Windowed Office
For Sale
Contact for pricing
21207 Chagrin Boulevard, Beachwood, OH 44122
U-7A General Office zoning supports a flexible office configuration with multiple private rooms and conference space.
Property Size5,253 SF
Price / SF$147.34
Days on Market11
Property Features for 21207 Chagrin Boulevard
General Information
Standard status
Active
Size
5,253 SF
Class
B
Total Parking Spaces
27
Property subtype
Office
Zoning
U-7A General Office
Additional Details
Public Transit
Yes
Building Details
Year Built
2005
Buildings
1
Tenancy
Single
Listing Agency:
Coldwell Banker Commercial Emmco Realty Group
(216) 292-3700
Listed By:
Jeffrey E. Soclof, CCIM · License #BRKP.2006005674
Source:
Crexi
Added: Aug 2
Changed: Aug 11
Last Checked: Aug 11 at 7:07PM
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 Coldwell Banker Commercial Emmco Realty Group
Investment Insights
Based on property information with market context.
Built in 2005, this 5,253-square-foot office building includes three large windowed offices, 11 additional windowed offices, and a conference room. The existing layout provides multiple enclosed work areas and can accommodate a multi-tenant configuration.
The property is located at 21207 Chagrin Boulevard in Beachwood, Ohio. An RTA Blue Line bus stop at Belvoir Blvd. is 0.1 miles away, providing nearby public transit access. The site carries U-7A General Office zoning.
The property is located at 21207 Chagrin Boulevard in Beachwood, Ohio. An RTA Blue Line bus stop at Belvoir Blvd. is 0.1 miles away, providing nearby public transit access. The site carries U-7A General Office zoning.
Key Highlights
- 5,253‑square‑foot office building constructed in 2005
- Three large windowed offices plus 11 additional windowed offices
- Conference room included in the existing layout
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
$56,397
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
7.29%
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%
$1,127,940
$1.1M
Cap Rate 7%
$805,671
$805.7K
Cap Rate 9%
$626,633
$626.6K
Market Conditions
NOI Build-Up for 5,253 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
$99.6K $18.96/SF
− Vacancy
−$24.4K −$4.65/SF
EGI
$75.2K $14.31/SF
− OpEx
−$18.8K −$3.58/SF
NOI
$56.4K $10.74/SF
Area
Cuyahoga County, OH
Vacancy
24.50%
Lease Rate
$18.96 /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%
$1,127,940
Cap Rate 7%
$805,671
Cap Rate 9%
$626,633
Alternative Uses
Best Use
Office B
$805.7K
$705.0K – $940.0K
NOI $56,397 @ 7.0% cap · market cap 7.29%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.21M
$3.68M – $4.91M
NOI $294,625 @ 7.0% cap · market cap 38.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,992
Businesses Nearby
Explore this area
Business Placement
Demographics for 44122, OH
36,268
Population
17,795
Households
2
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
12.5 sq mi
ZIP Area
2,901
Density / Sq Mi
$97,469
Median Household Income
$58,334
Median Earnings
$1,509
Median Rent
$304,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - U-7A General Office zoning supports a flexible office configuration with multiple private rooms and conference space.
Where is this office building located?
The property is located at 21207 Chagrin Boulevard Beachwood, OH.
What is the asking price?
The asking price for this property is $774,000.
What are key features of this property?
This property features: 5,253‑square‑foot office building constructed in 2005; Three large windowed offices plus 11 additional windowed offices; Conference room included in the existing layout
