Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Retail Space in Growing Chesterland Title is generated by Realmo AI

    12575-12623 Chillicothe Rd, Chesterland, OH

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail spaces available with ample parking and signage opportunities.

    Type:RETAIL
    Property size:
    1,125 SF
    Lot size:
    7.73 Acres
    Added:
    Aug 1, 2024
    Days on Market:
    675
    Last Refresh:
    May 20 at 9:25 pm

    Property Features for 12575-12623 Chillicothe Rd

    General Information

    Standard status
    Active
    Size
    1,125 SF
    Lot size
    7.73 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 12575-12623 Chillicothe Rd Contact us

    We can help!

    Listing Contact
    Matt Wilson
    Matt Wilson

    Listing agent Matt Wilson

    Listing office Anchor Retail

    Listing date Aug 1, 2024

    Source Moodyscre

    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 Anchor Retail

    HighLights

    • Strong median household incomes over $89,000 within a 1‑mile radius.
    • Ample parking.
    • Monument signage opportunity.
    • Possible drive‑thru opportunity on end‑cap unit.
    • Availability to create up to a 5,000 SF end‑cap.
    • Join established businesses such as Discount Drug Mart and Sherwin Williams.

    Overview

    Retail spaces are available, offering the potential to create up to a 5,000-square-foot end-cap unit. The available units include: Unit 12595, comprising 2,363 square feet; Unit 12617, a former pizza shop with 1,550 square feet; Unit 12619, offering 1,125 square feet; and Unit 12621-23, a former kitchen space with 2,325 square feet. There is a possible drive-thru opportunity on an end-cap unit. The property features ample parking and monument signage opportunities. Located in Chesterland, a growing city with strong median household incomes over $89,000 within a 1-mile radius, the property is near Discount Drug Mart, Sherwin Williams, Enzo G Salon Suites, Farmer in the Deli, and Chester Optical.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Chesterland
    County
    Geauga
    State
    Ohio
    Longitude
    -81.3373
    Latitude
    41.527

    Nearby Similar for Lease

    • $10 SF/Yr
      17,790 SF

      New Retail Space Available

      New construction retail space in high-traffic Chesterland location.
      7976 Mayfield Road, Chesterland, OH, 44026
      View Details
    • $7 SF/Yr

      Industrial Warehouse for Lease

      Warehouse space available for lease on Mayfield Road in Chesterland, OH, suited for industrial storage and operations.
      8763 Mayfield Road, Chesterland, OH 44026
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space in Maywood Centre

      Community shopping center with strong occupancy history in Chesterland.
      8389 Mayfield Rd, Chesterland, OH
      View Details
    • Contact for pricing
      2,400 SF

      Remodeled Office Suites in Chesterland

      Quaint office building with suites ranging from 150-2,400 SF.
      8228 Mayfield Rd, Chesterland, OH
      View Details
    • Contact for pricing
      2,267 SF

      Dental Office Space Available

      2,267 SF dental office space for lease.
      8254 Mayfield Rd, Chesterland, OH
      View Details
    • Contact for pricing

      Retail Space in Chesterland, OH

      Shopping center opportunity in Chesterland, Ohio.
      8007 Mayfield Rd, Chesterland, OH 44026
      View Details

    FAQs

    What type of property is this?
    Strip mall - Retail spaces available with ample parking and signage opportunities.
    Where is this strip mall located?
    The property is located at 12575-12623 Chillicothe Rd Chesterland, OH.
    What are key features of this property?
    This property features: Strong median household incomes over $89,000 within a 1‑mile radius.; Ample parking.; Monument signage opportunity.
    (216) 342-2580 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Matt Wilson
    Matt Wilson
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    12575-12623 Chillicothe Rd, Chesterland, OH
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!