Parma, Ohio, a city located on the southern edge of Cleveland, offers a unique opportunity for investors to capitalize on the growing demand for office properties. With a strong focus on safety and a growing economy, Parma has become an attractive location for businesses and entrepreneurs alike. Office properties in Parma represent a diverse range of investments, from small, single-tenant buildings to larger, multi-tenant complexes. These properties can serve as a hub for various industries, including healthcare, technology, and finance, making them an attractive option for investors looking to diversify their portfolios. Parma's amenities, such as the University Hospitals Parma Medical Center and West Creek Reservation, provide a high quality of life for employees and residents, while its infrastructure, including major roads like West 130th Street and Ridge Road, ensures easy access to the city and surrounding areas. The city's education system, including the Parma City School District and institutions like Bryant & Stratton College, also contributes to its appeal as a business location. With its rich history, diverse economy, and excellent amenities, Parma is an excellent choice for businesses and investors looking to establish a presence in the region.
Currently, there are 4 office properties for sale in Parma, offering a range of options for investors. The average price per square foot for these properties is $90 USD, with an average size of 27,331 square feet. The largest property available is 38,700 square feet. In addition to office properties, Parma also offers a range of other commercial real estate options, including commercial buildings, apartment buildings, shopping centers, and hotels. Commercial real estate in Parma can be found along major roads like Ridge Road and West 130th Street, providing excellent visibility and access to the city. Apartment buildings in Parma offer a range of options for residents, from affordable housing to luxury apartments. Shopping centers, such as The Shoppes at Parma, provide a hub for retail and dining, while hotels, like the Hampton Inn & Suites, offer convenient accommodations for business travelers. With its diverse range of commercial real estate options, Parma is an excellent choice for businesses and investors looking to establish a presence in the region.
What is the average price per square foot for office properties in Parma?
The average price per square foot for office properties in Parma is $90 USD per square foot, with an average size of 27,331 square feet and a largest size of 38,700 square feet among the 4 available listings.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Parma, it's essential to understand the classification system, which categorizes properties based on their quality, amenities, and location, to make an informed decision.
- Class A office properties are typically high-rise buildings with modern amenities, prime locations, and high-quality finishes, attracting top-tier tenants and commanding the highest rents.
- Class B office properties offer functional space with standard amenities, often located in decent areas, and are suitable for a wide range of businesses, providing a balance between quality and affordability.
- Class C office properties are generally older, less amenitized, and located in less desirable areas, appealing to budget-conscious tenants or those requiring minimal amenities.
