Office Unit with
For Sale
$85,000
255 Park Pl, Chagrin Falls, OH 44022
Commercial unit with a private entrance, parking, built-in cabinetry, counters, and dedicated storage.
Property Size600 SF
Price / SF$141.67
Days on Market75
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Property Features for 255 Park Pl
General Information
Standard status
Active
Size
600 SF
Amenities
cabinets
counter space
storage room
Building Details
Year Built
1989
Listing Agency:
LPT Realty
Listed By:
Michael A Ferrante · License #2019005741
(216) 373-7727
Source:
Higherperspectivegroup
Added: Aug 2
Changed: Oct 14
Last Checked: Oct 15 at 2:41AM
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 individual office/retail unit measures approximately 600 square feet within a commercial property, offering a private entrance and a separate storage room. Built-in cabinets and counter space support a range of office or small-business layouts, while on-site parking is available for occupants and visitors. The unit is offered separately from the building and carries Commercial zoning.
Positioned just east of Downtown Chagrin Falls, the property combines a business-oriented setting with convenient access to the downtown area. Construction dates to 1989, and the unit is scheduled to be available in August.
Positioned just east of Downtown Chagrin Falls, the property combines a business-oriented setting with convenient access to the downtown area. Construction dates to 1989, and the unit is scheduled to be available in August.
Key Highlights
- Approximately 600 square feet of office/retail space
- Private entrance with on‑site parking
- Separate storage room included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,356
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
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
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 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
Retail
$34.0K
$29.8K – $39.7K
NOI $2,381 @ 7.0% cap · market cap 2.80%
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
317
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office units - Commercial unit with a private entrance, parking, built-in cabinetry, counters, and dedicated storage.
Where is this office units located?
The property is located at 255 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/retail space; Private entrance with on‑site parking; Separate storage room included
