Property profile

398 W Bagley Rd Berea, OH 44017

FOR LEASE
Office buildings
Property ID
US66-4383076
32,000 SF 2.58 ac lot Built 1964
Entity Owned 7-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This Berea, Ohio commercial property at 398 W Bagley Rd, zip code 44017, offers a diverse range of office and retail spaces for lease. The two-story building features both first-floor storefronts ideal for retail businesses and second-floor offices suitable for various professional uses, including traditional office, coworking, executive office, medical office, and creative office spaces. Seven units are currently available, ranging in size from 94 to 800 square feet. Recent renovations include modern flooring, fresh paint, and updated sinks in select units. Each unit boasts individual thermostats for climate control. The building benefits from ample parking at both the front and rear. The property is conveniently located near local shopping, dining, and major freeways, with downtown Berea less than a five-minute drive away. Utilities are tenant-responsible, except for coworking spaces where all expenses are included in the rent. The property is zoned BR-CD and is professionally managed, ensuring a well-maintained environment for tenants. This is a fantastic opportunity for businesses seeking a versatile and conveniently located space in a thriving community.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1964
Construction TYPE NOT SPECIFIED
Total area 32,000 SF
Lot 2.58 ac (112,388 SF)
APN 361-10-031
UPID US66-4383076

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Accounting Firm Tax Preparation
  • Alternative Medicine Practice Spa & Massage Center
  • Trucking Company
  • Training Center Vocational School
  • Physician

Location

398 W Bagley Rd Berea, OH 44017
Berea metro Census 134204 CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.26M
Blend (final) Blend
$725k

Owner & transaction history

since 2019
2 recorded transactions
2021
Price N/A
2019
$500,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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