisors, Starting Point, and Growth Opportunity Partners, while the Phoenix Building is anchored by Eagle Foods. The portfolio benefits from a shared surface parking lot with 197 spaces and enjoys a remarkable 94% occupancy rate, generating a strong Net Operating Income (NOI) of $1,349,366. All leases are NNN with corporate guarantees and significant remaining lease terms. The property sits on a 3.12-acre lot and is priced at $16,000,000, representing an attractive 8.43% capitalization rate. This represents a core investment in a rapidly growing area with significant organic expansion. The portfolio offers a compelling combination of modern amenities, historical charm, and strong financial performance. The buildings are three stories each, offering a total of 90,383 net rentable square feet, priced at $177.02 per square foot.

Highlights

  • 90,383 SF Class A office portfolio in Cleveland, OH MSA.
  • Two properties with shared surface parking.
  • Link 59 (2018 construction) and Phoenix Building (2018 gut renovation).
  • 94% occupancy with a strong tenant mix and anchor tenant.
  • Long-term leases with numerous years remaining.
  • Triple Net (NNN) leases.

Property Details for 6001 Euclid Ave

Property type
Other office properties, Medical offices
Square Feet
90,383 SF
Class
A
Year Built/Renovated
2018/2018
Buildings
2
Stories
3
Lot Size (sq. ft)
135,907 SF

Location Insight

City
Cleveland
County
Cuyahoga
State
Ohio
Latitude
41.5048061
Longitude
-81.6486306
6001 Euclid Ave, Cleveland, Ohio

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6001 Euclid Ave
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