Two-Unit Flex Industrial
1537 Chardon Road, Euclid, OH 44117
For Sale
$499,500
CommercialSale, Euclid, OH
Property Size4,200 SF
Lot Size0.24 Acres
Price / SF$118.93
Days on Market47
Property Features for 1537 Chardon Road
General Information
Property type
Property subtype
Zoning description
Parking
Security features
Subdivision
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Number of units
Roof type
Buildings
Listing Agency:
Keller Williams Citywide · Keller Williams Realty
(440) 892-2211
Listed By:
David M Reddy · License #2001006408
(216) 406-4746
Added: Sep 22
Changed: Oct 23
Last Checked: Nov 7 at 11:06PM
MLS# 5245145
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 4,200 SF flex industrial building is configured as two separate 2,100 SF units, providing adaptable space for an owner-user or multiple occupants. Suite A is primarily warehouse space with radiant overhead heating. Suite B combines approximately 850-900 SF of office area with warehouse space, a Reznor overhead heater, and A/C serving the office. Both units include remodeled bathrooms, 10-foot overhead doors, and entrances oriented toward Chardon Avenue.
The property is located at 1537 Chardon Road in Euclid, near I-90 and approximately 15 minutes from downtown Cleveland. Rear parking is available on site, with additional access to a nearby public parking area. Improvements include newer windows and an elastomeric coating scheduled for application in October over the existing EPDM roof, backed by a 10-year transferable warranty. Public water and sewer serve the property, which was built in 1997 on 0.2396 acres.
The property is located at 1537 Chardon Road in Euclid, near I-90 and approximately 15 minutes from downtown Cleveland. Rear parking is available on site, with additional access to a nearby public parking area. Improvements include newer windows and an elastomeric coating scheduled for application in October over the existing EPDM roof, backed by a 10-year transferable warranty. Public water and sewer serve the property, which was built in 1997 on 0.2396 acres.
Key Highlights
- 4,200 SF building divided into two separate 2,100 SF units
- Suite B includes approximately 850‑900 SF of office space
- Both units have remodeled bathrooms and 10‑foot overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,170
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,400
$303.4K
Cap Rate 7%
$216,714
$216.7K
Cap Rate 9%
$168,556
$168.6K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$24.7K $5.88/SF
− Vacancy
−$1.4K −$0.32/SF
EGI
$23.3K $5.56/SF
− OpEx
−$8.2K −$1.94/SF
NOI
$15.2K $3.61/SF
Area
Cuyahoga County, OH
Vacancy
5.50%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,400
Cap Rate 7%
$216,714
Cap Rate 9%
$168,556
Alternative Uses
Best Use
Warehouse
$3.37M
$2.94M – $3.93M
NOI $235,566 @ 7.0% cap · market cap 47.16%
Second Best
Industrial
$2.77M
$2.42M – $3.23M
NOI $193,995 @ 7.0% cap · market cap 38.84%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 44117, OH
10,533
Population
5,320
Households
2
Avg Household Size
49
Median Age
20%
College-Educated
91%
High-School Grad
3.8 sq mi
ZIP Area
2,772
Density / Sq Mi
$41,818
Median Household Income
$35,966
Median Earnings
$877
Median Rent
$137,100
Median Home Value
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Market
Properties on Market for Flex space in Cuyahoga County
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Chef's For Hire — 23555 Euclid Ave, Euclid, OH 44117
Frequently Asked Questions
What type of property is this?
Flex space - Flexible industrial property with separate work areas, rear parking, and direct access to I-90 and downtown Cleveland.
Where is this flex space located?
The property is located at 1537 Chardon Road Euclid, OH.
What is the asking price?
The asking price for this property is $499,500.
What are key features of this property?
This property features: 4,200 SF building divided into two separate 2,100 SF units; Suite B includes approximately 850‑900 SF of office space; Both units have remodeled bathrooms and 10‑foot overhead doors
