398 Bagley RdBerea, OH 44017

Property Details for 398 Bagley Rd

Year built

1964

Construction

TYPE NOT SPECIFIED

Lot size

2.58 AC

Property size (Sq ft)

32,000 SF

Property type

Office properties

Property subtype

Office buildings

APN

361-10-031

APU

36110031

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $5,756,798

  6.5%

  $5,313,967

  7%

  $4,934,398

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,993,280

  Geo Method

  $2,993,280

• Alternative Use

  Use

  Valuation

  Residential

  $6,589,319

  Hospitality

  $6,035,780

  Educational

  $5,021,698

  Medical

  $5,194,402

  Retail

  $7,811,532

Location Insight

City

Berea

County

Cuyahoga

State

Ohio

Latitude

41.3732

Longitude

-81.8679

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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