Office Unit with Private
For Sale
Contact for pricing
200-285 Park Pl, Chagrin Falls, OH 44022
Flexible commercial suite with dedicated entry, on-site parking, built-in cabinetry, and a separate storage room.
Property Size600 SF
Price / SF$141.67
Days on Market101
Property Features for 200-285 Park Pl
General Information
Standard status
Active
Size
600 SF
Property subtype
OFFICE
Amenities
private entrance
separate storage room
Listing Agency:
LPT Realty
(216) 373-7727
Listed By:
Mike Ferrante · License #2008004067
(216) 373-7727
Source:
Moodyscre
Added: May 23
Changed: Aug 31
Last Checked: Aug 31 at 1:49AM
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 LPT Realty
Investment Insights
Based on property information with market context.
This approximately 600-square-foot office unit is located at 200-285 Park Pl in Chagrin Falls. The suite includes a private entrance, built-in cabinets and counter space, and a separate storage room. Its configuration supports office use and other small-business operations.
The property sits just east of Downtown Chagrin Falls and includes on-site parking. The combination of dedicated access, workspace, storage, and existing cabinetry provides a practical setup for a compact commercial occupant.
The property sits just east of Downtown Chagrin Falls and includes on-site parking. The combination of dedicated access, workspace, storage, and existing cabinetry provides a practical setup for a compact commercial occupant.
Key Highlights
- Approximately 600 square feet of office space
- Private entrance for direct suite access
- On‑site parking included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$7,356
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$147,120
$147.1K
Cap Rate 7%
$105,086
$105.1K
Cap Rate 9%
$81,733
$81.7K
Market Conditions
NOI Build-Up for 600 SF
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.
Gross rent
$12.9K $21.48/SF
− Vacancy
−$3.1K −$5.13/SF
EGI
$9.8K $16.35/SF
− OpEx
−$2.5K −$4.09/SF
NOI
$7.4K $12.26/SF
Area
Geauga County, OH
Vacancy
23.90%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$147,120
Cap Rate 7%
$105,086
Cap Rate 9%
$81,733
Alternative Uses
Best Use
Office B
$105.1K
$92.0K – $122.6K
NOI $7,356 @ 7.0% cap · market cap 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$120.9K
$105.8K – $141.0K
NOI $8,460 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Explore this area
Business Placement
Demographics for 44022, OH
17,150
Population
7,228
Households
2.4
Avg Household Size
48
Median Age
73%
College-Educated
99%
High-School Grad
30.2 sq mi
ZIP Area
568
Density / Sq Mi
$152,213
Median Household Income
$72,935
Median Earnings
$1,446
Median Rent
$469,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible commercial suite with dedicated entry, on-site parking, built-in cabinetry, and a separate storage room.
Where is this office units located?
The property is located at 200-285 Park Pl Chagrin Falls, OH.
What is the asking price?
The asking price for this property is $85,000.
What are key features of this property?
This property features: Approximately 600 square feet of office space; Private entrance for direct suite access; On‑site parking included
