Summit 2
Price
Price on request
Price/Sq Ft
$19.50
Description
34,047 SF of Office Space Available in Independence, OH Summit Office Park offers amenities to all tenants including conference rooms, amphitheater, fitness center and cafeteria with eat-in/take-out service.
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 office market showed a 26.9% vacancy rate, and average asking rents near $20.28/SF/yr. Source: multiple brokerages Q1 2026 market report.
Projected current pricing
high confidenceModeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 multiple brokerages data (cap rate 8.6%, asking rent held flat).
Above-average vacancy gives tenants leverage and a wide set of comparables.
Compare it against other office listings for lease in Independence, OH to benchmark pricing and space — view the full market.
Office market FAQ
- Is the Cleveland office market tightening or softening?
- Vacancy is around 26.9% (Q1 2026).
Unified Estimate
High ConfidenceRate-first confidence-weighted blend with cost-of-business adjustment.
Lease Rate & Market Trend
Market report quarterly trend fallbackFIPS 32003
- Avg Rent ($/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
$19.5
7.0% above market average
Listed at $19.5/sqft/mo vs. market avg $18.23/sqft/mo
Assumptions
- Market comparison: office in independence, OH
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