Industrial Flex
For Sale
$1,350,000
4891 Van Epps Road, Brooklyn Heights, OH 44131
CommercialSale, Brooklyn Heights, OH
Property Size21,000 SF
Lot Size1.03 Acres
Price / SF$64.29
Days on Market183
Property Features for 4891 Van Epps Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Off Street
Subdivision
Foote Estate
Elementary school district
Brooklyn CSD - 1807
Middle school district
Brooklyn CSD - 1807
High school district
Brooklyn CSD - 1807
Directions
Off W. Schaaf Rd
Standard status
Active
APN
531-04-014
Lot size
1.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
90 FOOTE EST NP 382.01FT N OF NYC RR 0006
Tax Annual Amount
19466
Legal Description
90 FOOTE EST NP 382.01FT N OF NYC RR 0006
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
reception area
conference room
employee lunch area
crane
Building Details
Year built
1953
Roof type
Flat
Listing Agency:
Keller Williams Citywide · Keller Williams Realty
(440) 892-2211
Listed By:
David M Reddy · License #2001006408
(216) 406-4746
Added: Mar 10
Changed: Aug 19
Last Checked: Sep 8 at 7:06AM
MLS# 5190566
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1953 industrial flex building combines approximately 21,000 square feet of office, warehouse, and manufacturing space on 1.03 acres. The office component measures approximately 6,300 square feet and includes reception, six private offices, a conference room, employee lunch area, and two storage rooms. The approximately 14,000-square-foot production and warehouse area includes two additional offices.
Industrial functionality includes a front loading dock with a 15-foot door, a 10-foot drive-through door, and a 1-ton crane. The building is equipped with 480 amp, 3-phase electric service, central air, forced-air natural gas heating, public water, and public sewer. Off-street parking accommodates approximately 15–20 vehicles. The property is currently occupied by a tenant with a 36-month lease term.
Industrial functionality includes a front loading dock with a 15-foot door, a 10-foot drive-through door, and a 1-ton crane. The building is equipped with 480 amp, 3-phase electric service, central air, forced-air natural gas heating, public water, and public sewer. Off-street parking accommodates approximately 15–20 vehicles. The property is currently occupied by a tenant with a 36-month lease term.
Key Highlights
- Approximately 21,000 sq. ft. industrial building on 1.03 acres
- Approximately 6,300 sq. ft. of office space with six private offices and conference room
- Approximately 14,000 sq. ft. warehouse/manufacturing area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$75,848
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,516,960
$1.5M
Cap Rate 7%
$1,083,543
$1.1M
Cap Rate 9%
$842,756
$842.8K
Market Conditions
NOI Build-Up for 21,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$123.5K $5.88/SF
− Vacancy
−$6.8K −$0.32/SF
EGI
$116.7K $5.56/SF
− OpEx
−$40.8K −$1.94/SF
NOI
$75.8K $3.61/SF
Area
Cuyahoga County, OH
Vacancy
5.50%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,516,960
Cap Rate 7%
$1,083,543
Cap Rate 9%
$842,756
Alternative Uses
Best Use
Warehouse
$16.83M
$14.72M – $19.63M
NOI $1,177,828 @ 7.0% cap · market cap 87.25%
Second Best
Industrial
$13.86M
$12.12M – $16.17M
NOI $969,976 @ 7.0% cap · market cap 71.85%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44131, OH
20,664
Population
8,861
Households
2.3
Avg Household Size
49
Median Age
40%
College-Educated
97%
High-School Grad
15.7 sq mi
ZIP Area
1,316
Density / Sq Mi
$98,838
Median Household Income
$59,474
Median Earnings
$1,512
Median Rent
$252,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Office, warehouse, and manufacturing areas are supported by substantial electrical service and multiple loading options.
Where is this flex space located?
The property is located at 4891 Van Epps Road Brooklyn Heights, OH.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Approximately 21,000 sq. ft. industrial building on 1.03 acres; Approximately 6,300 sq. ft. of office space with six private offices and conference room; Approximately 14,000 sq. ft. warehouse/manufacturing area
