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    981 Keynote Cir Brooklyn Heights, OH 44131
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    981 Keynote Cir, Brooklyn Heights, OH 44131

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    • Office buildings
    • 58,300 SF
    • 5.58 lot acres
    For Lease
    $5,855,000
    View Listing →
    Office Space for Lease For Lease
    $5,855,000

    Office Space for Lease

    Office space available for lease in Brooklyn Heights, OH.

    981 Keynote Cir, Brooklyn Heights, OH 44131
    View Listing
    Property ID
    US66-3102423
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 981 Keynote Cir

    Year built
    1984
    Construction
    TYPE NOT SPECIFIED
    Lot size
    5.58 lot acres
    Zone code
    LI
    Property type
    Office buildings
    APN
    531-28-005
    APU
    53128005

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 30, 2016 — Keynote Office Centre LLC — Deed · related $2.4M · Dollar Bk
    Oct 23, 2012 — Keynote Office Centre LLC Keynote Office Centre LLC Quit Claim Deed · related $2.3M · Pnc Bank
    — — Keynote Office Centre LLC — Deed Of Trust · related $617k · Pnc Bank
    — — Keynote Office Centre LLC — Deed Of Trust · related $2.4M · Dollar Bk

    Description

    981 Keynote Circle offers a prime opportunity for businesses seeking executive office space in Cuyahoga County. This impressive building totals 79,998 square feet and features ten individual suites, providing flexibility for various business needs. The property is currently fully vacant, presenting a unique chance to establish a presence in a modern and well-maintained building. Spaces range from a minimum of 1,180 square feet to a maximum contiguous space of 28,273 square feet, catering to both small and large organizations. The multiple tenancy structure allows for a diverse range of tenants, fostering a vibrant and collaborative environment. The building's location in Cuyahoga County offers excellent access to major transportation routes, amenities, and a skilled workforce. This is an exceptional opportunity to secure a significant amount of high-quality office space in a desirable location. The entire building is available for lease, providing a rare chance to customize the space to perfectly suit your company's specific requirements. With its ample square footage and flexible suite options, 981 Keynote Circle is an ideal location for businesses seeking to establish a strong presence in Cuyahoga County. Interested parties are encouraged to inquire for further details and leasing information. The property's size and layout offer significant potential for a variety of business models. The availability of the entire building presents a unique opportunity for a single tenant or a group of synergistic businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,162,000
      Market price range: $5.92M - $20.8M

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6616
    Latitude
    41.4107
    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
    $66,815
    $212,700
    $888,060
    $1,100,760
    -
    $607,700
    $2,537,300
    $3,145,000

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      Brooklyn Heights Industrial Building For Sale

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      Independence Commercial Land For Sale

      4.77 acres of commercial land zoned for office/research.
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      Development Opportunity Near I-77

      3.2 acres of land suitable for retail or office development.
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    Similar Nearby for Lease

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      Class A Suburban Office Building

      Six-story office building with best-in-class amenities and convenient highway access.
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      New Class A Office Building

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      Class-A Office Building with Amenities

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      Class A Office Building

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      Four-Story Office Building Available

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      12,000 SF

      Freestanding Office Building For Rent

      12,000 SF office building with private offices and parking.
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      View Details
    View Listing
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    Brooklyn Heights, OH 44131
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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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