Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Flexible Office/Warehouse Space Available Title is generated by Realmo AI

    5399 Lancaster Dr, Brooklyn Heights, OH 44131

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Modern office, warehouse, and flex space near major freeways.

    Type:Industrial
    Added:
    Dec 14, 2022
    Days on Market:
    1249
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 5399 Lancaster Dr

    General Information

    Standard status
    Active
    Property subtype
    Industrial

    Spaces For Lease

    at 5399 Lancaster Dr Contact us

    We can help!

    Listing Contact
    Tom Blaz

    Listing agent Tom Blaz License #OH 2012000037

    Listing office Ray Fogg Corporate Properties, LLC

    Listing date Dec 14, 2022

    Source Crexi

    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 Ray Fogg Corporate Properties, LLC

    HighLights

    • Strategically located near major freeways (I‑77, I‑480, Rt. 176, I‑90, I‑71, I‑490, I‑80) for easy access.
    • Offers flexible floor plans to suit tenant needs.
    • Provides truck access for warehouse/industrial use.
    • Located in Brooklyn Heights, a Cleveland suburb.
    • Offers flexible lease terms.
    • Provides expansion opportunities for growing customers.

    Overview

    Resource Business Centre I, II, III and IV, located in Brooklyn Heights, Ohio, offers modern office, warehouse, and flex space. The properties are strategically located near major freeways in northeast Ohio, with easy access to I-77 and I-480, and within minutes of Rt. 176, I-90, I-71, I-490, the Ohio Turnpike (I-80), downtown Cleveland and Cleveland Hopkins Airport. The buildings are designed to easily modify floor plans and truck access to suit the needs of each tenant, offering flexible floor plans, truck access and lease terms, as well as expansion opportunities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Law Firm Building Supply Hair Salon Auto Repair Shop Big Box & Wholesale Store Nail Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6646929
    Latitude
    41.4140728

    Nearby Similar for Lease

    • $5 SF/Yr
      12,500 SF

      Warehouse with Crane and Racking

      Clean warehouse space featuring crane, racking, and remodeled offices.
      4928 Schaaf Ln, Brooklyn Heights, OH
      View Details
    • Contact for pricing
      10,224 SF

      Brooklyn Heights Flex/Industrial/Office Space

      Versatile 10,224 SF flex, industrial, and office space for rent.
      950 Keynote Cir, Brooklyn Heights, OH
      View Details
    • $6 SF/Yr
      16,650 SF

      Modern Industrial Space For Lease

      Modern industrial facility with high ceilings and convenient highway access.
      240 Tuxedo Ave, Brooklyn Heights, OH
      View Details
    • $6 SF/Yr
      11,724 SF

      Freestanding Light-Industrial Flex Facility

      11,724 SF flex space with office and warehouse areas.
      4650 Spring Rd, Brooklyn Heights, OH
      View Details
    • Contact for pricing
      6,500 SF

      Valley Business Park Flex Space

      Flex space in Valley Business Park, Brooklyn Heights, OH.
      5399 Lancaster Dr, Brooklyn Heights, OH
      View Details
    • Contact for pricing
      7,078 SF

      Brooklyn Heights Warehouse Space Available

      7,078 SF warehouse with office space near I-480.
      100 Hayes Dr, Brooklyn Heights, OH
      View Details
    • Contact for pricing

      Commercial Property for Lease

      Commercial property available for lease in Brooklyn Heights, OH.
      4605 Spring Road, Brooklyn Heights, OH 44131
      View Details
    • Contact for pricing
      40,400 SF

      Industrial Distribution Facility in Brooklyn Heights

      Industrial and distribution facilities with front loading truck access.
      990 Valley Belt Rd, Brooklyn Heights, OH
      View Details
    • Contact for pricing

      Office Space for Rent

      Office space available for rent in Brooklyn Heights, OH.
      925 Keynote Circle, Brooklyn Heights, OH, USA, Brooklyn Heights, OH, 44131
      View Details
    • Contact for pricing
      4,240 SF

      Brooklyn Heights Flex/Industrial Space

      Flex/industrial space available for lease in Brooklyn Heights, OH.
      4906-4920 Van Epps Rd, Brooklyn Heights, OH
      View Details
    • $6 SF/Yr
      51,825 SF

      Brooklyn Heights Warehouse Space Available

      High cube warehouse and office space for lease.
      4639 Van Epps Rd, Brooklyn Heights, OH
      View Details
    • Contact for pricing
      12,000 SF

      Brooklyn Heights Office Space

      Office space available for rent in Brooklyn Heights, Ohio.
      984 Keynote Cir, Brooklyn Heights , OH
      View Details

    FAQs

    What type of property is this?
    Flex space - Modern office, warehouse, and flex space near major freeways.
    Where is this flex space located?
    The property is located at 5399 Lancaster Dr Brooklyn Heights, OH.
    What are key features of this property?
    This property features: Strategically located near major freeways (I‑77, I‑480, Rt. 176, I‑90, I‑71, I‑490, I‑80) for easy access.; Offers flexible floor plans to suit tenant needs.; Provides truck access for warehouse/industrial use.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tom Blaz
    Real Estate License ID: OH 2012000037
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    5399 Lancaster Dr, Brooklyn Heights, OH 44131
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!