Office

Post Office Plaza

post office plaza, cleveland, OH 44113

Price

Price on request

Price/Sq Ft

$19.00

Description

Up to 200,000 SF of Premier Office Space Available for Lease Post Office Plaza at 1500 W 3rd Street offers premier office space within a vibrant mixed-use district full of conveniences at Town City Center and Public Square. This five-story, 455,000-square-foot building boasts efficient floor plates, high ceilings, and a historic lobby accentuated by a beautiful, bright atrium, allowing abundant natural light flooding from the skylights. Once the city's central post office, this namesake property now provides a bustling, professional environment for a wide range of office users. A variety of spaces ranging in square footage are available, including move-in-ready suites and full-floor opportunities, delivering panoramic views of the flats, river, and downtown. Tenants enjoy the wealth of on-site and walkable amenities at Post Office Plaza. The property features a covered walkway to the Gateway District and its arenas, a fitness center, and ample parking with options from reserved deck parking to nearby surface lots. Post Office Plaza is part of Town City Center, home to a plethora of restaurants, shops, hotels, bars, and entertainment, including Mixed Greens, Dunkin', The Silver Grille, Morton's Steakhouse, and the adjacent Ritz Carlton, all within walking distance from the property. Public Square is a park-like, walkable neighborhood in the heart of Downtown Cleveland. The area is anchored by the namesake park, Cleveland Public Square, an urban plaza featuring various community events, public art, food trucks, a splash pad, and more. Post Office Plaza is situated for seamless commutes via direct access to light rail (RTA), connecting to airports and suburbs, and a nearby connection to Interstate 90. With desirable amenities and unmatched connectivity, Post Office Plaza presents a premier office destination.

Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.

Location

post office plaza, cleveland, OH 44113

Leaflet © OpenStreetMap contributors

Financial Details

Lease TypeModified Gross

Market Context

As of Q1 2026, the Cleveland office market showed a 26.9% vacancy rate, and average asking rents near $20.28/SF/yr. Source: multiple brokerages Q1 2026 market report.

Projected current pricing

high confidence

Projected asking rent

$20.28/SF/yr

Estimated sale value

$86–$112/SF

Modeled 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 multiple brokerages data (cap rate 8.6%, asking rent held flat).

View the full Cleveland Office market report →

Above-average vacancy gives tenants leverage and a wide set of comparables.

Compare it against other office listings for lease in Cleveland, OH to benchmark pricing and space — view the full market.

Office market FAQ

Is the Cleveland office market tightening or softening?: Vacancy is around 26.9% (Q1 2026).

Unified Estimate

High Confidence

$14.45/SF/mo-$16.95/SF/mo

Mid: $14.74/SF/mo

Rate-first confidence-weighted blend with cost-of-business adjustment.

Lease Rate & Market Trend

Market report quarterly trend fallback

Low Confidence

Avg Rent ($/SF/mo) (market data)
Vacancy %

Market asking rent (quarterly avg)Vacancy rate (right axis)

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.

Insufficient financial data for full analysis. Add more financial fields to improve metric coverage.