NNN Retail Center For
For Sale
$8,143,000
27100 Chagrin Boulevard, Beachwood, OH 44122
Two-tenant retail center in affluent Chagrin Corridor submarket.
Property Size25,684 SF
Price / SF$317.05
Days on Market159
Property Features for 27100 Chagrin Boulevard
General Information
Standard status
Active
Size
25,684 SF
Property subtype
Multi-Tenant Net Lease
Building Details
Building Size
25,684 SF
Listing Agency:
Passov Real Estate Group
(614) 949-3460
Listed By:
Alex Van Krevel · License #SAL2023005727
Source:
Passovgroup
Added: Mar 27
Changed: Aug 26
Last Checked: Aug 31 at 3:04PM
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 Passov Real Estate Group
Investment Insights
Based on property information with market context.
This retail center is located in the Chagrin Corridor submarket. The property is an 84% covered land value absolute NNN two-tenant building. It is located directly off I-271 at the signalized intersection of Chagrin Blvd & Exit 29, which sees a combined 36,773 vehicles per day. One tenant, Choolaah, has invested over $1.2M in buildouts, while LJI Collision invested $1.5M into their respective spaces. The property is situated in an area with an average household income of $197,000 within a 1-mile radius and a submarket vacancy rate of 1.7% within the General Retail asset class. The tenants' strong sales performance is attributed to the property’s real estate fundamentals.
Key Highlights
- High average household income ($197,000 within 1‑mile).
- Located directly off I‑271 at a signalized intersection with high traffic volume (36,773 vehicles per day).
- Absolute NNN lease structure with 84% covered land value.
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
$245,411
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
3.01%
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%
$4,908,220
$4.9M
Cap Rate 7%
$3,505,871
$3.5M
Cap Rate 9%
$2,726,789
$2.7M
Market Conditions
NOI Build-Up for 25,684 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
$385.3K $15.00/SF
− Vacancy
−$34.7K −$1.35/SF
EGI
$350.6K $13.65/SF
− OpEx
−$105.2K −$4.10/SF
NOI
$245.4K $9.56/SF
Area
Cuyahoga County, OH
Vacancy
9.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$4,908,220
Cap Rate 7%
$3,505,871
Cap Rate 9%
$2,726,789
Alternative Uses
Best Use
Retail
$3.51M
$3.07M – $4.09M
NOI $245,411 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$20.58M
$18.01M – $24.01M
NOI $1,440,540 @ 7.0% cap · market cap 17.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,238
Businesses Nearby
193k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 28%
Superstores 27%
Apparel 20%
Shops & Services 18%
Target
Superstores
52,945 visits/mo
0.1 miles
T.J. Maxx
Apparel
36,281 visits/mo
0.1 miles
McDonald's
Dining
24,979 visits/mo
0.1 miles
Shell
Shops & Services
17,530 visits/mo
0.0 miles
Wendy's
Dining
12,837 visits/mo
0.1 miles
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 Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Pinecrest Plaza Shopping — Park Ave, Orange, OH 44122
- Woodmere Place — 27900-27970 Chagrin Blvd, Woodmere, OH 44122
- Village Square — 27085 Chagrin Blvd, Woodmere, OH 44122
- West End — 28077 Chagrin Blvd, Woodmere, OH 44122
- Newcan — Woodmere Blvd, Woodmere, OH 44122
Frequently Asked Questions
What type of property is this?
Shopping center - Two-tenant retail center in affluent Chagrin Corridor submarket.
Where is this shopping center located?
The property is located at 27100 Chagrin Boulevard Beachwood, OH.
What is the asking price?
The asking price for this property is $8,143,000.
What are key features of this property?
This property features: High average household income ($197,000 within 1‑mile).; Located directly off I‑271 at a signalized intersection with high traffic volume (36,773 vehicles per day).; Absolute NNN lease structure with 84% covered land value.
