Chagrin Commerce Bldg | 24300 Chagrin Blvd
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Chagrin Commerce Bldg 24300 Chagrin Blvd
25,282 SF 96% Leased Office Building Beachwood, OH 44122 $2,300,000 ($91/SF) 9% Cap Rate
Executive Summary
Introducing 24300 Chagrin Blvd., a prime 25,282 SF office building that stands as a prestigious investment opportunity in Beachwood. This timeless property offers an ideal blend of style and functionality, with efficient floor plates that are ideal for small to mid-sized office and medical tenants. 24300 Chagrin is home to 6 dental practices totaling 48% of the total lease-able area of the building. Each of these practices represents a significant investment in the building by the tenant. Including all medical/allied-medical
practices, the building boasts 70% medical tenancy, the majority have called 24300 Chagrin home for 10+ years. The strategic location is a proven winner offering excellent visibility and accessibility in a thriving business district, ensuring lasting appeal for tenants and investors. This 95% occupied building represents a compelling opportunity for those seeking a valuable addition to their commercial real estate portfolio.
practices, the building boasts 70% medical tenancy, the majority have called 24300 Chagrin home for 10+ years. The strategic location is a proven winner offering excellent visibility and accessibility in a thriving business district, ensuring lasting appeal for tenants and investors. This 95% occupied building represents a compelling opportunity for those seeking a valuable addition to their commercial real estate portfolio.
Financial Summary (Pro forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$449,387
|
$12.57
|
| Other Income |
$21,015
|
$0.59
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$470,402
|
$13.15
|
| Taxes |
$53,572
|
$1.50
|
| Operating Expenses |
$209,837
|
$5.87
|
| Total Expenses |
$263,409
|
$7.37
|
| Net Operating Income |
$206,993
|
$5.79
|
Financial Summary (Pro forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $449,387 |
| Annual Per SF | $12.57 |
| Other Income | |
|---|---|
| Annual | $21,015 |
| Annual Per SF | $0.59 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $470,402 |
| Annual Per SF | $13.15 |
| Taxes | |
|---|---|
| Annual | $53,572 |
| Annual Per SF | $1.50 |
| Operating Expenses | |
|---|---|
| Annual | $209,837 |
| Annual Per SF | $5.87 |
| Total Expenses | |
|---|---|
| Annual | $263,409 |
| Annual Per SF | $7.37 |
| Net Operating Income | |
|---|---|
| Annual | $206,993 |
| Annual Per SF | $5.79 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
25,282 SF
Building Class
C
Year Built
1971
Price
$2,300,000
Price Per SF
$91
Cap Rate
9%
NOI
$207,000
Percent Leased
96%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
8,427 SF
Slab To Slab
9’
Building FAR
0.53
Lot Size
1.10 AC
Zoning
U-7A
Parking
114 Spaces (4.51 Spaces per 1,000 SF Leased)
Amenities
- Storage Space
- Monument Signage
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
| Space | Size | Space Use | Condition | Available |
| 3rd Fl-Ste 317 | 442 SF | Office | - | Now |
3rd Fl-Ste 317
| Size |
| 442 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
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3rd Fl-Ste 317
| Size | 442 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
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PROPERTY TAXES
| Parcel Number | 742-25-013 | Total Assessment | $666,470 (2023) |
| Land Assessment | $174,720 (2023) | Annual Taxes | $53,572 ($2.12/SF) |
| Improvements Assessment | $491,750 (2023) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
742-25-013
Land Assessment
$174,720 (2023)
Improvements Assessment
$491,750 (2023)
Total Assessment
$666,470 (2023)
Annual Taxes
$53,572 ($2.12/SF)
Tax Year
2025
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Chagrin Commerce Bldg | 24300 Chagrin Blvd
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