Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2001 Aerospace Pkwy Brook Park, OH 44142

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $12 SF/Yr ($17,908 /Mo)

    Flexible office space in Brook Park's Aerospace Technology Park.

    Property size:
    17,908 SF
    Lot size:
    17,908 SF

    Property Features for 2001 Aerospace Pkwy

    General Information

    Size
    17,908 SF

    We can help!

    Listing Contact
    Robert Leibold
    Source: Cbre

    Listing Agent: Robert Leibold

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Office Space in Aerospace Park

    This property, situated within the Aerospace Technology Park in Brook Park, Ohio, offers flexible floor plans. The layout includes private offices, conference and training rooms, and open office areas. The Park's location is adjacent to NASA’s Glenn Research Facility and near Cleveland Hopkins Airport. It also provides convenient access to I-71 and I-480, with hotels, restaurants, and shopping areas in close proximity. The property size is 17908 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Gym & Fitness Center Auto Parts Store Department Store Accounting Firm Cafe & Coffee Shop Car Rental Facility Daycare Center Arcade & Gaming Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brook Park
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8707909
    Latitude
    41.4045274

    Nearby Similar for Lease

    • $26 SF/Yr
      2,334 SF

      Medical Office Space Available

      Medical office space for lease with tenant improvement packages.
      15800-15900 Snow Rd, Brook Park, OH 44142
      View Details
    • $960,000

      Freestanding Biggby Coffee & PNC

      Freestanding Biggby Coffee & PNC ATM building for rent.
      15344 Snow Rd, Brook Park, OH 44142
      View Details
    • $17 SF/Yr
      15,923 SF

      Office Space in Aerospace Park

      Flexible office space in Brook Park's Aerospace Technology Park.
      2000 Aerospace Pkwy, Brook Park, OH 44142
      View Details
    • $12 SF/Yr
      26,892 SF

      Office/Lab Building Near NASA Glenn

      High-image office/lab space in Aerospace Technology Park.
      3000 Aerospace Pkwy, Brook Park, OH 44142
      View Details
    • $26 SF/Yr
      6,058 SF

      Brook Park Medical Center Office

      Medical office space available in Brook Park, Ohio.
      15900 Snow Rd, Brook Park, OH 44142
      View Details
    • Contact for pricing
      50,000 SF

      Brook Park Warehouse Opportunity

      50,000 SF build-to-suit warehouse near airport and NASA.
      20600 Sheldon Rd, Brook Park, OH 44124
      View Details
    • Contact for pricing
      61,145 SF

      Warehouse with Outside Storage

      Warehouse space with functional office and outside storage.
      19100 Holland Rd, Brook Park, OH 44142
      View Details
    • Contact for pricing
      7,724 SF

      Brookpark Warehouse Space Available

      7,724 SF warehouse space with docks and drive-in door.
      6519 Eastland Rd, Brook Park, OH 44142
      View Details
    • Contact for pricing
      143,000 SF

      High Cube Industrial Building

      364,000 SF Class A industrial building with highway access.
      18300 Snow Rd, Brook Park, OH 44130
      View Details
    • Contact for pricing
      7,650 SF

      Industrial Space Near Airport

      Industrial property for lease near Cleveland Hopkins International Airport.
      1000-3000 Apollo Dr, Brook Park, OH 44142
      View Details
    • $11 SF/Yr
      208,000 SF

      Brookgate Shopping Center: Retail Opportunity

      Established center, multiple spaces available.
      5875 Smith Rd, Brook Park, OH 44142
      View Details

    FAQs

    What type of property is this?
    Office units - Flexible office space in Brook Park's Aerospace Technology Park.
    Where is this office units located?
    The property is located at 2001 Aerospace Pkwy Brook Park, OH.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: - Flexible floor plans with private offices, conference/training rooms, and open office space.; - Located in Aerospace Technology Park adjacent to NASA Glenn Research Facility.; - Close proximity to Cleveland Hopkins Airport.
    (216) 363-6449
    Request Owner's contact information
    2001 Aerospace Pkwy Brook Park, OH 44142
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2001 Aerospace Pkwy
    Brook Park, OH 44142
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2001 Aerospace Pkwy Brook Park, OH 44142
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Robert Leibold
    (216) 363-6449
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!