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    27450 Chagrin Blvd Beachwood, OH 44122
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    27450 Chagrin Blvd, Beachwood, OH 44122

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    • Neighborhood centers
    • 24,319 SF
    • 2.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 27450 Chagrin Blvd

    Year built
    2001
    Lot size
    2.00 lot acres
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Orange Plaza, located at 27450 Chagrin Blvd in Woodmere, Ohio (zip code 44122, Cuyahoga County), presents a prime retail opportunity. This 24,319 square foot strip center, built in 2001, currently has 4,006 square feet of vacant space available for lease. The property sits on two acres of land (APN 901-01-008) and enjoys a highly visible location on the heavily trafficked Chagrin Boulevard corridor. Its strategic placement across from Village Square Shopping Center, which includes a newly opened Target, ensures significant foot traffic and brand exposure. Current tenants include Lakeshore, Spectrum, FedEx, and DentalWorks, establishing a strong and diverse tenant mix. A monument sign is available for increased visibility and brand recognition. This multi-tenant property offers an excellent chance to establish a presence in a thriving retail area. The property's location in Beachwood, Ohio, provides easy access to a large customer base. This space is ideal for businesses seeking high visibility and a strong location within an established retail center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Beachwood
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.4853
    Latitude
    41.4621

    Comparable in this City

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      3393 Warrensville Center Rd

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    • Value Estimation
      $2,490,000
      22,500 SF

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    • Value Estimation by Request
      1,485 SF

      3971 Warrensville Ctr Rd

      SHOPPING CENTER, STRIP CENTER
      3971 Warrensville Ctr Rd, Warrensville Heights, OH 44122-6764
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    • Value Estimation
      $1,075,000
      9,879 SF

      27440 Chagrin Blvd, Unit 27550

      SHOPPING CENTER, STRIP CENTER
      27440 Chagrin Blvd, Beachwood, OH 44122-4423
      View Details
    • Value Estimation
      $1,150,000
      9,996 SF

      28400 Chagrin Blvd, Unit 450

      SHOPPING CENTER, STRIP CENTER
      28400 Chagrin Blvd, Woodmere, OH 44122-4528
      View Details

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      Pending

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      Occupied Retail Center For Sale

      Fully occupied retail center with strong tenant mix and location.
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    • $3,450,000
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      Former Steinmart Anchor Store Opportunity

      40,700 SF retail space on 3.21 acres for sale.
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      31 Acre Development Site

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      Beachwood Office Complex For Sale

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      Retail Space in Beachwood Center

      Retail space available in busy Beachwood shopping center.
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      700 SF

      Luxury Retail Space in Woodmere

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      Upscale retail and dining in Northeast Ohio's premier fashion district.
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      3,500 SF

      Beachwood First Floor Suite

      3,500 SF suite suitable for office, retail, or restaurant.
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      4,006 SF

      Retail Space on Chagrin Blvd

      Retail space available on highly trafficked Chagrin Blvd corridor.
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      2,800 SF

      Retail Space on Chagrin Blvd

      Prime retail location in affluent area with high traffic.
      27879 Chagrin Blvd, Woodmere, OH 44122
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    Beachwood, OH 44122
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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.

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