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    The Largest CRE Database in the US with Over 1 Million Listings

    7976 Mayfield Rd Chesterland, OH 44026

    Sponsored
    For Lease
    $16 SF/Yr

    Modern Suites, 2,500-10,000 SF Available

    Lot size:
    20,012 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This exceptional new construction commercial property in Chesterland, Ohio offers 17,790 square feet of immediately available space, perfect for a variety of businesses. Located at 7976 Mayfield Rd, 44026, this Class A building boasts a total of 20,012 square feet across two suites, allowing for flexible configurations ranging from 2,500 to 10,000 square feet. The property is zoned for General Commercial use and is ideally suited for medical offices, creative office spaces, or service businesses, reflecting its versatile design and prime location. The building's new construction ensures modern amenities and efficient layouts, providing a contemporary and appealing environment for tenants. Situated in Geauga County, this property benefits from excellent visibility and accessibility, making it an attractive option for businesses seeking a high-profile presence in a thriving community. The multiple tenancy option allows for diverse business combinations within the building. This is a rare opportunity to secure prime commercial space in a desirable location. Contact us today to learn more about leasing opportunities and explore the possibilities for your business.

    Property Features for 7976 Mayfield Rd

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    20,012 SF
    Class
    A
    Total Rate
    26682.67

    Unit(s) available at that property

    Space
    7,790 SF Lower Level Retail
    Size
    0 SF
    Space
    2,500 - 10,000 SF New Construction
    Size
    10,000 SF
    Rate per SF
    $16

    We can help!

    Listing Contact
    Kevin Moss
    Kevin Moss

    Learn more

    Property Insight Report

    HighLights

    • 17,790 SF of immediately available space in a new Class A building.
    • Two suites available, build‑to‑suit options from 2,500 to 10,000 SF, plus a 7,790 SF fully built‑out lower level.
    • Located at 7976 Mayfield Rd, Chesterland, OH 44026, on a high‑traffic road (14,679 VPD).
    • Zoned C: General Commercial, ideal for retail, medical, office, or service businesses.
    • Strong demographics: 95,379 people within a 15‑minute radius, with average household incomes of $133,232.
    Property Profile Location Intelligence

    Current Use by Public Records

    Chesterland Family Eyecare Optometrist Perrino Remodeler Perrino Furniture Furniture Store Perrino Builders & Remodeling Home Builder Love's Learning Loft Child Care Agency

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chesterland
    County
    Geauga
    State
    Ohio
    Longitude
    -81.35690877
    Latitude
    41.52238677

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    FAQs

    What type of property is this?
    Office space - Modern Suites, 2,500-10,000 SF Available
    Where is this office space located?
    The property is located at 7976 Mayfield Rd Chesterland, OH.
    What is the lease rate?
    The lease rate is $0.00-$16 SF/Yr.
    What are key features of this property?
    This property features: 17,790 SF of immediately available space in a new Class A building.; Two suites available, build-to-suit options from 2,500 to 10,000 SF, plus a 7,790 SF fully built-out lower level.; Located at 7976 Mayfield Rd, Chesterland, OH 44026, on a high-traffic road (14,679 VPD).
    Request Owner's contact information
    7976 Mayfield Rd Chesterland, OH 44026
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    Chesterland, OH 44026
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7976 Mayfield Rd Chesterland, OH 44026
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    We can help!
    Listing Contact
    Kevin Moss
    Kevin Moss
    Real Estate License ID: SAL.2015001299
    Learn more
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