8401 Chagrin Rd - Medical FOR SALE


Chagrin Falls, OH 44023
$9,125,000 USD
440-915-7902
8401 Chagrin Rd, Chagrin Falls, OH for Sale
$9,125,000 USD
Medical - FOR SALE
1/99
null | 8.6% Cap Rate

8401 Chagrin Rd
Chagrin Falls, OH 44023


HIGHLIGHTS

  • 2 Building, 98% Occupied, NNN Medical & Office Asset: Exceptionally Affluent Market: Average Household Incomes Over $200,000 Within a 5-Mile Radius!!
  • Consistent High Occupancy Trophy Asset: Meticulously Maintained with Prominent Monument Signage, Directly of Highway Being Sold by Original Developer
  • All Tenants on Preferred NNN Leases, Attractive 8.60% CAP Rate, Expected 10% Year-1 Cash-on-Cash Return with Many Tenants Having Built-In Increases
  • Great Mix of Long-Term Medical(40%+ NOI from Medical) & Quality Service-Oriented Recession-Proof Users: Renewals, Expansions & Leasing Traction
  • Top Rated Education System in US: Chagrin Falls High School Rated in Newsweek's & Consistently Top 100 Public School Systems in the USA | Blue Ribbon
  • Nicely Staggered Rent Roll: No Major Tenants Up for Near-Term Expirations w/ Tenured Tenants, Consistently Exercising Renewals & Newly Executed Leases

OVERVIEW

Request a Full Offering Memorandum: • 2 Building, 98% Occupied, NNN Office Asset: Exceptionally Affluent Market with Average Household Incomes Over $200,000 Within a 5-Mile Radius!! • Consistent High Occupancy Trophy Asset: Meticulously Maintained with Prominent Monument Signage and Being Sold by Original Developer • All Tenants on Preferred NNN Lease Structures, Attractive 8.60% CAP Rate, Expected 10% Year-1 Cash-on-Cash Return with Many Tenants Having Built-In Rental Increases Boosting Future Investment Returns • Below Market Rate for Owner Leased Co-Working Space Creating Additional Upside Potential • Great Mix of Long-Term Medical (40%+ NOI from Medical) and Other Service-Oriented Recession Proof Users: Recent Renewals, Extensions, Expansions and Leasing Activity, Proving Tenant Success, and Demand in the Market • Top Rated Education System in the US: Chagrin Falls High School Rated in Newsweek's "Complete List of Top U.S. Schools", and Has Been Named an "Excellent" Rating for Numerous Years that (Consistently Ranks in the Top 100 Public Schools in the Country), a Blue Ribbon District, and Regularly Ranked as a Top 10 District in Ohio, Along with Neighboring Kenston Local Schools in Bainbridge Ranked #15 in Ohio by U.S. News • Additional Income (Approx. $21,000) For Reserve Account Associated with Tenant Collections, a Financial Buffer for Improvements Included with Sale • Nicely Staggered Rent Roll with No Major Tenants Up for Near-Term Expiration, Along with Tenured Tenants, Who Have Consistently Exercised Renewals and Newly Executed Leases • Directly Off US-422 (Connecting to I-480 and I-271, Some of Cleveland’s Most Heavily Traveled Highways) with Highway Visibility from Over 37,100+ VPD and 33,000+ VPD at the Intersection of Chagrin Road and Route 306, Making Sets Winbury Aside From Competition Office Parks Due to the Ease of Access • Loads of Building Amenities: Some Separate/Private Entrances, Custom Designed Suites, High Speed Internet, Individual Temperature Controls, Automated Access, 24- Hour Security, Building Conference Room with Smart TV and Videoconference Capabilities • Located 4-Miles from the Nationally Known Historic Downtown Chagrin Falls, Offering Shopping, Dining, Festivals, Events, Which Includes The Blossom Time Festival, Art by the Falls and Chagrin Documentary Film Festival • Surrounded by High-Class Residential Communities and Luxury Living with the Recent Addition of Riverhaus Chagrin Falls of Brand-New Luxury Townhomes Overlooking the Chagrin River • Geauga County Ranked by Forbes Magazine as the “4th Best County in the Nation to Raise a Family” and in recent years, Chagrin Falls was named as ChamberOfCommerce.org “Ohio's Best City to Live” • Desirable Suburban Community with Short Commute (30 Miles) to Downtown Cleveland with Immediate Proximity to Several Colleges and Universities, National Retailers and High-Profile Companies, Along with Being 30 Miles to Cleveland Hopkins International Airport

FOR SALE DETAILS

PRICE

$9,125,000 USD

PRICE/SF

$322 USD /SF

CAP RATE

8.6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Must See NNN Trophy Medical/Prof. Ctr.| 8.6%

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

A

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

189

LAND DETAILS

LAND ACRES

5.2 AC

LAND SF

226,512 SF

ZONING

PO

APN/PARCEL ID

02-420829,02-420833

ASK ABOUT THIS PROPERTY

Daniel CooperCooper Commercial Investment GroupMore Info
440-915-7902

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Daniel CooperCooper Commercial Investment GroupMore Info
440-915-7902

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.