3655 Orange PlBeachwood, OH 44122

Property Details for 3655 Orange Pl

Year built

1983

Construction

TYPE NOT SPECIFIED

Lot size

2.26 AC

Property size (Sq ft)

7,534 SF

Zone code

U-4A

Property type

Retail properties

Property subtype

Turn key restaurants

APN

901-01-064

APU

90101064

Description

This exceptional 2.25-acre property presents a unique opportunity for a single-tenant restaurant or retail operation, or a combination of both. Ideally situated between the Chagrin Boulevard and Harvard Road interchanges on I-271, this location boasts approximately 300 feet of frontage, providing excellent visibility and accessibility. The site is zoned U-4A Motorist Service District, allowing for flexible use and development options. This high-traffic area is part of one of Ohio's most desirable trade areas, known for its affluent demographics and strong consumer spending. Nearby businesses include established high-end retailers such as REI, Whole Foods, Silverspot Cinema, Tiffany & Co., Apple, and a soon-to-open Restoration Hardware (a 20 million dollar addition opening March 2024). The property's strategic location is further enhanced by its proximity to a new Porsche dealership (6-acre site) and the Pinecrest shopping center. Future development in the immediate vicinity includes an approved single-family residential development behind the site and an approved development of over 200 units for residents 55 and older at Harvard and Orange Place. This presents a compelling investment opportunity in a thriving and upscale community.

• CAP approach

  CAP return

  Valuation

  6%

  $1,992,388

  6.5%

  $1,839,127

  7%

  $1,707,761

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,775,920

  Geo Method

  $1,775,920

• Alternative Use

  Use

  Valuation

  Residential

  $1,551,373

  Hospitality

  $1,421,049

  Educational

  $1,182,296

  Medical

  $1,222,957

  Retail

  $1,839,127

Location Insight

City

Beachwood

County

Cuyahoga

State

Ohio

Latitude

41.4597

Longitude

-81.4873

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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