6500 Pearl Road

Description

Court Appointed Receiver, Prodigy Properties, is pleased to present the opportunity to acquire 6500 Pearl Rd located in Parma Heights, OH. Parma Heights is considered a submarket of Cleveland and is only 8 miles southwest of downtown Cleveland. Constructed in 1965 this intriguing value-add office building features two stories plus a lower level and more than 61,000 SF of ideal space for medical and/or professional office uses. The new owner will benefit from an immediate rent base with significant upside potential by addressing deferred maintenance, increasing rents, extending existing MTM tenants, and lease-up of vacancy. Property will be sold free and clear of all liens, with property taxes prorated and paid off to the day of closing. Receiver may, in its sole discretion, accept or reject any bid or offer for any reason, at any time, without notice. No representations, warranties, or guarantees. Bidding is scheduled to conclude on 08/24/2022 at 2pm ET. A 10% Buyers Premium is added to the high successful bid to determine the final purchase price. Immediately following the conclusion of the bidding, the high successful bidder must wire transfer a 10% deposit of the final purchase price net of the $25,000 participation deposit.