Oak Tree Place
Price
Price on request
Price/Sq Ft
$17.00
Description
- •Office Space Available in Independence, OH BUILDING INFO:
- •A 4-story office building totaling 59,883 RSF
- •Office Suite 120 Available July 1st
- •Office Suite 150 Available November 1st
- •Lease rates starting at $17.00 RSF
- •Two passenger elevators.
- •350 parking spaces with a ratio of 5.8 per 1,000 SF tenant and guest parking spaces available.
- •High visibility building signage for a full floor tenant or greater. BUILDING AMENITIES:
- •New Market Cafe stocked with fresh prepared food from Aramark.
- •Three brand new conference rooms with new technology & furniture.
- •A new business lounge with flat screen TV, modern furniture, collaboration area, ping pong table & WiFi.
- •Renovated building lobby with new furniture.
Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.
Financial Details
Market Context
As of Q1 2026, the Cleveland retail market showed a 4.4% vacancy rate, average asking rents near $16.16/SF/yr, and cap rates around 8.7%. Source: www matthews com Q1 2026 market report.
Projected current pricing
low confidenceModeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 www matthews com data (cap rate 8.7%, asking rent held flat).
Tight vacancy keeps competition for quality space elevated.
Compare it against other retail listings for lease in Independence, OH to benchmark pricing and space — view the full market.
Retail market FAQ
- What is the typical cap rate for retail in Cleveland?
- About 8.7% as of Q1 2026, per www matthews com.
- Is the Cleveland retail market tightening or softening?
- Vacancy is around 4.4% (Q1 2026).
Unified Estimate
Medium ConfidenceRate-first confidence-weighted blend with cost-of-business adjustment.
Lease Rate & Market Trend
Market report quarterly trend fallbackFIPS 32003
- Avg Rent ($/SF/mo) (market data)
- Vacancy %
Investment Analysis
Beta Feature: Investment Analysis is currently in beta testing. Metrics are calculated based on available financial data and market comparables. Results are for informational purposes and should not be considered financial advice. Verify all assumptions and consult with a financial advisor before making investment decisions.
Market Employment Trend
December 2025 • Source: BLS QCEW
Economic Indicators
Source: FRED
Market Demographics
Census ACS 20242024 American Community Survey 5-Year Estimates •Released annually by U.S. Census Bureau
Rent vs. Market
$17
On par with market
Listed at $17.0/sqft/mo vs. market avg $17.00/sqft/mo
Assumptions
- Market comparison: retail in independence, OH
Documents
Contact Broker
Steve Ross
Robert Leibold
Listed by
CBRE System Import