23611 Chagrin BlvdBeachwood, OH 44122

Chagrin Plaza, a prime Beachwood, Ohio office portfolio, presents a compelling value-add investment opportunity. This fee-simple property encompasses 123,404 square feet of office space distributed across three, three-story buildings situated on a 7.368-acre lot. Built in 1976 and renovated in 1997, the property boasts a Class C designation and features a modified lease structure with 55 tenants currently occupying 68% of the space. The asking price is $8,200,000, translating to $66.45 per square foot and a pro-forma cap rate of 10.98%, with a pro-forma NOI of $900,559. Ample parking is available, with 494 spaces per 1,000 square feet, including a heated underground garage with 187 spaces and a 352-space surface lot. The property benefits from a highly desirable location on Chagrin Boulevard in Cuyahoga County, with excellent access to I-271 and proximity to the Pavilion Shopping Center and the Van Aken District. Its commercial zoning allows for flexibility, presenting potential for redevelopment into a mixed-use property, given the strong multi-family market in the area. The property's interconnected buildings, substantial acreage, and strategic location make it an attractive investment for both office portfolio enhancement and mixed-use development. The property's APN numbers are 742-14-026, 742-15-011, 742-15-011, and 742-15-036. The land value is estimated at $1,113,000 per acre.