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    16400-16500 Chagrin Blvd Cleveland, OH 44120

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    For Sale
    $4,000,000

    52,506 SF mixed-use property in Shaker Heights, Ohio.

    Property size:
    52,506 SF

    Property Features for 16400-16500 Chagrin Blvd

    General Information

    Size
    52,506 SF

    Building Details

    Year built
    1994

    Source: Mario Giglio III Agent Mario Giglio III

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Property with Walgreens

    This 52,506 SF mixed-use property, consisting of high-quality retail space and limited office/medical space, includes a standalone Walgreens. Located at a hard corner along Chagrin Boulevard and Lee Road, adjacent to Shaker Town Center, the property is currently 95% occupied and has an NOI of $312,192. The property's tenants are suited to the surrounding demographics. Plentiful parking is available. The standalone Walgreens location allows for a potential separate spin off opportunity.
    Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Shaker Towne Centre

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5666265
    Latitude
    41.4639458

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    FAQs

    What type of property is this?
    Shopping center - 52,506 SF mixed-use property in Shaker Heights, Ohio.
    Where is this shopping center located?
    The property is located at 16400-16500 Chagrin Blvd Cleveland, OH.
    What is the asking price?
    The asking price for this property is $4,000,000.
    What are key features of this property?
    This property features: - Prime hard corner location at Chagrin Boulevard and Lee Road, adjacent to Shaker Town Center.; - High occupancy rate of 95%.; - Net Operating Income (NOI) of $312,192.
    (248) 302-0127
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    16400-16500 Chagrin Blvd Cleveland, OH 44120
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