Map of Property

Chagrin Lee Plaza

For Sale

16400-16500 Chagrin Boulevard, Shaker Heights, OH 44120

This Shaker Heights property for sale is located at 16400-16500 Chagrin Boulevard. The current listed sale price for Chagrin Lee Plaza is $5,195,000.

Contacts

broker

Bill Bubniak

NAI Farbman

(248) 351-4379

Property Details

  • Property Type Retail - Street Retail
  • Property Size 52,506 SF
  • Property Tenancy Multi-Tenant
  • Year Built 1994
  • Date Updated Apr 8, 2024
Located on the corner of Chagrin Boulevard and Lee Road.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 $337,620. 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.

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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

Attachments

Getting around

  • 70/100

    Walk Score ®

  • 50/100

    Transit Score ®

  • 56/100

    Bike Score ®

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Location

  • City Shaker Heights, OH
  • Neighborhood Moreland
  • Zip Code 44120
  • Market Cleveland Akron

Points of Interest

  • Lee–Van Aken

    0.20 miles

  • Kenmore

    0.69 miles

  • Lynnfield

    1.08 miles

  • Warrensville–Van Aken

    1.49 miles

  • Coventry

    1.63 miles

  • Warrensville–Shaker

    1.84 miles

  • Shaker Square

    1.90 miles

  • East 116th–St. Luke’s

    2.37 miles

  • Green Road

    2.72 miles

  • Buckeye–Woodhill

    2.99 miles

  • BP

    0.95 miles

  • Shell

    1.00 miles

  • Marathon

    1.50 miles

  • BP

    1.63 miles

  • Marathon

    1.87 miles

  • Sunoco

    1.90 miles

  • BP

    2.05 miles

  • BP

    2.28 miles

  • Shell

    2.28 miles

  • Marathon

    2.30 miles

  • Cleveland Heights Library Parking

    2.20 miles

  • Parking Cleveland Heights Library

    2.24 miles

  • Municipal Lot 16

    2.30 miles

  • Municipal Lot 17

    2.34 miles

  • Municipal Lot 18

    2.43 miles

  • Municipal Lot 23

    2.46 miles

  • Municipal Lot 5

    2.52 miles

  • Grasselli Lot

    2.55 miles

  • Municipal Lot 34

    2.56 miles

  • JACK Thistledown Racino Parking Garage

    2.57 miles

  • Subway

    0.22 miles

  • Popeyes

    0.64 miles

  • Rally's

    0.88 miles

  • Happy's Pizza

    0.90 miles

  • Burger King

    0.96 miles

  • Little Caesars

    1.07 miles

  • Epic Restaurant

    1.08 miles

  • Subway

    1.11 miles

  • Fu Sheng

    1.11 miles

  • Taco Bell

    1.13 miles

  • Heinen's

    0.17 miles

  • Save-A-Lot

    0.80 miles

  • Dave's

    1.09 miles

  • Miles Supermarket

    1.73 miles

  • Dave's Supermarket

    1.84 miles

  • Aldi

    2.20 miles

  • Simon's

    2.34 miles

  • International Foods

    2.73 miles

  • Dave's Supermarket

    2.90 miles

  • Zagara's Marketplace

    2.97 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Bill Bubniak

NAI Farbman

(248) 351-4379