Industrial Flex
For Sale
Contact for pricing
10090 QUEENS WAY, Chagrin Falls, OH 44023
Industrial flex building for sale featuring 21,639 SF built in 1998.
Property Size21,639 SF
Price / SF$73.71
Days on Market63
Property Features for 10090 QUEENS WAY
General Information
Standard status
Active
Size
21,639 SF
Class
A
Total Parking Spaces
20
Property subtype
Industrial, Mixed Use
Occupancy
100%
Lease Type
Modified Gross
Building Details
Year Built
1998
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Coakley Real Estate
Listed By:
Francis (Sandy) Coakley · License #OH2004018373
Source:
Crexi
Added: Jul 7
Changed: Aug 14
Last Checked: Sep 7 at 7:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coakley Real Estate
Investment Insights
Based on property information with market context.
This industrial flex building offers a total of 21,639 square feet, constructed in 1998. The property is listed for sale and is suitable for industrial and flex-style occupancy based on its stated classification.
The address is 10090 Queens Way in Chagrin Falls, OH.
As currently presented, the primary provided details are the building’s industrial flex designation, total square footage, and the 10/02/1998 build date.
The address is 10090 Queens Way in Chagrin Falls, OH.
As currently presented, the primary provided details are the building’s industrial flex designation, total square footage, and the 10/02/1998 build date.
Key Highlights
- Industrial flex building for sale
- 21,639 SF building size
- Built in 1998
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$133,832
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,676,640
$2.7M
Cap Rate 7%
$1,911,886
$1.9M
Cap Rate 9%
$1,487,022
$1.5M
Market Conditions
NOI Build-Up for 21,639 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$205.1K $9.48/SF
− Vacancy
−$13.9K −$0.64/SF
EGI
$191.2K $8.84/SF
− OpEx
−$57.4K −$2.65/SF
NOI
$133.8K $6.18/SF
Area
Geauga County, OH
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,676,640
Cap Rate 7%
$1,911,886
Cap Rate 9%
$1,487,022
Alternative Uses
Best Use
Industrial
$1.91M
$1.67M – $2.23M
NOI $133,832 @ 7.0% cap · market cap 8.39%
Second Best
Flex RnD
$1.17M
$1.02M – $1.37M
NOI $81,941 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$4.36M
$3.81M – $5.09M
NOI $305,106 @ 7.0% cap · market cap 19.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44023, OH
19,075
Population
7,679
Households
2.5
Avg Household Size
50
Median Age
57%
College-Educated
99%
High-School Grad
51.6 sq mi
ZIP Area
370
Density / Sq Mi
$130,452
Median Household Income
$59,853
Median Earnings
$2,396
Median Rent
$421,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex building for sale featuring 21,639 SF built in 1998.
Where is this flex space located?
The property is located at 10090 QUEENS WAY Chagrin Falls, OH.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Industrial flex building for sale; 21,639 SF building size; Built in 1998
