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    Property profile & analytics

    2000 Auburn Dr 1 Chagrin Highlands Beachwood, OH 44122

    • Office Properties & Spaces
    • 29,484 SF
    For Lease
    View listing
    $22 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 2000 Auburn Dr 1 Chagrin Highlands

    Property size
    29,484 SF
    Property type
    Office Properties & Spaces
    Property subtype
    Office space

    Description

    This Class A, 29,484 square foot office building, renovated in 2019, offers a variety of flexible workspace solutions in the desirable Chagrin Highlands complex at 2000 Auburn Drive, Suite 200, Warrensville Heights, OH 44122. Located in Cuyahoga County, this prime location provides convenient access to I-271, I-480, I-90, and Cleveland Hopkins Airport. The building features an impressive reception area and atrium, floor-to-ceiling windows with scenic views, and on-site amenities including ample parking and disabled facilities. Spaces range from 10 square feet to a maximum contiguous 1,300 square feet, with a total of 350 suites and currently 5,970 square feet of vacant space. Options include private, fully furnished executive offices, coworking spaces, and creative office layouts, catering to businesses of all sizes. The building is situated near high-end restaurants, country clubs, and golf courses, ideal for client entertainment. Elevators are available. This prestigious building is home to prominent businesses and offers a state-of-the-art environment. Tailored solutions are available to meet diverse business needs, including serviced offices, custom spaces, and disaster recovery options. A benefits program with exclusive discounts and procurement support is also offered.

    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
    -81.4931
    Latitude
    41.4563

    Comparable in this City

    • Value Estimation
      $305,000
      373 SF

      1st Chagrin Blvd

      CONDOMINIUM OFFICES • 373 SF
      1st Chagrin Blvd, Shaker Heights, OH 44122
      View Details
    • Value Estimation
      $445,000
      12,391 SF

      20600 Chagrin Blvd

      CONDOMINIUM OFFICES • 12,391 SF
      20600 Chagrin Blvd, Shaker Heights, OH 44122-5327
      View Details
    • Value Estimation
      $445,000
      12,419 SF

      20600 Chagrin Blvd

      CONDOMINIUM OFFICES • 12,419 SF
      20600 Chagrin Blvd, Shaker Heights, OH 44122-5327
      View Details
    • Value Estimation
      $440,000
      11,874 SF

      20600 Chagrin Blvd

      CONDOMINIUM OFFICES • 11,874 SF
      20600 Chagrin Blvd, Shaker Heights, OH 44122-5327
      View Details
    • Value Estimation
      $440,000
      11,903 SF

      20600 Chagrin Blvd

      CONDOMINIUM OFFICES • 11,903 SF
      20600 Chagrin Blvd, Shaker Heights, OH 44122-5327
      View Details
    • Value Estimation by Request
      12,042 SF

      23600 Commerce Park Rd

      Medical offices • 12,042 SF
      23600 Commerce Park Rd, Beachwood, OH 44122
      View Details

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      31.00 Acres

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    Similar Nearby for Lease

    • $22 SF/Yr
      29,484 SF

      Chagrin Highlands Office Suites

      Prestigious Beachwood office space. Flexible options available.
      2000 Auburn Dr 1 Chagrin Highlands, Beachwood, OH 44122
      View Details
    • $27 SF/Yr
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      Office spaces available near Chagrin Blvd and shopping centers.
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      Beachwood Office Space For Rent

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      Office space for lease in the heart of Beachwood.
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    • $1,500 /Mo
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      Chagrin Blvd Medical Office Space

      Lab and blood draw suite in the heart of Chagrin.
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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.

    More about this property
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