Chagrin Lee Plaza
16400-16500 Chagrin Boulevard
Shaker Heights, OH 44120
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
Description
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.
Located on the corner of Chagrin Boulevard and Lee Road.
