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    Property profile & analytics

    214 Park St Chardon, OH 44024

    • Office buildings
    • 1,808 SF
    • 0.18 lot acres
    For Sale
    View listing
    $319,900
    Value Estimations
    Cap Rate Potential
    9.5%
    Office buildings
    Location Intelligence
    Property ID
    US66-2203916
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 214 Park St

    Year built
    1865
    Construction
    FRAME
    Lot size
    0.18 lot acres
    Property size
    1,808 SF
    Property type
    Office buildings
    APN
    10-143900
    APU
    10143900

    Description

    This exceptional 1,808 square foot, two-story office building enjoys unparalleled visibility on Chardon Square. Previously utilized as law offices and a title company, the property boasts updated offices throughout, a convenient kitchenette, and two bathrooms. A welcoming front entry porch and a rear deck provide both professional and relaxed spaces. A dedicated conference room facilitates meetings and presentations. The full basement houses updated mechanical systems, ensuring efficient and reliable operation. Ample paved parking is provided, accessible directly from the Square with an additional exit onto North Hambden Street. The sale includes both the building and the adjacent parking lot, encompassing a 0.43-acre lot. This is a rare opportunity to acquire a prominent, free-standing property in the heart of Chardon Square, directly across from the new courthouse addition. The C-2 zoning (Chardon Square Mixed Use District) allows for flexible usage, with the first floor suitable for office or retail space, and the second floor adaptable for residential or office/retail purposes. Owners can participate in the vibrant "On the Square" community events. The asking price is $319,900. This property presents a unique investment opportunity in a thriving downtown location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $395,000
      6.5%
      $365,000
      7%
      $340,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $184,000
      Market price range: $101k - $248k
      AI Estimate
      $164,000
      Market price range: $104k - $225k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $160,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chardon
    County
    Geauga
    State
    Ohio
    Longitude
    -81.2025
    Latitude
    41.5832
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,710
    $27,440
    $40,640
    $68,080
    -
    $78,400
    $116,100
    $194,500

    Comparable in this City

    • Value Estimation by Request
      0.36 Acres

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      5th Ave, Chardon, OH 44024
      View Details
    • Value Estimation
      $340,000
      7,020 SF

      155 Main St

      OFFICE BUILDING • 7,020 SF
      155 Main St, Chardon, OH 44024-1244
      View Details
    • Value Estimation
      $215,000
      1,007 SF

      12564 Mayfield Rd

      OFFICE BUILDING • 1,007 SF
      12564 Mayfield Rd, Chardon, OH 44024-8450
      View Details
    • Value Estimation
      $300,000
      4,608 SF

      10750 Mayfield Rd

      OFFICE BUILDING • 4,608 SF
      10750 Mayfield Rd, Chardon, OH 44024-9323
      View Details
    • Value Estimation
      $310,000
      1,710 SF

      139 Main St

      OFFICE BUILDING • 1,710 SF
      139 Main St, Chardon, OH 44024-1244
      View Details
    • Value Estimation
      $355,000
      2,160 SF

      151 Main St

      OFFICE BUILDING • 2,160 SF
      151 Main St, Chardon, OH 44024-1244
      View Details

    Similar Nearby for Sale

    • $319,900
      1,808 SF

      Prime Chardon Square Office Building

      Updated Office Building, High Visibility
      214 Park St, Chardon, OH 44024
      View Details
    • Contact for pricing
      0.34 Acres

      Huntsburg, OH Land For Sale

      Residential land in Huntsburg, Ohio, suitable for building a house.
      11352 Old State Rd, Huntsburg, OH 44024
      View Details
    • $209,900
      Pending

      Land Ready For Development

      10 acre lot suitable for residential development.
      1 Chardon Windsor Rd, Chardon, OH 44024
      View Details
    • $63,900
      0.24 Acres

      Residential Lot in Fox Pointe

      Build your dream home in desirable Chardon neighborhood.
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      View Details
    • $1,025,000
      54.00 Acres

      54 Acres Ideal Nature Retreat

      54-acre retreat for nature lovers, hunters, and privacy seekers.
      14700 Rock Creek Rd, Chardon, OH 44024
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      Prime Commercial Land Opportunity

      1.1 acres suitable for office, medical, or retail development.
      510 5Th Ave, Chardon, OH 44024
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    Similar Nearby for Lease

    • Contact for pricing
      6,367 SF

      Office Space Near Chardon Square

      Office space available on 5th Avenue near Chardon Square.
      521 5Th Ave, Chardon, OH 44024
      View Details
    • $14 SF/Yr
      9,904 SF

      Prime Chardon Office Space Available

      Traditional office building, flexible suites, Geauga County.
      100 Parker Ct, Chardon, OH 44024
      View Details
    • Contact for pricing
      150,000 SF

      Grand River Walk: Retail Spaces

      Prime Painesville retail, restaurant space.
      257 Main St, Chardon, OH 44024
      View Details
    • Contact for pricing
      7,400 SF

      Chardon Retail Space - 7,400 SF

      Prime retail space in thriving Chardon, OH.
      255 Meadowlands Dr, Chardon, OH 44024
      View Details
    • Contact for pricing
      8,125 SF

      Free Standing Retail Building

      8,125 SF retail building in close proximity to downtown.
      11180 Chardon Rd, Chardon, OH 44024
      View Details
    • Contact for pricing
      20,000 SF

      Chardon, Ohio Commercial Land for Lease

      1.1-Acre Commercial Lot, Geauga County
      0 Chardon Ohio, Chardon, OH 44024
      View Details
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    Chardon, OH 44024
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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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