Office Space - For Sale
24700 Chagrin Boulevard Beachwood, OH 44122
Details & Description
Call for Pricing
  • Property Type Office for Sale : Professional
  • Lot Size Acres 1.792
  • Building Sq Ft 31,792
  • Land Sq Ft 78,059
For sale is the 100% fee-simple interest in Commerce Park Plaza, an 80.25% leased office building in Beachwood, Ohio. Located at the prominent corner of Chagrin Boulevard and Commerce Park Drive, this generational-quality asset is available for sale for the first time by the original developer. The building boasts a quality mix of local and national tenants, including ground floor anchor US Bank, which has anchored the building for 27 years. The Chagrin Boulevard corridor is one of the most desirable suburban office submarkets in all of Ohio, and this property is located in the center of it all. There are over 55,634 daytime employees within just 3 miles of the property, and daily traffic at this intersection is 55,000 vehicles per day, both a testament to the activity in the marketplace. The owners installed a new entire-building boiler system in 2020 at a cost of over $100,000, offering significant benefit to the new owner. With nearly 20% vacancy, plenty of upside also exists in bringing the building to full occupancy. Recently, the City of Beachwood amended the zoning to allow for multi-family development above the first floor on this parcel as a conditional use, providing an owner flexibility for the future.
Listing Agents
Kyle Hartung

O: 216-381-8200
kyle@goodmanrealestate.com
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

24700 Chagrin Boulevard

Beachwood, OH 44122

Listing ID: 236539
Call for Pricing
For Sale
  • Property Type Office for Sale : Professional
  • Lot Size Acres 1.792
  • Building Sq Ft 31,792
  • Land Sq Ft 78,059
24700 Chagrin Boulevard Beachwood, OH 44122 | for Sale | Photo 1
Description

For sale is the 100% fee-simple interest in Commerce Park Plaza, an 80.25% leased office building in Beachwood, Ohio. Located at the prominent corner of Chagrin Boulevard and Commerce Park Drive, this generational-quality asset is available for sale for the first time by the original developer. The building boasts a quality mix of local and national tenants, including ground floor anchor US Bank, which has anchored the building for 27 years. The Chagrin Boulevard corridor is one of the most desirable suburban office submarkets in all of Ohio, and this property is located in the center of it all. There are over 55,634 daytime employees within just 3 miles of the property, and daily traffic at this intersection is 55,000 vehicles per day, both a testament to the activity in the marketplace. The owners installed a new entire-building boiler system in 2020 at a cost of over $100,000, offering significant benefit to the new owner. With nearly 20% vacancy, plenty of upside also exists in bringing the building to full occupancy. Recently, the City of Beachwood amended the zoning to allow for multi-family development above the first floor on this parcel as a conditional use, providing an owner flexibility for the future.

Beachwood Area Market Trends

Listing Demographics for 24700 Chagrin Boulevard Beachwood, OH 44122

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population3,34369,220227,300
Population Median Age454141
Population by Age0-9 Yrs355 (10%)8863 (12%)27003 (11%)
10-19 Yrs355 (10%)9194 (13%)28436 (12%)
20-29 Yrs221 (6%)7711 (11%)27671 (12%)
30-39 Yrs487 (14%)8226 (11%)28323 (12%)
40-49 Yrs393 (11%)7287 (10%)26538 (11%)
50-59 Yrs482 (14%)8390 (12%)29311 (12%)
60-69 Yrs367 (10%)8565 (12%)29101 (12%)
70+ Yrs683 (20%)10986 (15%)30917 (13%)
Median HH Income$94,044$70,640$55,516
Total Household Income< 24K142 (10%)5227 (18%)22749 (23%)
25-49K148 (10%)5458 (19%)21854 (22%)
50-74K257 (18%)4043 (14%)15953 (16%)
75-99K190 (13%)3207 (11%)11467 (11%)
100-199K354 (25%)6035 (21%)17092 (17%)
200K+292 (21%)4163 (14%)7961 (8%)
Highest Education LevelNo Diploma91226211672
Diploma or GED462842636278
Some College349842433067
Assoc. Degree107304412629
Bachelors Degree5611102831462
Higher Degree10021412633367
Total Housing Units1,55031,246111,369
--Owner-Occupied97217,34659,351
--Renter-Occupied40910,78637,727
Owner-Occupied Values< 100K57406522832
100-199K84423719633
200-299K33034296977
300-399K27522423775
400-499K12416162553
500K+10117553582
Total Working Age Population2,79855,281183,657
In Work Force1,73934,661115,690
Not In Work Force1,06020,61967,967
Workforce Employed1,68332,419106,775
Workforce Unemployed552,2418,847
Civlian Workforce1,73934,660115,623
Military Workforce0167
Total Households1,38128,13297,078
Family Households89717,65757,343
Non-Family Households48510,47539,734
Married Couple68612,29136,078
Other Family2105,36621,265
Married w/Child2904,81313,056
Single Male w/Child343041,638
Single Female w/Child952,4778,513

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Ohio11,353,140+211,536,504011,574,870011,615,100
Cuyahoga County1,393,978-81,280,122-61,209,550-51,154,210

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Listing Location & Map Views
Demographic Radii
Points of Interest
Traffic Counts
POIs provided for entertainment purposes only. Data comes from multiple data sources as well as users and agents. MyEListing makes no claims whatsoever as to the accurancy and/or completeness.
 
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23215 Commerce Park, Beachwood, OH $3,800,000 35518 1.74
3800 Park East Drive, Beachwood, OH CALL 140015 3.61
3681 Green Road, Beachwood, OH $4,395,000 38183 1.41
29325 Chagrin Boulevard, Beachwood, OH CALL 6468 2.01
4625 Richmond Road, Warrensville Heights, OH CALL 4800 0.58
5185 Richmond Road, Bedford Heights, OH CALL 85760 3.95
2218 Lee Road, Cleveland Heights, OH $395,000 4469 0.3
6105 Parkland Boulevard, Cleveland, OH CALL 50000 4
5919 Mayfield Road, Mayfield Heights, OH CALL 23100 1.27
776 Broadway Avenue, Bedford, OH $194,900 2250 0.16
Closest Commercial Airports
Airport Distance (mi)
Cleveland Hopkins International Airport (CLE) 18
Erie International Tom Ridge Field (ERI) 81
Pittsburgh International Airport (PIT) 94
Listing Agent
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