Flex Building with Office and
16821 Park Circle Dr Chagrin Falls, OH 44023
16821 Park Circle Dr, Chagrin Falls, OH, 44023
Contact for pricing
For Sale
Contact for pricing
Highly improved flex building with 2,000 SF finished office and 10' drive-in door for warehouse and shop use.
Property Size5,000 SF
Price / SF$179.80
Days on Market37
Property Features for 16821 Park Circle Dr
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Property subtype
- Industrial, Office
Building Details
- Year Built
- 1969
Listing agency
Gatto Group Inc
(216) 621-1800
Listed by
Donny Gatto · License #2024006572
Source
Crexi
Added: Jun 16 Updated: Jul 21 at 7:31PM Checked: Jul 21 at 7:31PM
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 Gatto Group Inc
Investment Insights
Based on property information with market context.
This highly improved flex building offers a practical combination of finished office space and functional warehouse/shop area. Approximately 2,000 SF of office space includes private offices, reception space, conference areas, and upgraded finishes. The remaining space is designed for day-to-day operations with dock access, an open-span warehouse/workspace, and a 10' drive-in door to support movement of equipment, vehicles, and materials.
The property is located at 16821 Park Circle Dr in Chagrin Falls, OH, and is offered for sale as both an ownership and occupancy opportunity. The layout supports companies that want staff-facing office space at the front with operational storage and workspace in the rear.
With its office buildout, dock access, and drive-in capability, the building is well-suited for contractors, service companies, trades, and light manufacturing users that need a single location for professional workspace and warehouse activity.
The property is located at 16821 Park Circle Dr in Chagrin Falls, OH, and is offered for sale as both an ownership and occupancy opportunity. The layout supports companies that want staff-facing office space at the front with operational storage and workspace in the rear.
With its office buildout, dock access, and drive-in capability, the building is well-suited for contractors, service companies, trades, and light manufacturing users that need a single location for professional workspace and warehouse activity.
Key Highlights
- 5,000 SF flex building built in 1969 with 2,000 SF finished office and 3,000 SF warehouse/shop space
- Office space includes private offices, reception, and conference areas with upgraded finishes
- Warehouse/shop features a 10' drive‑in door and dock access
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $107.4k | $21.48 |
| − Vacancy | −$25.7k | −$5.13 |
| EGI | $81.7k | $16.35 |
| − OpEx | −$20.4k | −$4.09 |
| NOI | $61.3k | $12.26 |
5,000 SF · lease $21.48/SF/yr · vacancy 23.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$875.7K
$766.2K – $1.02M
NOI $61,299 @ 7.0% cap · market cap 6.82%
Second Best
Warehouse
$536.4K
$469.4K – $625.8K
NOI $37,550 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$1.01M
$881.2K – $1.17M
NOI $70,499 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Hungry Bee — 8326 E Washington St, Chagrin Falls, OH 44023
- Strawberry Hill Catering — 8326 E Washington St, Chagrin Falls, OH 44023
FAQs
What type of property is this?
Flex space - Highly improved flex building with 2,000 SF finished office and 10' drive-in door for warehouse and shop use.
Where is this flex space located?
The property is located at 16821 Park Circle Dr Chagrin Falls, OH.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 5,000 SF flex building built in 1969 with 2,000 SF finished office and 3,000 SF warehouse/shop space; Office space includes private offices, reception, and conference areas with upgraded finishes; Warehouse/shop features a 10' drive‑in door and dock access
