27100 Chagrin Blvd
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27100 Chagrin Blvd
24,632 SF 100% Leased Retail Building Beachwood, OH 44122 $8,143,000 ($331/SF) 7% Cap Rate
Investment Highlights
- 100% Occupied 25,684 sf NNN Retail Center
- Performing Tenant Mix with Strong Sales, Prompting Long Term Commitment
- A+ Real Estate Fundamentals Supporting Long Term Tenant Success
- Annual Rent Increases providing NOI Compound Annual Growth Rate of 2.38% over a 10 Year hold period
Executive Summary
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 Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Dealership
Building Size
24,632 SF
Building Class
C
Year Built/Renovated
1979/2014
Price
$8,143,000
Price Per SF
$331
Cap Rate
7%
NOI
$569,949
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Land Acres
2.73 AC
Zoning
U-7
Frontage
93 FT on Chagrin Blvd
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 901-01-004 | Improvements Assessment | $507,255 |
| Land Assessment | $857,815 | Total Assessment | $1,365,070 |
PROPERTY TAXES
Parcel Number
901-01-004
Land Assessment
$857,815
Improvements Assessment
$507,255
Total Assessment
$1,365,070
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Alex Van Krevel -
Passov Real Estate Group
(614) 754-1008
x123
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27100 Chagrin Blvd
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