Marcus & Millichap closed the sale of a 34,658-square-foot medical office property in Dover, Ohio. The property sold for $3,539,000.
Ryan Moore, Christopher Mitchel and Billy Skoch, investment specialists in Marcus & Millichap’s Cleveland office, had the exclusive listing to market the property on behalf of the seller, an Ohio-based private investor.
The 10-suite medical office building is situated on 5.12 acres at 340 Oxford St. Built in 2001, the facility is leased to nationally recognized healthcare providers, including OrthoUnited, Trinity Hospital, Retina Associates of Cleveland and Aultman Hospital. The property is located one mile from Cleveland Clinic Union Hospital, a 154-bed facility generating more than $329 million in annual patient revenue. OrthoUnited, the anchor tenant, recently reinvested more than $1.5 million into its 27.7% share of the building.
