Brecksville Land For
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10909 Chippewa Rd, Brecksville, OH 44141
1.78-acre site suitable for office development in Brecksville, OH.
Property Size5,100 SF
Lot Size1.78 Acres
Price / SF$132.35
Days on Market197
Property Features for 10909 Chippewa Rd
General Information
Standard status
Active
Size
5,100 SF
Lot size
1.78 Acres
Property subtype
Office, Land
Listing Agency:
Hanna Commercial Real Estate Cleveland
(216) 214-1197
Listed By:
David Mrachko · License #SAL.2012003123
Source:
Crexi
Added: Feb 2
Changed: Aug 8
Last Checked: Aug 17 at 4:21PM
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 Hanna Commercial Real Estate Cleveland
Investment Insights
Based on property information with market context.
This 1.78-acre site is available for sale in Brecksville, Ohio. Zoned for office use, the corner location on State Route 82 offers potential for development of up to 10,000 square feet of office space. The property is conveniently located near Interstates 77, 80, and 271. The site is close to downtown Brecksville and local parks. The owner is open to a build-to-suit arrangement. Brecksville is noted as a premier sub-market with a history of consistent appreciation.
Key Highlights
- Convenient location between I‑77, I‑80, and I‑271
- Potential for up to 10,000 SF office development
- 1.78‑acre site in Brecksville, OH
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
$54,754
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
8.11%
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%
$1,095,080
$1.1M
Cap Rate 7%
$782,200
$782.2K
Cap Rate 9%
$608,378
$608.4K
Market Conditions
NOI Build-Up for 5,100 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
$96.7K $18.96/SF
− Vacancy
−$23.7K −$4.65/SF
EGI
$73.0K $14.31/SF
− OpEx
−$18.3K −$3.58/SF
NOI
$54.8K $10.74/SF
Area
Cuyahoga County, OH
Vacancy
24.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,095,080
Cap Rate 7%
$782,200
Cap Rate 9%
$608,378
Alternative Uses
Best Use
Office B
$782.2K
$684.4K – $912.6K
NOI $54,754 @ 7.0% cap · market cap 8.11%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.09M
$3.58M – $4.77M
NOI $286,044 @ 7.0% cap · market cap 42.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Explore this area
Business Placement
Demographics for 44141, OH
14,130
Population
5,998
Households
2.4
Avg Household Size
48
Median Age
58%
College-Educated
98%
High-School Grad
24.2 sq mi
ZIP Area
584
Density / Sq Mi
$127,347
Median Household Income
$70,838
Median Earnings
$1,448
Median Rent
$360,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 1.78-acre site suitable for office development in Brecksville, OH.
Where is this commercial land located?
The property is located at 10909 Chippewa Rd Brecksville, OH.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Convenient location between I‑77, I‑80, and I‑271; Potential for up to 10,000 SF office development; 1.78‑acre site in Brecksville, OH
