Commercial Land with Heated
For Sale
$399,000
12989 Mayfield Road, Chardon, OH 44024
The site includes a heated facility with office space, skylights, and three-phase electrical service.
Property Size1,800 SF
Price / SF$221.67
Days on Market70
Property Features for 12989 Mayfield Road
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Warehouse
Taxes and HOA fees
Annual Taxes
$2,481
Building Details
Building Size
1,800 SF
Year Built
1978
Listing Agency:
Life Stages Realty LLC
Listed By:
Nicolette Kuebeler · License #2022002552
(330) 322-3637
Source:
Lifestagesrealty
Added: Aug 19
Changed: Oct 26
Last Checked: Oct 26 at 3:09PM
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 Life Stages Realty LLC
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Investment Insights
Based on property information with market context.
This 10.33-acre commercial property includes an approximately 1,800-square-foot heated building constructed in 1978. The facility has an air-conditioned office, a 20-foot ceiling, a 12-foot bay door, skylights, and three-phase electrical service with 220V receptacles. An artesian spring water well with a newer pump also serves the site.
Located on Mayfield Road in Chardon, Ohio, the property is approximately eight minutes from Chardon Square. The land and existing improvements provide space for outdoor storage, equipment and vehicle parking, expansion, or redevelopment. Owner financing may be available.
Located on Mayfield Road in Chardon, Ohio, the property is approximately eight minutes from Chardon Square. The land and existing improvements provide space for outdoor storage, equipment and vehicle parking, expansion, or redevelopment. Owner financing may be available.
Key Highlights
- 10.33 acres of commercial land in Chardon, Ohio
- Approximately 1,800 SF heated building, constructed in 1978
- Air‑conditioned office, 20' ceiling, skylights, and 12' bay door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,518
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,360
$270.4K
Cap Rate 7%
$193,114
$193.1K
Cap Rate 9%
$150,200
$150.2K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$17.1K $9.48/SF
− Vacancy
−$1.2K −$0.64/SF
EGI
$15.9K $8.84/SF
− OpEx
−$2.4K −$1.33/SF
NOI
$13.5K $7.51/SF
Area
Geauga County, OH
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,360
Cap Rate 7%
$193,114
Cap Rate 9%
$150,200
Alternative Uses
Best Use
Warehouse
$193.1K
$169.0K – $225.3K
NOI $13,518 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$362.6K
$317.3K – $423.0K
NOI $25,380 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 44024, OH
23,795
Population
9,560
Households
2.5
Avg Household Size
47
Median Age
35%
College-Educated
96%
High-School Grad
90.0 sq mi
ZIP Area
264
Density / Sq Mi
$104,808
Median Household Income
$50,444
Median Earnings
$1,022
Median Rent
$298,100
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Commercial land - The site includes a heated facility with office space, skylights, and three-phase electrical service.
Where is this commercial land located?
The property is located at 12989 Mayfield Road Chardon, OH.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 10.33 acres of commercial land in Chardon, Ohio; Approximately 1,800 SF heated building, constructed in 1978; Air‑conditioned office, 20' ceiling, skylights, and 12' bay door
