Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    24175 Chagrin Blvd, Unit 24615 Beachwood, OH 44122-5514
    Back to Search
    Property profile & analytics

    24175 Chagrin Blvd, Unit 24615, Beachwood, OH 44122-5514

    View on Map
    • Grocery and convenience stores
    • 65,256 SF
    • 10.85 lot acres
    Off-Market
    Last Sale Nov 21, 2023
    $32,050,000
    Property ID
    US66-1100453
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 24175 Chagrin Blvd

    Year built
    1993
    Construction
    TYPE NOT SPECIFIED
    Lot size
    10.85 lot acres
    Zone code
    U-4A
    Property type
    Grocery and convenience stores
    APN
    742-16-049
    APU
    74216049

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 21, 2023 $32,050,000 Bma Beachwood LLC Dfg Beachwood Pavilion LLC Limited Warranty Deed —
    Oct 31, 2014 — Dfg-beachwood Pavilion LLC — Grant Deed · related $77.5M · Jp Morgan Chase Bk
    Jun 16, 2014 $5,850,000 Dfg-beachwood Pavilion LLC Wv Land Co Trustees Deed $25.1M · Huntington Nat'l Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Beachwood
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5061
    Latitude
    41.4656
    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
    $407,433
    $2,656,010
    $3,510,470
    $6,166,480
    -
    $7,588,600
    $10,029,900
    $17,618,500

    Comparable in this City

    • Value Estimation by Request
      1,281 SF

      27939 Chagrin Blvd

      CONVENIENCE STORE
      27939 Chagrin Blvd, Woodmere, OH 44122-4431
      View Details
    • Value Estimation by Request
      2,472 SF

      25705 Chagrin Blvd

      CONVENIENCE STORE
      25705 Chagrin Blvd, Beachwood, OH 44122-4222
      View Details
    • Value Estimation by Request
      2,728 SF

      26100 Chagrin Blvd

      CONVENIENCE STORE
      26100 Chagrin Blvd, Beachwood, OH 44122-4228
      View Details
    • Value Estimation by Request
      3,700 SF

      4021 Warrensville Ctr Rd

      RETAIL STORES (PERSONAL SERVICES)
      4021 Warrensville Ctr Rd, Beachwood, OH 44122-6704
      View Details
    • Value Estimation by Request
      3,019 SF

      28789 Chagrin Blvd

      FINANCIAL BUILDING
      28789 Chagrin Blvd, Woodmere, OH 44122-4544
      View Details
    • Value Estimation by Request
      3,532 SF

      20100 Chagrin Blvd

      RETAIL STORES (PERSONAL SERVICES)
      20100 Chagrin Blvd, Shaker Heights, OH 44122-4947
      View Details

    Similar Nearby for Sale

    • $3,450,000
      40,700 SF

      Former Steinmart Anchor Store Opportunity

      40,700 SF retail space on 3.21 acres for sale.
      23949 Chagrin Blvd, Beachwood, OH 44122
      View Details
    • Contact for pricing
      Pending

      NNN Retail Center For Sale

      Two-tenant retail center in affluent Chagrin Corridor submarket.
      27100 Chagrin Blvd, Beachwood, OH 44122
      View Details
    • Contact for pricing
      25,684 SF

      Occupied Retail Center For Sale

      Fully occupied retail center with strong tenant mix and location.
      27100 Chagrin Blvd, Orange, OH 44122
      View Details
    • Contact for pricing

      31 Acre Development Site

      31-acre mixed-use development site in high-demand commercial area.
      Millcreek Blvd, Highland Hills, OH 44122
      View Details
    • Contact for pricing
      19,622 SF

      Beachwood Office Complex For Sale

      Well-maintained office complex in established commerce park.
      23775 Commerce Park, Beachwood, OH 44122
      View Details
    • New
      $229,000
      0.39 Acres

      Buildable Cul-de-Sac Homesite

      Buildable wooded lot on a private cul-de-sac with walk-out basement potential and HOA-supported common area maintenance.
      1906 Woodbrook Ln, Lyndhurst, OH 44122
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,800 SF

      Retail Space on Chagrin Blvd

      Prime retail location in affluent area with high traffic.
      27879 Chagrin Blvd, Woodmere, OH 44122
      View Details
    • Contact for pricing
      3,362 SF

      Retail Space in Van Aken District

      New retail spaces available in mixed-use development, opening Q4 2025.
      3393 Warrensville Rd, Shaker Heights, OH 44122
      View Details
    • Contact for pricing
      4,006 SF

      Retail Space on Chagrin Blvd

      Retail space available on highly trafficked Chagrin Blvd corridor.
      27440-27550 Chagrin Blvd, Orange, OH 44122
      View Details
    • Contact for pricing
      3,500 SF

      Beachwood First Floor Suite

      3,500 SF suite suitable for office, retail, or restaurant.
      3800 Park Dr E, Beachwood, OH 44122
      View Details
    • Contact for pricing
      8,362 SF

      Retail Space in Beachwood Center

      Retail space available in busy Beachwood shopping center.
      24175-24615 Chagrin Blvd, Beachwood, OH 44122
      View Details
    • Contact for pricing
      2,360 SF

      Former Bank Endcap with Drive-Thru

      Former bank endcap with monument signage and drive-thru.
      22835-22841 Chagrin Blvd, Beachwood, OH 44122
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    24175 Chagrin Blvd, Unit 24615
    Beachwood, OH 44122-5514
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    24175 Chagrin Blvd, Beachwood, OH, 44122
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!