524 E Washington St - Restaurant FOR SALE


Chagrin Falls, OH 44022- South Russell
$7,840,000 USD
440-915-7902
524 E Washington St, Chagrin Falls, OH for Sale
$7,840,000 USD
Restaurant - FOR SALE
1/15
null | 8.1% Cap Rate

524 E Washington St
Chagrin Falls, OH 44022
South Russell


HIGHLIGHTS

  • 100% Occupied, NNN, 3-Building Retail/Flex Asset: Exceptionally Affluent Market with Average Household Incomes Over $225,000
  • Long-Term Service-Oriented and Other Recession Proof Users Tenants: Recent Renewals, Extensions, Expansions and Leasing Activity
  • Top Rated Education System Countrywide: Chagrin Falls High School Rated in Newsweek's "Complete List of Top U.S. Schools"
  • Proven Asset: Many Tenants Have Been in Place For Years (20% for Over 10 Years) Consistently Exercising Renewals
  • Attractive Price/S.F. at Just Over $116/SF
  • Surrounded by High-Class Residential Communities and Luxury Living with the Recent Addition of Riverhaus Chagrin Falls of New Luxury Townhomes

OVERVIEW

Located in the charming town of South Russell, home to approximately 4,000 residents and is located at the western edge of Geauga County, Ohio. The village is a residential community with unique character and rural “at home” charm. South Russell students attend the highly acclaimed Chagrin Falls School System. There is a little bit of everything to everyone’s liking, from breathtaking scenery, high-end lifestyle, to delicious food scenes and culture. South Russell is adjacent to the well-known Village of Chagrin Falls and is located on the border in both Cuyahoga and Geauga Counties, a suburb of Cleveland in the Cleveland-Akron-Canton MSA, the 15th-largest Combined Statistical Area nationwide. South Russell/Chagrin Falls are just 28 miles from Cleveland Hopkins International Airport.

FOR SALE DETAILS

PRICE

$7,840,000 USD

PRICE/SF

$116 USD /SF

CAP RATE

8.1%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

100% Occupied, NNN Service-Oriented Mixed Use

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Distribution, Health Club, Light Distribution

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1958

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

5 AC

LAND SF

217,800 SF

ZONING

R-3A

APN/PARCEL ID

29-056100

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.