Chagrin Lee Plaaza FOR SALE


Shaker Heights, OH
$4,700,000 USD
248-351-6315
, Shaker Heights, OH for Sale
$4,700,000 USD
FOR SALE
1/30
null | 6.64% Cap Rate

Chagrin Lee Plaaza
Shaker Heights, OH


HIGHLIGHTS

  • Hard corner location at Chagrin Boulevard and Lee Road
  • Stand-alone Walgreens location (Potential arbitrage spin off for next owner)
  • Well occupied center with stable rent roll
  • Potential to purchase at a PSF price below replacement cost
  • Bank of America drive-thru location

OVERVIEW

NAI Farbman and NAI Pleasant Valley are pleased to present Chagrin Lee Plaza, a 52,506 SF mixed use property consisting of high-quality retail space (and limited office/medical space) in addition to a standalone Walgreens. Nestled at a prime hard corner location along Chagrin Boulevard and Lee Road, adjacent to the bustling Shaker Town Center, the property is currently 95% occupied and has an NOI of $312,192. Aside from the building’s excellent location, the property is home to tenants that are logical for the area given the surrounding demographics. The property has plentiful parking, and the standalone Walgreens location allows for a potential separate spin off opportunity for the next owner.

ASK ABOUT THIS PROPERTY

Todd SzymczakNAI FarbmanMore Info
248-351-6315

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Todd SzymczakNAI FarbmanMore Info
248-351-6315

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