27100 Chardon Rd - Richmond Medical Center

186,676 SF Health Care Building Offered For Sale in Cleveland, OH 44143

INVESTMENT HIGHLIGHTS

  • Meticulously maintained and updated full-service hospital.
  • Full kitchen and cafeteria.
  • Substantial capital improvements as recent as 2021 including but not limited to the installation of new boilers, chillers, and water heaters.
  • Ambulatory surgery capabilities and suites in place for all radiology modalities.

EXECUTIVE SUMMARY

Richmond Medical Center is a modernized, impeccably maintained and versatile in-patient healthcare facility available for purchase. The property was recently vacated in August 2022 after more than six decades of service to the residents of Richmond Heights and other established east-side Cleveland suburbs such as Highland Heights, Mayfield, and Willoughby Hills. The facility is located in a stabilized east suburban market in Cuyahoga County, outside of downtown Cleveland, and is located within a qualified Opportunity Zone. University Hospitals Health System has operated the facility, and will retain the outpatient medical office building directly across the street. The facility sits on almost 17 acres of land, which includes ± 9 acres of developable land beyond the hospital itself. The property is well-positioned for an in-patient or specialty healthcare provider – built out with ER, imaging, med-surg rooms, behavioral health patient rooms, ICU, cafeteria, kitchen and pharmacy (new in 2020).
The property is zoned for “Public Facilities” and the city of Richmond Heights is eager to support a revitalized use of the property.
Purchase price is subject to discussion

PROPERTY FACTS Under Contract

Sale Type Investment or Owner User
Sale Condition High Vacancy Property
Property Type Health Care
Property Subtype Hospital
Building Class C
Lot Size 16.90 AC
Building Size 186,676 SF
No. Beds 73
No. Stories 4
Year Built/Renovated 1960/2021
Tenancy Single
Parking Ratio 2.54/1,000 SF
Opportunity Zone Yes

PROPERTY TAXES

ZONING

Zoning Code Public Facilities
  • Listing ID: 27452155

  • Date on Market: 1/6/2023

  • Last Updated:

  • Address: 27100 Chardon Rd, Cleveland, OH 44143