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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4559 Van Epps Rd Brooklyn Heights, OH 44131-1009

    • Commercial real estate
    • 2,404 SF
    • 7.81 lot acres
    OFF-MARKET
    Value Estimations
    $170,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0435968
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 4559 Van Epps Rd

    Year built
    1940
    Construction
    FRAME
    Lot size
    7.81 lot acres
    Property size
    2,404 SF
    Zone code
    LI
    Property type
    Commercial real estate
    APN
    531-01-002
    APU
    53101002

    Description

    This exceptional 7.8-acre commercial property in Brooklyn Heights, Ohio, presents a unique investment opportunity. Priced at $650,000, the property boasts a 1,778 square foot flex space within two existing buildings constructed in 1940. Its prime location offers convenient access to I-480 and I-77, ensuring seamless transportation. The property sits on a tranquil parkway setting, yet benefits from its proximity to other industrial businesses. Public utilities are readily available, minimizing operational complexities. The substantial lot size provides ample space for expansion or redevelopment, making it ideal for a variety of commercial ventures. The property's address is 4559 Van Epps Rd, Brooklyn Heights, OH 44131, and its APN is 531-01-002. This offering includes one unit and presents a rare chance to acquire a well-situated industrial property in a thriving commercial area. The existing structures offer a versatile foundation for immediate use or future development, making this a truly compelling investment prospect. Don't miss this chance to secure a significant piece of commercial real estate in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $170,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $200,000
      Current use
      MEDICAL BUILDING
      $260,000
      Change: +31% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $245,000
      Change: +22% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $215,000
      Change: +7% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6708
    Latitude
    41.4325
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,211
    $83,270
    $36,120
    $119,390
    -
    $237,900
    $103,200
    $341,100

    Comparable in this City

    • Value Estimation
      $245,000
      3.11 Acres

      900 Granger Rd

      COMMERCIAL (GENERAL) • 3.11 Acres
      900 Granger Rd, Brooklyn Heights, OH 44131-6712
      View Details
    • Value Estimation
      $235,000
      1,782 SF

      4003 Chestnut Rd

      COMMERCIAL (GENERAL) • 1,782 SF
      4003 Chestnut Rd, Independence, OH 44131-3700
      View Details
    • Value Estimation by Request

      4114 Rockside Rd

      Land
      4114 Rockside Rd, Seven Hills, OH 44131
      View Details
    • Value Estimation
      $190,000
      824 SF

      7324 Vly Vw Dr

      COMMERCIAL (GENERAL) • 824 SF
      7324 Vly Vw Dr, Independence, OH 44131-3428
      View Details
    • Value Estimation
      $270,000
      1,750 SF

      215 Schaaf Rd

      COMMERCIAL (GENERAL) • 1,750 SF
      215 Schaaf Rd, Brooklyn Heights, OH 44131-1204
      View Details
    • Value Estimation by Request
      26,690 SF

      6100 Oak Tree Blvd

      Office space • 26,690 SF
      6100 Oak Tree Blvd, Independence, OH 44131
      View Details

    Similar Nearby for Sale

    • $800,000
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    • $3,250,000
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      65,000 SF Industrial Building

      65,000 SF industrial building on 4.093 AC available.
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      3.31 acre vacant lot to build your dream home.
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      Land For Sale Independence, OH

      3.13 acre land parcel available in Independence, Ohio.
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    • $179,000
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      Residential Lot in Independence, OH

      Ready-to-build residential lot in a desirable suburban location.
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    Similar Nearby for Lease

    • Contact for pricing
      4,293 SF

      Flex Space with Office Component

      Sublease space featuring drive-in bay, loading dock, and office.
      210 Hayes Dr, Brooklyn Heights, OH 44131
      View Details
    • $18 SF/Yr
      7,714 SF

      Renovated Office Space Available

      Suites available with freeway access and nearby amenities.
      6100 Rockside Woods Blvd, Independence, OH 44131
      View Details
    • Contact for pricing
      2,800 SF

      Retail Space on Rockside Road

      Retail spaces available in Independence, Ohio near Rockside Road.
      6700 Rockside Rd, Independence, OH 44131
      View Details
    • Contact for pricing
      420 SF

      Class A Office Space Available

      Available Class A office space with amenities on Rockside Corridor.
      6050-6150 Oak Tree Blvd | Independence, Independence, OH 44131
      View Details
    • $21 SF/Yr
      122,000 SF

      Spectrum Building: Independence Office Space

      Class A Office Suites, Rockside Corridor
      6060 Rockside Woods Blvd, Independence, OH 44131
      View Details
    • Contact for pricing
      1,518 SF

      Independence Office Space For Rent

      Office space available for rent in Independence, Ohio.
      6050 Oak Tree Blvd, Independence, OH 44131
      View Details
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    4559 Van Epps Rd
    Brooklyn Heights, OH 44131-1009
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    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
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