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    401-403 Broadway Ave Bedford, OH 44146

    View on Map
    Sponsored
    For Sale
    $615,000

    SINGLE_FAMILY - Bedford, OH

    Type:Retail
    Lot size:
    0.70 Acres
    Days on Market:
    29
    Last Refresh:
    Mar 11 at 7:06 pm

    Property Features for 401-403 Broadway Ave

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Standard status
    Active
    APN
    812-09-003
    Parking
    31
    Parking features
    Parking Lot
    Fencing
    Fenced
    Lot size
    0.70 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1975
    Floors in Building
    1
    Number of units
    3
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Christopher A Frederick

    Coldwell Banker Schmidt Realty (440) 572-0220

    Listing agent Christopher A Frederick (216) 210-7653 License #426983

    Listing date Feb 10, 2026

    MLS# 5178291

    Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Investment Opportunity in Bedford, OH

    This commercial property in a high-traffic, high-visibility location offers ample on-site parking. The well-maintained building has benefited from over $300,000 in recent improvements, including extensive build-outs, roof replacement, and major mechanical, electrical, and plumbing updates. The property is configured as three separate retail storefronts, each with a private entrance, dedicated parking, separate utilities, central air, and access to a rear private patio area. One unit, approximately 2,056 square feet with two baths and a kitchen, is occupied by a daycare tenant generating $3,000 per month. Another unit offers approximately 670 square feet with one bath and is leased for $1,250 per month. The third unit, approximately 1,922 square feet with two baths, is leased for $2,500 per month. The property is suited for an owner to occupy one unit while leasing the others, or as a cash-flow investment. Prior uses include real estate offices, insurance agencies, and retail beverage sales, demonstrating versatility across multiple business types. The lot size is 0.6991 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bedford
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.542727
    Latitude
    41.397962

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    FAQs

    What type of property is this?
    Strip mall - Well-maintained retail property with strong income potential in prime location.
    Where is this strip mall located?
    The property is located at 401-403 Broadway Ave Bedford, OH.
    What is the asking price?
    The asking price for this property is $615,000.
    What are key features of this property?
    This property features: - **High-traffic, high-visibility prime location with ample on-site parking.**; - Over $300,000 in recent improvements, including roof replacement and major mechanical, electrical, and plumbing updates.; - Currently configured as three separate retail storefronts, each with private entrance, dedicated parking, separate utilities, central air, and private patio.
    (216) 210-7653
    Request Owner's contact information
    401-403 Broadway Ave Bedford, OH 44146
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    Bedford, OH 44146
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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
    401-403 Broadway Ave Bedford, OH 44146
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    We can help!
    Listing Contact
    Christopher A Frederick
    Real Estate License ID: 426983
    (216) 210-7653 (440) 777-8500 (440) 327-2123
    Learn more
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