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

    8700 Brookpark Rd Parma, OH 44129

    • Manufacturing properties
    • 806 SF
    • 22.88 lot acres
    For Lease
    View listing
    $3 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2172403
    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

    • Harvest Net Institute / Church / Mosque
    • Valley College / College
    • VE Solutions / Big Box & Wholesale Store
    • Brick House Realty / Real Estate Agency
    • Amana Distributor / Distribution Center / Logistics Company

    Property Details for 8700 Brookpark Rd

    Year built
    2003
    Lot size
    22.88 lot acres
    Property size
    806 SF
    Zone code
    G-B
    Property type
    Manufacturing properties
    APN
    433-19-004
    APU
    43319004

    Description

    This exceptional 400,000 square foot industrial property, located at 8700 Brookpark Road in Parma, Ohio (Cuyahoga County, zip code 44129), presents a unique opportunity for multiple tenants. Situated on a substantial 23-acre lot, this Class B building offers flexible space options, ideal for manufacturing, flex, warehouse, distribution, or R&D uses. The property boasts a minimum divisible space of 4,500 square feet, with a maximum contiguous space of 300,000 square feet, catering to a wide range of business needs. Built in 1955, the building features varying ceiling heights ranging from 14 to 25 feet, providing ample vertical space. Efficient operations are ensured with 8 loading docks and 4 drive-in doors. The property is equipped with heavy power to support demanding industrial processes. Its strategic location on Brookpark Road, between Tiedeman and Ridge Roads, offers excellent accessibility and visibility. This well-maintained facility presents a compelling opportunity in a low-tax community. The property is multi-tenant.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7475
    Latitude
    41.42
    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
    $155,346
    $881,860
    $946,930
    $1,828,790
    -
    $2,519,600
    $2,705,500
    $5,225,100

    Comparable in this City

    • Value Estimation
      $1,400,000
      43,344 SF

      7205 Southington Dr

      MANUFACTURING (LIGHT) • 43,344 SF
      7205 Southington Dr, Parma, OH 44129-5031
      View Details
    • Value Estimation by Request
      1,889 SF

      9101 Brookpark Rd

      MANUFACTURING (LIGHT) • 1,889 SF
      9101 Brookpark Rd, Parma, OH 44129-6821
      View Details
    • Value Estimation by Request
      4,626 SF

      7431 Rdg Rd

      WAREHOUSE, STORAGE • 4,626 SF
      7431 Rdg Rd, Parma, OH 44129-6604
      View Details
    • Value Estimation by Request
      5,180 SF

      9119 Brookpark Rd

      WAREHOUSE, STORAGE • 5,180 SF
      9119 Brookpark Rd, Parma, OH 44129-6840
      View Details
    • Value Estimation by Request
      5,470 SF

      7510 Snow Rd

      WAREHOUSE, STORAGE • 5,470 SF
      7510 Snow Rd, Parma, OH 44129-3143
      View Details
    • Value Estimation
      $590,000
      12,000 SF

      5359-5361 Pearl Rd

      WAREHOUSE, STORAGE • 12,000 SF
      5359-5361 Pearl Rd, Parma, OH 44129
      View Details

    Similar Nearby for Sale

    • $834,000
      0.29 Acres

      Commercial Flex Space Opportunity

      Commercial building suitable for flex space in Parma, Ohio.
      5522 Pearl Rd, Cleveland, OH 44129
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    • $3,300,000
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      Air-Conditioned Warehouse/Retail Space Available

      Vacant, air-conditioned warehouse/retail space with ample parking.
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      1.26 Acres

      Parma Retail Redevelopment Site

      High-traffic 1.26-acre vacant lot, prime location.
      5466 Pearl Rd, Parma, OH 44129
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    • $274,900

      Parma Mixed-Use Investment Opportunity

      Two Adjacent Commercial Buildings, High Potential
      5649 Ridge Rd, Parma, OH 44129
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    • $2,000,000
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      Salon/Medical/Office Building For Sale

      14,000+ sq ft building near University Hospital.
      6731 Ridge Rd, Cleveland, OH 44129
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    • Contact for pricing
      Pending

      Land in Parma, Ohio

      Land available in the heart of Parma, Ohio.
      Forest Ave, Cleveland, OH 44129
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      400,000 SF

      Brookpark Road Flex Space Opportunity

      Large Flex Space, Prime Location, High Traffic Area
      8700 Brookpark Rd, Parma, OH 44129
      View Details
    • Contact for pricing
      101,000 SF

      Brook Ridge Plaza Pad Site

      Prime Retail Pad, I-480 & Ridge Rd
      7400 Brookpark Rd, Cleveland, OH 44129
      View Details
    • $18 SF/Yr
      3,541 SF

      Class A Office Building

      Three-story office building with lush landscaping and wooded surroundings.
      7100 Pleasant Valley Rd, Independence, OH 44129
      View Details
    • Contact for pricing
      3,387 SF

      Restaurant Space For Lease

      Restaurant space available in Parma, Ohio.
      8111 Day Dr, Parma, OH 44129
      View Details
    • $2,500 /Mo
      15,825 SF

      Office Space in Parma, OH

      Office space for rent with attached garage and parking.
      5325 Ridge Rd, Cleveland, OH 44129
      View Details
    • $499 /Mo
      87,120 SF

      Office Space in Parma, OH

      Office building with modern decor and high traffic location.
      6731 Ridge Rd, Cleveland, OH 44129
      View Details
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    8700 Brookpark Rd
    Parma, OH 44129
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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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