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Building Details

Building Size 29,166 SF

Year Built 1971

Units 2

Listed By: Matt Kovesdy · License #2016005440 (OH) Show Phone

Source: Matthews

Added: Aug 22 Changed: Sep 14 Last Checked: Oct 14 at 7:33PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matt Kovesdy

Investment Insights

Based on property information with market context.

Built in 1971, this flex industrial building combines office, warehouse, and light manufacturing functionality. The property is 100% occupied and includes one dock door, 18-foot clear height, and three-phase power, providing practical features for industrial users and goods movement.

Located at 5060-5068 Corbin Dr in Bedford Heights, Ohio, the property offers direct access to I-480 and I-271. Its position within the greater Cleveland area connects the asset to regional distribution networks and the Bedford Heights industrial and flex market.

Key Highlights

• 100% occupied flex industrial building
• One dock door with 18‑foot clear height
• Three‑phase power service

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$105,341

Cap Rate

4.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,106,820 $2.1M

Cap Rate 7%

$1,504,871 $1.5M

Cap Rate 9%

$1,170,456 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 29,166 SF

Gross rent

$171.5K $5.88/SF

− Vacancy

−$9.4K −$0.32/SF

EGI

$162.1K $5.56/SF

− OpEx

−$56.7K −$1.94/SF

NOI

$105.3K $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 Rate 5%

$2,106,820

Cap Rate 7%

$1,504,871

Cap Rate 9%

$1,170,456

Alternative Uses

Best Use

Warehouse

$23.37M

$20.45M – $27.26M (±1% cap)

NOI $1,635,835 @ 7.0% cap · market cap 74.36%

Second Best

Industrial

$19.25M

$16.84M – $22.45M (±1% cap)

NOI $1,347,158 @ 7.0% cap · market cap 61.23%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Skin Care Clinic Garden Center Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

18 ft

Clear height

1

Dock-high doors

100%

Occupancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

586

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 44128, OH

28,146

Population

14,184

Households

2

Avg Household Size

41

Median Age

18%

College-Educated

90%

High-School Grad

8.8 sq mi

ZIP Area

3,198

Density / Sq Mi

$44,615

Median Household Income

$32,719

Median Earnings

$957

Median Rent

$90,200

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Similar Off Market Nearby

• Caterology — 23050 Miles Rd, Bedford Heights, OH 44128

Frequently Asked Questions

What type of property is this?

Flex space - Dock access and three-phase power support warehouse and light manufacturing operations.

Where is this flex space located?

The property is located at 5060-5068 Corbin Dr Bedford Heights, OH.

What is the asking price?

The asking price for this property is $2,200,000.

What are key features of this property?

This property features: 100% occupied flex industrial building; One dock door with 18‑foot clear height; Three‑phase power service