21100 SOUTHGATE PARK BLVD Maple Heights OH 44137-3004

Marcus & Millichap is pleased to present 21100 South Park Blvd, Maple Heights, Ohio. Southgate Medical Arts Buildings I–III is a five-story, Class B office complex situated on 3.6 acres, offering 291 parking spaces. The property is 81.35% occupied, allowing for upside. The building is occupied by a diverse tenant mix, including education, healthcare and government services. Ohio College Preparatory School, a charter school, leases 46.6% of the building under a gross lease with rental escalations. There are 219 students attending grades K-8. The student-teacher ratio is 12 to 1.

Founded in 2014, the school is a long-term tenant. Signature Health, a behavioral health provider, leases 29.6% of the space under a triple-net lease structure with scheduled rental increases and one 1-year renewal option. Signature Health also holds a right-of-first refusal. The facility provides primary care, addiction recovery, mental health services, as well as a pharmacy and a laboratory. Signature Health employs over 100 staff members at this facility. They have also recently invested over $1 million in tenant improvements.

Juvenile Court Probation occupies 5.2% of the building under a gross lease structure. The lease is backed by Cuyahoga County with a Fitch Ratings of AA+. Located along Southgate Park Boulevard, the property benefits from strong local traffic and exc ellent vis ibility. The boulevard intersects key roads such as Northfield Road, Sunnyslope Road, and Warrensville Center Road, and offers multiple points of ingress and egress. The site provides quick connectivity to major highways, including I-480 and the I-271 interchange, making it highly accessible. The surrounding Maple Heights area is a southeastern suburb of Cleveland, characterized by a mix of commercial uses, including offices, retail centers, and medical services.

Nearby amenities include Home Depot, Foreman Mills, Giant Eagle, Advance Auto Parts, and Sub City, enhancing the convenience for tenants and visitors alike.

Triple-Net and Gross Lease Structures

• Rental Increases

• Renewal Options

• Value-Add Opportunity

• Excellent Access to Freeway

• Ample Parking

• Regional Shopping

The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 100% fee simple interest in Commerce I & II, an 85% occupied medical/office building. The property is being offered for $4,870,000 with upside potential through the lease-up of the remaining vacant units. Given the property’s position in an extremely economically developed area and recent extended leases, an investor has the opportunity to purchase an investment that is set for success. The asset has been well-maintained with recent upgrades and improvements, including new roof (2017), new elevator and upgraded plumbing and electrical systems. The property also boasts prominent signage, along with on-site surface parking for the employees and guests.

Located in the Maple Heights office/retail district, the 96,262 S.F. asset is home to tenants that have found an ideal location being located in the office and industrial corridor with direct access to load of amenities with shopping and restaurants. With Signature Health relocating to the building in 2017 for the larger facility to offer more programs and services, the tenant executed and original 10-year lease taking them out to 2027. The complex’s anchor tenant, Ohio College Preparatory School has space in both buildings and is leased to 2030 creating excellent stability to the rent roll. Rounding out the rent roll, the Cuyahoga County Juvenile Probation Office extended their lease to 2027 proving their commitment to the property. The office building is ideal as it caters to tenants with its highly desirable and short distance from a host of nearby amenities, including multiple complimentary retailers/ restaurants, including: Home Depot, Giant Eagle, Dunkin’, AALDI, Save-a-Lot and many, many more. Another major attribute for tenants is the desirable location positioned between heavy traveled roadways. Traffic counts surrounding the property are 69,200 VPD and the property is positioned just minutes to I-480 with over 147,000 VPD and connects to I-271 with over 140,000 VPD.

Commerce I & II is located in a high barrier to entry location and the area boasts a strong residential community with average household incomes of over $76,000 and a population density of over 180,000 people within 5-miles of the property. The asset is in an economically developed area, which is why the school system is the city’s largest employer. The Board of Education navigates nearly 3,800 students in 5 schools in the district and has over 400 employees. Additionally, Sherwood Food Industries has a 350,000 S.F. distribution center, while the Liberty Auto Group has been in operation in Northeastern Ohio for over 40 years. Beginning with a single store in Maple Heights, Ohio, the organization now consists of six locations employing over500 proud Clevelanders. R. L. Lipton Distributing Co. has been providing Northeast Ohio with top-quality beer, ale and non-alcoholic products for over 40 years and has been a staple to Maple Heights community. Signature Health (located in Commerce II) makes the list of Maple Heights top employers and provides healthcare to the city and the surrounding suburbs. The trade area offers retailers and steady high volumes of traffic in the corridor, making this asset a destination point for all the surrounding communities. With the strategic placement, recent upgrades, quality tenants and proximity to employees and residents, the asset is positioned to not only thrive well into the future but also offer an investor a rare value-add opportunity today.

Founded in 1915, the City of Maple Heights is one of Cleveland’s oldest suburbs. Growing dramatically post-World War II, the city developed major commercial hubs and thousands of single- and multi-family housing units. Today, the city maintains much of that character in its significant post-War bungalow housing stock, major commercial hubs, and industrial employer base. With easy access to Interstates 480, 271, and 77, along with being only 18 miles from Cleveland Hopkins International Airport, the property is located in a position to serve Maple Heights and the surrounding communities.

The city features a robust parks system with over 40 acres of active and passive parks, Cleveland Metroparks, and close proximity to the Cuyahoga Valley National Park. Throughout the summer, the parks are full of life, including the city-sponsored Music in the Park which features some of the best in local live music. In Summer 2020, the city welcomed the first bike lanes on Dunham Road, providing bike access to the National Park. Plans for more bike lanes are underway for the city and its growing needs.

Maple Heights offers residents major employment hubs in the city, along with only being a 20-minute drive to surrounding hubs, which include: Downtown Cleveland, University Circle, Independence, Mayfield Heights, and Solon. Maple Heights’ largest employer is the Board of Education as it navigates nearly 3,800 students in 5 schools in the district and has over 400 employees. The Maple Heights distribution center for Sherwood Food Industries has 350,000 S.F. and the company currently ships over 20 million pounds of food products weekly on a fleet of over 250 trucks through a network of distribution centers in Atlanta, Maple Heights (Cleveland), Detroit (HQ), Miami, and Orlando. Liberty Auto Group has been in operation in Northeastern Ohio for over 40 years. Beginning with a single store in Maple Heights, Ohio, the organization now consists of six locations employing over 500 proud Clevelanders. R. L. Lipton Distributing Co. has been providing Northeast Ohio with top-quality beer, ale and non-alcoholic products for over 40 years and has been a staple to Maple Heights. Rounding out the top 5 employers in Maple Heights is Signature Health, located in Commerce II. The Signature Health team has been serving Northeast Ohio for over 25 years and treats Primary Care, Mental Health, Addiction Recovery and Infectious Disease. Signature Health relocated to Maple Heights from Garfield Heights in 2017 and the location is its largest facility with state-of-the-art equipment, extended hours and offers a wide variety of services.

Being located as a suburb of Cleveland, many people also commute for work and pleasure. The region boasts many headquarter locations for major corporations such as the world-renowned Cleveland Clinic, University Hospitals, American Greetings, Eaton Corp., Sherwin-Williams, KeyBank, Progressive Insurance, First Energy, TRW, Goodyear, RPM International, Diebold, Parker-Hannifin, A.Schulman, Timken, J.Smuckers, Nestle, Cliffs Natural Resources and Travel Centers of America. Additionally, Cleveland is home to main operating facilities for NASA, Glenn Research Center, and Jones Day. Furthermore, the property is within just a few short minutes to Cleveland’s Downtown area, which includes: The Gateway Complex, consisting of Progressive Field and Rocket Mortgage Fieldhouse, and near North Coast Harbor, including: The Rock and Roll Hall of Fame, First Energy Stadium, and the Great Lakes Science Center.

• Major price reduction: 85% occupied, medical/office building positioned in major business district with direct access to loads of amenities

• Solid tenancy with recent extensions showing success and dedication to the location: Signature Health relocated from nearby Garfield Heights in 2017 for the larger facility to expand program options and services

• Attractive 10.15% CAP rate and low $42/S.F. price point with significant upside through lease-up of remaining vacancy

• Long-Term, diverse mix of medical and office users, including: Ohio College Preparatory School leased to 2030 providing high-quality education to students K-Grade 8, Cuyahoga County Juvenile Court Probation Department in process of extension through 2027 and Signature Health also leased through 2027 providing medical care to patients across Northeast Ohio

• Extremely visible on main thoroughfare with plentiful on-site surface parking for employees and guests

• Ideal demographics with over 180,000 people and average household incomes over $76,000 within a 5-mile radius

• Desirable suburban community with short commute (12 miles) to Downtown Cleveland and 18 miles to Cleveland Hopkins International Airport

• Dense suburban market for office, retail and other commercial properties: Positioned between major roadways with combined traffic counts of 69,200 VPD surrounding the property and convenient highway access to I-480 (147,115 VPD), connecting to I-271 (140,280 VPD)

• Abundance of neighboring amenities: Direct vicinity of other complimentary medical offices, banks and office users, while also having access to Maple Height’s retail market, including Home Depot, Giant Eagle, Dunkin’, Save-a-Lot, ALDI, Jimmy John’s and many, many more

• Surrounded by major employers: Maple Heights’ largest employer, the Board of Education navigates 3,800 students in 5 schools with over 400 employees, Sherwood Food Industries operates a 350,000 S.F. distribution center, Liberty Auto Group (0.5 Miles) employs over 500 across their brand, and R. L. Lipton Distributing Co., a staples to the Maple Heights market