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Property profile & analytics
OFF-MARKET
Estimated value
$5,325,000
Office buildings
29225 Chagrin Blvd Beachwood, OH 44122-4645
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US66-2072974
Property summary
AI-generated overview
The Courtlands Building offers exceptional executive office space in a desirable Cuyahoga County location. This Class B, three-story building, constructed in 1979 and extensively renovated in 2021, boasts a total of 33,000 square feet. The property features three suites, with a minimum divisible space of 1,930 square feet and a maximum contiguous space of 7,595 square feet. Currently, there are multiple suites available for lease. The building provides ample parking with 200+ spaces and convenient elevator access. Its prime location offers easy access to premier shopping destinations such as Eton Collection, Harvard Park, and Pinecrest shopping centers. Available spaces offer a combination of perimeter offices, well-appointed conference rooms, and adaptable open work areas, ideal for a variety of business needs. This is a first-class office community, perfect for businesses seeking a sophisticated and convenient location. Immediate occupancy is available for spaces ranging from 1,930 to 7,595 square feet on the third floor.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1979
Construction
TYPE NOT SPECIFIED
Total area
35,835 SF
Lot
2.01 ac (87,499 SF)
Zoning code
U-3
APN
872-17-040
UPID
US66-2072974
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.67M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.60M
Blend (final)
Blend
$5.33M
Owner & transaction history
Rock On Cleveland Oppurtunity · 6 yrs held
Rock On Cleveland Oppurtunity
since 2020
Last sale
$4.8M
7 recorded transactions
Zoning & alternative use
U-3 · Beachwood, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.0M
+53.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Beachwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Beachwood submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$5,745,000
ML approach
$5,670,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,940,000
Current use
RESTAURANT
$6,045,000
Change: +53% · Conversion: Moderate
MEDICAL BUILDING
$3,895,000
Change: -1% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$3,630,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$5.33M
Range $4.79M – $5.86M · ±10% · vs last sale $4.80M (Apr 28 2020)
Last sale anchor
$4.80M
Apr 28 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$149 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$129,500
Tax year 2023
Assessed value
$1,558,130
Assessed 2023
Previous assessed
$1,558,130
+0.0% YoY
Effective rate
8.31%
On assessed value
Assessed land
$318,500
Assessed improvement
$1,239,630
Land market value
$910,000
Improvement market value
$3,541,800
Total market value
$4,451,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1979
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
CENTRAL
Stories
3
Total area
35,835 SF
Lot
2.01 ac (87,499 SF)
Zoning code
U-3
APN
872-17-040
UPID
US66-2072974
Jurisdiction
CUYAHOGA
Zoning & alternative use
U-3 · Beachwood, OH
Zoning U-3 · permitted uses
U-3 · Beachwood, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Beachwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.9M
RESTAURANT
Est. value
$6.0M
MEDICAL BUILDING
Est. value
$3.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.6M
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1979
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
Yes
Stories
3
Lot
2.01 ac
Current owner
From public records · entity-resolved
Rock On Cleveland Oppurtunity
Individual
Mailing address
14077 CEDAR RD STE #204, CLEVELAND, OH 44118-3332
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2020
—
Flashhouse Flashhouse Cle West
—
Deed
related
$108,800 · Lendinghome Fndg
Apr 28, 2020
$4,800,000
Rock On Cleveland Oppurtunity
Metro Officeplex LP
Grant Deed
—
Nov 18, 2014
$1,357,500
Metro Officeplex LP
Chagrin Patrick LLC
Grant Deed
—
Nov 18, 2014
$3,054,375
Metro Officeplex LP
Chagrin Ns LLC
Grant Deed
—
Nov 18, 2014
$113,125
Metro Officeplex LP
Chagrin Thomas LLC
Grant Deed
related
$3,393,750 · Everbank
Nov 17, 2014
—
Chagrin Ns LLC
Omni-chagrin Ltd
Quit Claim Deed
related
—
Mar 8, 2011
—
Omni-chagrin Ltd
—
Deed Of Trust
related
$2,750,000 · American Equity Inv Life Ins
—
—
Omni-chagrin Ltd
—
Deed Of Trust
related
$722,955 · National City Bank
—
—
Omni-chagrin Ltd
—
Deed Of Trust
related
$2,950,000 · Sun Life Assurance Co
—
—
Flashhouse Flashhouse Cle West
—
Deed Of Trust
related
$108,800 · Lendinghome Fndg
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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