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40,700 SF Rare Anchor Big Box on 3.21 Acres 23949 Chagrin Blvd 40,700 SF Retail Building Beachwood, OH 44122 $3,450,000 ($84.77/SF)
Investment Highlights
- Sale Price: $3,450,000 (A $400,000 Price Reduction!)
- Rare anchor store box purchase opportunity in one of the best retail and demographic markets in Northern Ohio
- Loading: 2 recessed truck wells
- Shadow anchored by Pavilion Shopping Center
- Value Add: future potential outlot opportunity
- High traffic counts of 25,800 VPD on Chagrin Blvd (source ODOT TIMS)
Executive Summary
• Ceiling heights:
— South wall: The bottom of joist is approximately 17'-11", and bottom of deck is approx. 19'-8 3/4" (south is the front of the store facing Chagrin). North wall: The bottom of joist is 16'-3", and 18' to the bottom of the deck (north is the rear of the store) - the roof slopes from front to back (building has internal roof drains).
• Zoned: U-4A integrated Business
— Permitted uses include general retail, hotel, multifamily with ground floor retail, childcare, fitness and more
— The property is subject to the Pavilion CCR's and would require consent from the neighboring owner
— PPN: 74215035 (Cuyahoga County)
• The site is located in the heart of the Beachwood MSA, the market features:
— Retail: High-end retail, featuring Ohio's only Saks, Cleveland's only Nordstrom, Restoration Hardware Mansion, Tiffany, Apple, Whole Foods, Warby Parker and many more
— Office: Over 5m SF office space with 6 Fortune 500 Companies in the east side office district
— Medical: Minutes from University Hospital Ahuja hospital, which underwent a $236m expansion in '24
— Hotels: Over 15 hotels with over 2,000 keys
— South wall: The bottom of joist is approximately 17'-11", and bottom of deck is approx. 19'-8 3/4" (south is the front of the store facing Chagrin). North wall: The bottom of joist is 16'-3", and 18' to the bottom of the deck (north is the rear of the store) - the roof slopes from front to back (building has internal roof drains).
• Zoned: U-4A integrated Business
— Permitted uses include general retail, hotel, multifamily with ground floor retail, childcare, fitness and more
— The property is subject to the Pavilion CCR's and would require consent from the neighboring owner
— PPN: 74215035 (Cuyahoga County)
• The site is located in the heart of the Beachwood MSA, the market features:
— Retail: High-end retail, featuring Ohio's only Saks, Cleveland's only Nordstrom, Restoration Hardware Mansion, Tiffany, Apple, Whole Foods, Warby Parker and many more
— Office: Over 5m SF office space with 6 Fortune 500 Companies in the east side office district
— Medical: Minutes from University Hospital Ahuja hospital, which underwent a $236m expansion in '24
— Hotels: Over 15 hotels with over 2,000 keys
Property Facts
Sale Type
Owner User
Property Type
Retail
Property Subtype
Building Size
40,700 SF
Building Class
B
Year Built
1974
Price
$3,450,000
Price Per SF
$84.77
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.29
Lot Size
3.21 AC
Zoning
U-4A - U-4A Integrated Business
Parking
800 Spaces (19.66 Spaces per 1,000 SF Leased)
Frontage
212’ on Chagrin Blvd
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
Nearby Major Retailers
Property Taxes
| Parcel Number | 742-15-035 | Improvements Assessment | $627,760 (2024) |
| Land Assessment | $369,740 (2024) | Total Assessment | $997,500 (2024) |
Property Taxes
Parcel Number
742-15-035
Land Assessment
$369,740 (2024)
Improvements Assessment
$627,760 (2024)
Total Assessment
$997,500 (2024)
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40,700 SF Rare Anchor Big Box on 3.21 Acres | 23949 Chagrin Blvd
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