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Property profile & analytics
FOR LEASE
Manufacturing properties
5399 Lancaster Dr Brooklyn Heights, OH 44131
Individually Owned
16-yr Hold
~
Est. High Equity
Property ID
US66-4006640
For Lease
$1,900,000
5399 Lancaster Dr, Brooklyn Heights, OH 44131
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1989
Construction
TYPE NOT SPECIFIED
Total area
37,430 SF
Lot
2.66 ac (115,747 SF)
Zoning code
LI
APN
531-26-005
UPID
US66-4006640
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.37M
Comparable Approach
Comparable
$2.01M
Blend (final)
Blend
$1.90M
Owner & transaction history
Village Of Brooklyn Heights · 16 yrs held
Village Of Brooklyn Heights
since 2009
4 recorded transactions
Zoning & alternative use
LI · Brooklyn Heights, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.1M
+92.2%
Apartment house (5+ units)
$2.8M
+71.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Brooklyn Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn Heights submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,565,000
6.5%
$2,365,000
7%
$2,195,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,615,000
Current use
COMMERCIAL (GENERAL)
$3,100,000
Change: +92% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,770,000
Change: +72% · Conversion: Difficult
Blend value · Realmo final
$1.90M
Range $1.71M – $2.09M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$51 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$38,308
Tax year 2023
Assessed value
$625,320
Assessed 2023
Previous assessed
$625,320
+0.0% YoY
Effective rate
6.13%
On assessed value
Assessed land
$106,370
Assessed improvement
$518,950
Land market value
$303,900
Improvement market value
$1,482,700
Total market value
$1,786,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Lease
Year built
1989
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
NONE
Stories
1
Total area
37,430 SF
Lot
2.66 ac (115,747 SF)
Zoning code
LI
APN
531-26-005
UPID
US66-4006640
Jurisdiction
CUYAHOGA
Zoning & alternative use
LI · Brooklyn Heights, OH
Zoning LI · permitted uses
LI · Brooklyn Heights, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Brooklyn Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.8M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
Yes
Stories
1
Lot
2.66 ac
Current owner
From public records · entity-resolved
Village Of Brooklyn Heights
Individual
Mailing address
5399 LANCASTER DR, BROOKLYN HEIGHTS, OH 44131-1848
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2022
—
Resource Centre Associates LLC
—
Deed
related
$4,000,000 · First National Bank Of Pennsylvania
Sep 25, 2012
—
Resource Centre Associates LLC
—
Deed Of Trust
related
$2,025,000 · Thrivent Financial For Luthera
Oct 30, 2009
—
Village Of Brooklyn Heights
Resource Centre Associates LLC
Warranty Deed
related
—
—
—
Resource Centre Associates LLC
—
Deed Of Trust
related
$2,150,000 · Pnc Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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