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Commercial Real Estate for Sale at 2651 W Market Street in Fairlawn, OH for $2,395,000

Listing data last changed 06/30/2026 - 6:22pm
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2651 W Market Street | Fairlawn

$2,395,000 | 0.0 Sq. Ft.

The Cleveland Clinic \u0026 Pioneer Physicians Medical Center is a two-tenant medical office building located in Fairlawn, Ohio. This 14,596\r\nsquare foot property is 100% occupied and anchored by Cleveland Clinic\u0027s urology and surgery center, which has been at this location for over 25 years. The building is strategically positioned in the heart of the Fairlawn retail corridor with excellent visibility on West Market Street, which sees 18,602 vehicles per day. The property features strong investment fundamentals including a weighted average lease term (WALT) of 5.59 years, an 8.12% current cap rate, and an 8.49% cap rate effective April 2027. Below market rents with both tenants having recently exercised their last remaining lease options early, demonstrating strong commitment to the site and huge upside potential to increase the ROI upon the lease expirations. Cleveland Clinic holds an Aa2 credit rating from Moody\u0027s, designating it as investment-grade credit. The location benefits from strong demographics with $100,000\u002B household income and over 100,000 population within a 5-mile radius. The property is positioned less than 2 miles from Route 77 and 1.2 miles from Summit Mall, providing excellent regional accessibility. The building features poured concrete and steel construction with low maintenance requirements and major CapEx investments completed in the last 10 years. MLSNow 5223047 Directions to property: Exit Ghent Rd, Left on W Market St

MLS Listing ID: 
MLSNow 5223047
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$2,395,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Office
Primary Market Area: 
Fairlawn
Address: 
2651 W Market Street, Fairlawn, OH 44333
County: 
Summit
Latitude: 
41.1239930
Longitude: 
-81.5995640
Directions: 
Exit Ghent Rd, Left on W Market St
Public Remarks: 
The Cleveland Clinic \u0026 Pioneer Physicians Medical Center is a two-tenant medical office building located in Fairlawn, Ohio. This 14,596\r\nsquare foot property is 100% occupied and anchored by Cleveland Clinic\u0027s urology and surgery center, which has been at this location for over 25 years. The building is strategically positioned in the heart of the Fairlawn retail corridor with excellent visibility on West Market Street, which sees 18,602 vehicles per day. The property features strong investment fundamentals including a weighted average lease term (WALT) of 5.59 years, an 8.12% current cap rate, and an 8.49% cap rate effective April 2027. Below market rents with both tenants having recently exercised their last remaining lease options early, demonstrating strong commitment to the site and huge upside potential to increase the ROI upon the lease expirations. Cleveland Clinic holds an Aa2 credit rating from Moody\u0027s, designating it as investment-grade credit. The location benefits from strong demographics with $100,000\u002B household income and over 100,000 population within a 5-mile radius. The property is positioned less than 2 miles from Route 77 and 1.2 miles from Summit Mall, providing excellent regional accessibility. The building features poured concrete and steel construction with low maintenance requirements and major CapEx investments completed in the last 10 years.
Community Information
School District: 
Copley-Fairlawn CSD - 7703
Subdivision: 
Suburban Acres
Building Details
Details about the building on a property.
Stories: 
2
Year Built: 
1984
Living Area: 
0.0
Basement: 
Full,Finished,Concrete
Construction
Foundation Details: 
Basement
Roof: 
Asphalt,Fiberglass,Flat,Membrane,Rubber
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
0
Total Full-Bathrooms: 
0
Total Half-Bathrooms: 
0
Total One-Quarter-Bathrooms: 
0
Total Three-Quarter-Bathrooms: 
0
Utilities
Information about utilities available on the property.
Heating System: 
Forced Air,Gas
Cooling System: 
Central Air
Water Source: 
Public
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
1.35
Lot Size (Area): 
1.35
Lot Features
Parking Type: 
Parking Lot
Fence: 
Partial
Public Record
Parcel Number: 
0902546
Annual Tax: 
$22,470.00
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Disclosures: 
Owner Is Listing Agent
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Office Name: 
Century 21 Homestar

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