Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    28700 Chagrin Blvd Woodmere, OH 44122-4560

    • Strip malls
    • 22,500 SF
    • 2.31 lot acres
    OFF-MARKET
    Value Estimations
    $2,490,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2177090
    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

    • Health and Fitness Equipment Centers / Exercise Equipment Store
    • The Original Pancake House Woodmere / American Restaurant / Breakfast Restaurant
    • Karen M. Malaski, OD / Optometrist
    • Sound & Vision / Home Theater Store / Home Audio Store
    • Frames Unlimited: Woodmere / Picture Frame Shop / Art Restoration Service

    Property Details for 28700 Chagrin Blvd

    Year built
    1981
    Construction
    TYPE NOT SPECIFIED
    Lot size
    2.31 lot acres
    Property size
    22,500 SF
    Zone code
    U-3
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    891-10-020
    APU
    89110020

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,280,000
      Current use
      RESTAURANT
      $3,795,000
      Change: +67% Conversion: Difficult
      OFFICE BUILDING
      $2,475,000
      Change: +9% Conversion: Moderate
      MEDICAL BUILDING
      $2,445,000
      Change: +7% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,000,000
      Change: -12% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,865,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Woodmere
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.476
    Latitude
    41.4619
    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
    $82,193
    $704,900
    $348,530
    $1,053,430
    -
    $2,014,000
    $995,800
    $3,009,800

    Comparable in this City

    • Value Estimation
      $1,150,000
      9,996 SF

      28400 Chagrin Blvd, Unit 450

      SHOPPING CENTER, STRIP CENTER • 9,996 SF
      28400 Chagrin Blvd, Woodmere, OH 44122-4528
      View Details
    • Value Estimation by Request
      1,485 SF

      3971 Warrensville Ctr Rd

      SHOPPING CENTER, STRIP CENTER • 1,485 SF
      3971 Warrensville Ctr Rd, Warrensville Heights, OH 44122-6764
      View Details
    • Value Estimation
      $3,270,000
      29,719 SF

      20040 Van Aken Blvd, Unit 20200

      SHOPPING CENTER, STRIP CENTER • 29,719 SF
      20040 Van Aken Blvd, Shaker Heights, OH 44122-3621
      View Details
    • Value Estimation by Request
      8,136 SF

      3231 Warrensville Ctr Rd

      SHOPPING CENTER, STRIP CENTER • 8,136 SF
      3231 Warrensville Ctr Rd, Shaker Heights, OH 44122-3701
      View Details
    • Value Estimation
      $1,075,000
      9,879 SF

      27440 Chagrin Blvd, Unit 27550

      SHOPPING CENTER, STRIP CENTER • 9,879 SF
      27440 Chagrin Blvd, Beachwood, OH 44122-4423
      View Details
    • Value Estimation by Request
      24,319 SF

      27450 Chagrin Blvd

      Neighborhood centers • 24,319 SF
      27450 Chagrin Blvd, Beachwood, OH 44122
      View Details

    Similar Nearby for Sale

    • $8,143,000
      25,684 SF

      Beachwood Retail Center Investment

      High-yield, 2-tenant retail center in prime Ohio location.
      27100 Chagrin Blvd, Orange, OH 44122
      View Details
    • $3,866,500
      40,700 SF

      Anchor Store Box Opportunity

      Rare retail opportunity in prime Northern Ohio market.
      23949 Chagrin Blvd, Beachwood, OH 44122
      View Details
    • Contact for pricing
      31.00 Acres

      Chagrin Highlands Development Site

      31-Acre Mixed-Use Land in Highland Hills, OH
      0 Millcreek Blvd, Highland Hills, OH 44122
      View Details
    • $13,000,000
      128,729 SF

      Beachwood Medical Office Building

      Prime Beachwood location, high NOI, value-add potential.
      3690 Orange Pl, Orange, OH 44122
      View Details
    • $1,750,000
      22,944 SF

      Beachwood Office Building For Sale

      Centrally located Beachwood office building with strong tenant mix.
      3781-99 S Green Rd, Beachwood, OH 44122
      View Details
    • Contact for pricing
      59,168 SF

      Modern Office Space For Sale

      Class A office space with modern design and premium amenities.
      25435 Harvard Rd, Beachwood, OH 44122
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      234,035 SF

      Harvard Park: Prime Retail Center

      High-traffic retail center in Warrensville Heights, OH
      4025 Richmond Rd, Warrensville Heights, OH 44122
      View Details
    • Contact for pricing
      13,196 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
      33,800 SF

      Beachwood Retail Center: Prime Location

      Two-building retail center, ample parking.
      25855 Chagrin Blvd, Beachwood, OH 44122
      View Details
    • Contact for pricing
      11,421 SF

      Legacy Village Retail Space

      Beachwood, OH shopping center space
      25001 Cedar Rd, 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
    • Contact for pricing
      314,000 SF

      Eton Chagrin: Luxury Office Suites

      Upscale Office Space, Northeast Ohio
      28601 Chagrin Blvd, Woodmere, 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.
    28700 Chagrin Blvd
    Woodmere, OH 44122-4560
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.