Centrally Located Value-Add Medical Office | 17535 Rosbough Dr
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Centrally Located Value-Add Medical Office 17535 Rosbough Dr
39,228 SF 19% Leased Office Building Online Auction Sale Middleburg Heights, OH 44130
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Investment Highlights
- Centrally located, the Corporate Center of Middleburg Heights is a value-add two-story, 39,228-SF office on a 2.14-acre lot 15 miles from Cleveland.
- Currently 19% occupied, it offers significant upside for investors and users through strategic lease-up with in-place income.
- Near Southwest General Health Center, hotels, and national retailers such as Chipotle, Five Guys, and Aldi, the property is in an amenity-rich area.
- Situated in the heart of Middleburg Heights’ commercial corridor, the asset is near major highways, public transit options, and a dense population.
- Conveniently located near I-71, I-80, and I-480, the asset offers an easy commute throughout the region and Cleveland Hopkins International Airport.
- Middleburg Heights features low vacancy rates, rising rental rates, and a growing workforce, making it an ideal location for business growth.
Executive Summary
17535 Rosbough Drive, the Corporate Center of Middleburg Heights, is a two-story, 39,228-square-foot office building on a 2.14-acre lot. Currently 19% occupied, this property provides an incredible value-add opportunity for investors or users through strategic lease-up. The second floor is partially leased to established medical office tenants, including Hudec Dental Orthodontics, Union Dental, and Revolution Wellness. Hudec Dental, a trusted name in family dentistry for over 40 years, joins Union Dental and Revolution Wellness, a multidisciplinary behavioral health practice, to offer a strong tenant base with income in place. The property boasts attractive features, including pylon signage, ample parking, a two-story atrium with natural light, conference rooms, and an elevator. Its location within Middleburg Heights’ established commercial corridor makes it an ideal site for future tenants.
Corporate Center of Middleburg Heights benefits from a prime location with excellent infrastructure and access to major highways, including Interstate 71, Interstate 80 (Ohio Turnpike), and Interstate 480, making it a convenient hub for businesses and commuters. Within a 5-mile radius, the area has a dense population of approximately 180,000 and a growing job market with an 8.33% growth rate since 2014. Nearby amenities include Southwest General Health Center, Cleveland Clinic Middleburg Heights Family Health Center, and national retailers such as Aldi, Chipotle, and Five Guys. Easy access to Bagley Road’s RTA transit line, hotels like Hampton Inn and Sonesta Suites, and an 8-minute drive to Cleveland Hopkins International Airport further enhance the appeal for tenants and their patrons.
Middleburg Heights, Ohio, is a thriving suburban community 15 miles southeast of downtown Cleveland. Known for its historic charm and suburban amenities, it features vibrant retail centers, diverse dining options, and access to Cleveland Metroparks via the Valley Parkway Trail. The Southwest submarket boasts low vacancy rates and rising rental rates, highlighting strong market fundamentals. With its central location, excellent transportation access, and business-friendly policies, Middleburg Heights is truly The Middle of Everything. 17535 Rosbough Drive is a rare opportunity to acquire a well-positioned office asset in a dynamic market primed for growth.
Corporate Center of Middleburg Heights benefits from a prime location with excellent infrastructure and access to major highways, including Interstate 71, Interstate 80 (Ohio Turnpike), and Interstate 480, making it a convenient hub for businesses and commuters. Within a 5-mile radius, the area has a dense population of approximately 180,000 and a growing job market with an 8.33% growth rate since 2014. Nearby amenities include Southwest General Health Center, Cleveland Clinic Middleburg Heights Family Health Center, and national retailers such as Aldi, Chipotle, and Five Guys. Easy access to Bagley Road’s RTA transit line, hotels like Hampton Inn and Sonesta Suites, and an 8-minute drive to Cleveland Hopkins International Airport further enhance the appeal for tenants and their patrons.
Middleburg Heights, Ohio, is a thriving suburban community 15 miles southeast of downtown Cleveland. Known for its historic charm and suburban amenities, it features vibrant retail centers, diverse dining options, and access to Cleveland Metroparks via the Valley Parkway Trail. The Southwest submarket boasts low vacancy rates and rising rental rates, highlighting strong market fundamentals. With its central location, excellent transportation access, and business-friendly policies, Middleburg Heights is truly The Middle of Everything. 17535 Rosbough Drive is a rare opportunity to acquire a well-positioned office asset in a dynamic market primed for growth.
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- Operating and Financials
- Purchase Agreement
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per SF
Cleveland - OH USA
Market Cap Rate
Cleveland - OH USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Office
Property Subtype
Medical
Building Size
39,228 SF
Building Class
C
Year Built/Renovated
1976/2010
Percent Leased
19%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
19,614 SF
Building FAR
0.42
Lot Size
2.14 AC
Zoning
Commercial
Parking
163 Spaces (4.69 Spaces per 1,000 SF Leased)
Amenities
- Monument Signage
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 2nd Floor
- 1,000-10,000 SF
- Office
- -
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 4,000-18,000 SF | Office | - | Now |
| 2nd Floor | 1,000-10,000 SF | Office | - | Now |
1st Floor
| Size |
| 4,000-18,000 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
2nd Floor
| Size |
| 1,000-10,000 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
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1st Floor
| Size | 4,000-18,000 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
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DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
4,342
63,816
179,136
2020 Population
4,659
67,730
188,119
2029 Population
4,203
61,917
174,321
2024-2029 Projected Population Growth
-3.2%
-3.0%
-2.7%
Daytime Employees
11,671
40,420
109,048
Total Businesses
1,045
3,830
9,034
Average Household Income
$84,444
$81,363
$81,077
Median Household Income
$71,872
$66,779
$65,067
Total Consumer Spending
$58.5M
$791.8M
$2.2B
Median Age
50.0
43.8
43.7
2024 Households
1,993
27,197
78,195
Percent College Degree or Above
19%
17%
18%
Average Home Value
$172,985
$188,005
$195,292
zoning
| Zoning Code | Commercial |
| Commercial |
PROPERTY TAXES
| Parcel Number | 371-22-004 | Improvements Assessment | $328,160 |
| Land Assessment | $241,820 | Total Assessment | $569,980 |
PROPERTY TAXES
Parcel Number
371-22-004
Land Assessment
$241,820
Improvements Assessment
$328,160
Total Assessment
$569,980
Sale Advisors
Sale Advisors
Jonathan Elson, Senior Manager
(330) 701-1989
Contact
For over a decade, Jonathan Elson has been advising occupiers and owners of commercial real estate. Jon’s responsibilities at Allegro include management of industrial and office tenant and buyer representation services and management of residual property listings for corporate clients. Jonathan is recognized for his analytical evaluation of each transaction and interest in developing long-term relationships with his clients. This approach has resulted in the successful representation of local and multi-market clients in nearly $600 million of transaction volume.
Jonathan’s real estate career began in South Florida with a focus on industrial and office properties. He was selected to assist in the opening of his prior firm’s Cleveland office in 2015.
Prior to his career in commercial real estate, Jonathan worked for the Columbus Crew of Major League Soccer.
Jonathan’s real estate career began in South Florida with a focus on industrial and office properties. He was selected to assist in the opening of his prior firm’s Cleveland office in 2015.
Prior to his career in commercial real estate, Jonathan worked for the Columbus Crew of Major League Soccer.
Tyler Gilliam, Senior Associate
(216) 331-7184
Contact
Tyler joined Allegro in 2022. He represents clients with leasing and buying office and industrial properties, coordinates the sale of commercial real estate nationwide, and advises organizations on their real estate portfolio management. Prior to Allegro, Tyler was a Brokerage Associate with Marcus & Millichap.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Mary Humphreys
Contact
Auctioneer License:
Ten-X Commercial, LLC Samantha Corbat RE Brkr REC.2019003563; Ohio Department of Agriculture- Auctioneer Program: Ten-X Commercial, Inc. (Ten-X, Inc.) Auctioneer Corporation 2022000147 Samantha Corbat Auctioneer 2023000126
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VIDEOS
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PHOTOS
STREET VIEW
STREET
MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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