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
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 |
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PROPERTY TAXES
Parcel Number | 661-11-101 | Improvements Assessment | $7,466,620 |
Land Assessment | $602,245 | Total Assessment | $8,068,865 |
ZONING
Zoning Code | Public Facilities |