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Rare Partially Leased Investment Opportunity 1365 Kelso Drive, Kent, OH 44240
Availability:
for sale
Property Type:
Office
Year Built:
2007
Land Size:
1.61 Ac
Price:
$1,100,000
Price per Acre/SF:
$683,230 /
$15.68
Zoning:
Town Center
Cody Sinclair
cody@gerspachergroup.com
(330) 722-5002
Troy Gerspacher, CCIM, SIOR
troy@gerspachergroup.com
(330) 722-5002
Property Description
This rare freestanding two-unit, 6,144 SF office building sits on 1.61 acres and is partially leased to the Cleveland Clinic, making it ideal for an owner-occupier. The property offers 2,544 SF of space available for lease or owner use. The Cleveland Clinic lease runs through December 31, 2026, with two additional two-year renewal options extending through December 31, 2032, and includes a 120-day termination right. The existing lease generates $54,000 in annual rent, with the tenant covering 59% of taxes, insurance, and common area costs, and also includes a first right of refusal on the adjacent available space.
Area Description
Located at the Route 43 and I-76 interchange in Kent, at the corner of Kelso Drive and Falcon Drive, the property offers excellent access and visibility. The Route 43 exit serves Kent State University, making this a highly accessible and well-positioned location.
Highlights
- Available: 6,144 SF
- Suite 1: ±3,624 SF - office space (currently leased to the Cleveland Clinic)
- Gross Annual Rental Income: $54,000
- Suite 2: ±2,519 SF - unfinished office space
- Frontage: ±220'
- Depth: ±289'
- Signage at the street
- Parking: ±62 spaces
- Zoning: TC (Town Center)
- Highway Access: 0.4 miles from SR-75
- Annual Real Estate Taxes: $16,452.56
Full Address: 1365 Kelso Drive, Kent, OH 44240
Listing Type: FOR SALE
Status: Active
Zoning: Town Center
Region: M-EN
Property ID: 4097891
Roof: 19
Parcel Num: 04-032-00-00-054-005
Number Units: 1
Year Built: 2007
Features