27100 Chagrin Blvd, Beachwood, OH 44122
24,632 SF | 100% Leased | Retail Building | Beachwood, OH 44122 | $8,143,000 ($331/SF) | 7% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $8,143,000
- Property Type
-
Retail
- Square Feet
- 24,632 SF
- Price / Square Foot
- $331
Listing Contacts
Alex Van Krevel
Verified Profile
- Property Info
Property Overview
100% Occupied 25,684 sf NNN Retail Center. A+ Real Estate Fundamentals Supporting Long Term Tenant Success. Insulated location directly off of I-271 which sees 171,807 vehicles per day. Irreplaceable real estate positioned on a heavily trafficked signalized intersection at exit 29 & Chagrin Blvd combining for 36,773 vehicles per day. Densely populated & highly affluent market with over 190k
residents within 5-miles and $200k Household Income within 1-mile. 1.7% submarket vacancy (general retail) and strength of real estate
promotes long term Retailer demand for the subject location. Performing Tenant Mix with Strong Sales, Prompting Long Term Commitment. This is Choolaah’s flagship store and by far their top performer out of 6 locations; Choolaah has been operating at the subject location since 2015 and signed a fresh 10 year extension in December 2023. LJI Collision is a highly successful single-unit Auto Repair & Restoration operator with strong, consistently growing sales. They have been operating at the subject location since 2010 and recently extended for 5 years in April 2023. Annual Rent Increases providing NOI Compound Annual Growth Rate of 2.38% over a 10 Year hold period.
residents within 5-miles and $200k Household Income within 1-mile. 1.7% submarket vacancy (general retail) and strength of real estate
promotes long term Retailer demand for the subject location. Performing Tenant Mix with Strong Sales, Prompting Long Term Commitment. This is Choolaah’s flagship store and by far their top performer out of 6 locations; Choolaah has been operating at the subject location since 2015 and signed a fresh 10 year extension in December 2023. LJI Collision is a highly successful single-unit Auto Repair & Restoration operator with strong, consistently growing sales. They have been operating at the subject location since 2010 and recently extended for 5 years in April 2023. Annual Rent Increases providing NOI Compound Annual Growth Rate of 2.38% over a 10 Year hold period.
Property Details
- Class
- C
- Year Built/Renovated
- 1979/2014
- Stories
- 1
- Property Subtype
- Vehicle Related
- Lot Size (sq. ft)
- 118,919 SF
Highlights
- 100% Occupied 25,684 sf NNN Retail Center
- A+ Real Estate Fundamentals Supporting Long Term Tenant Success
- Performing Tenant Mix with Strong Sales, Prompting Long Term Commitment
- Annual Rent Increases providing NOI Compound Annual Growth Rate of 2.38% over a 10 Year hold period
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