FOR SALE

MULTI-TENANT OFFICE BUILDING INVESTMENT OPPORTUNITY


THE BRIDGE BUILDING
18500 LAKE ROAD

ROCKY RIVER, OHIO 44116

NEW EXCLUSIVE OFFERING


Trophy Suburban Office Property | Affluent Westside Cleveland Suburb | 8% CAP on Current NOI: $364,293 | 34,450 SF - 92% Occupied

 

 

*Principals Only -- Please note, there is no co-broke fee available on this listing, if buyer broker is utilized at buyer's request, any buyer’s broker representatives must be paid by buyers.

 

CBRE, Inc. has been retained by the Owner as the exclusive marketing advisor for The Bridge Building (the “Property”). This is a rare opportunity to acquire one of Cleveland’s most desirable and recognized suburban office properties in the affluent, lakeside community of Rocky River, Ohio. The consistent high demand for quality office space in Rocky River, especially on the Detroit Road corridor, makes this property a crown jewel of the marketplace, the current occupancy is at 92% with only one suite available in the building. The Property is located in Cleveland’s western submarket and offers unparalleled access to freeways, high-end residential housing, restaurants, and shopping. The Bridge Building consists of a Class A, five-story office building totaling 34,450 SF. This unique investment offers the real estate investor the opportunity to acquire a trophy asset that generates strong existing cash flows and an attractive return with the opportunity for further value creation through additional leasing management. Rocky River’s most prestigious and prominently located office building, an irreplaceable, trophy asset on the west side of Cleveland.

 

 

THE INVESTMENT OVERVIEW

Asking Price $4,553,660
Cap Rate    8.00%
Total Rentable (SF) 34,450
Total Useable (SF) 31,073
Year Built 1989
In Place Occupancy 92%
Market Rent $22.00 (FSG)
Typical Floor Plate (SF) 6,890
Core Factor: 10%
Elevators Two


FOR MORE
INFORMATION
PLEASE CONTACT:


Joseph W. Khouri 
First Vice President
+1 216 658 6120

joseph.khouri@cbre.com
 
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