Flex Space with Warehouse and
For Sale
$455,000
590 Pearl Road, Brunswick, OH 44212
General Commercial zoning supports a combined office and warehouse configuration.
Property Size4,920 SF
Lot Size0.66 Acres
Price / SF$92.48
Days on Market194
Property Features for 590 Pearl Road
General Information
Standard status
Active
Size
4,920 SF
Total Parking Spaces
20
Lot size
0.66 Acres
Property subtype
Industrial
Zoning
C-G
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
15 ft
Warehouse Space
3,000 SF
Office Build-Out
1,920 SF
Drive-In Doors
1
Power
200 amps
Three-Phase Power
Yes
Building Details
Building Size
4,920 SF
Buildings
1
Listing Agency:
Gerspacher Real Estate Group
(216) 780-9975
Listed By:
Sheila Miu · License #SAL2022006764
(216) 780-9975
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 11:36PM
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 Gerspacher Real Estate Group
Investment Insights
Based on property information with market context.
This flex property combines 1,920 SF of office space with a 3,000 SF warehouse on a 0.66-acre parcel. The office component includes four private offices, two bullpen areas, a kitchenette, and two restrooms. Warehouse improvements include an air-conditioned shop office, one 10' x 12' ground-level door, and ceiling heights between 11.4 and 15 feet.
The property has approximately 80 feet of Pearl Road frontage and about 334 feet of depth. Paved parking accommodates approximately 20 cars, while the building is served by 3-phase, 200 AMP power. General Commercial zoning applies to the site. The property is approximately 3.8 miles from I-71 and 7 miles from the OH Turnpike, with access toward Cleveland, Columbus, Akron, and Cleveland Hopkins Airport.
The property has approximately 80 feet of Pearl Road frontage and about 334 feet of depth. Paved parking accommodates approximately 20 cars, while the building is served by 3-phase, 200 AMP power. General Commercial zoning applies to the site. The property is approximately 3.8 miles from I-71 and 7 miles from the OH Turnpike, with access toward Cleveland, Columbus, Akron, and Cleveland Hopkins Airport.
Key Highlights
- 4,920 SF flex building on a 0.66‑acre lot
- Office component totals 1,920 SF with 4 private offices and 2 bullpen areas
- 3,000 SF warehouse with ceiling heights ranging from 11.4'-15'
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
$22,269
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
4.89%
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%
$445,380
$445.4K
Cap Rate 7%
$318,129
$318.1K
Cap Rate 9%
$247,433
$247.4K
Market Conditions
NOI Build-Up for 4,920 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
$27.4K $5.57/SF
− Vacancy
−$1.2K −$0.25/SF
EGI
$26.2K $5.32/SF
− OpEx
−$3.9K −$0.80/SF
NOI
$22.3K $4.53/SF
Area
Medina County, OH
Vacancy
4.40%
Lease Rate
$5.57 /SF/Yr
Expense Ratio
15.00%
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%
$445,380
Cap Rate 7%
$318,129
Cap Rate 9%
$247,433
Alternative Uses
Best Use
Office B
$861.7K
$754.0K – $1.01M
NOI $60,318 @ 7.0% cap · market cap 13.26%
Second Best
Warehouse
$318.1K
$278.4K – $371.2K
NOI $22,269 @ 7.0% cap · market cap 4.89%
Theoretical Best
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $96,063 @ 7.0% cap · market cap 21.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44212, OH
45,749
Population
19,101
Households
2.4
Avg Household Size
42
Median Age
30%
College-Educated
93%
High-School Grad
21.0 sq mi
ZIP Area
2,179
Density / Sq Mi
$87,776
Median Household Income
$49,175
Median Earnings
$1,135
Median Rent
$244,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - General Commercial zoning supports a combined office and warehouse configuration.
Where is this flex space located?
The property is located at 590 Pearl Road Brunswick, OH.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: 4,920 SF flex building on a 0.66‑acre lot; Office component totals 1,920 SF with 4 private offices and 2 bullpen areas; 3,000 SF warehouse with ceiling heights ranging from 11.4'-15'
