Renovated Multifamily
For Sale
$350,000
419 Center Rd, Bedford, OH 44146
One-story rear unit with shared coin-operated laundry near the lobby and garage.
Property Size2,870 SF
Price / SF$121.95
Days on Market16
Property Features for 419 Center Rd
General Information
Standard status
Active
Size
2,870 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Amenities
coin operated washer and dryer
Building Details
Year Built
1961
Listing Agency:
Berkshire Hathaway HomeServices Stouffer Realty
(216) 387-0757
Listed By:
Daniel S Reid
Source:
Theacclaimedrealty
Added: Aug 15
Changed: Aug 28
Last Checked: Aug 29 at 11:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway HomeServices Stouffer Realty
Investment Insights
Based on property information with market context.
This renovated multifamily property at 419 Center Rd in Bedford, OH, contains 2870 square feet and dates to 1961. The available space is a one-story rear unit positioned near the garage, with a coin-operated washer and dryer located off the lobby.
The property is near highway access, shopping, and historic downtown Bedford. Its configuration combines a renovated interior with convenient on-site laundry and proximity to established community destinations.
The property is near highway access, shopping, and historic downtown Bedford. Its configuration combines a renovated interior with convenient on-site laundry and proximity to established community destinations.
Key Highlights
- 2870‑square‑foot multifamily property at 419 Center Rd, Bedford, OH 44146
- Renovated one‑story rear unit near the garage
- Coin‑operated washer and dryer located off the lobby
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,371
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$567,420
$567.4K
Cap Rate 7%
$405,300
$405.3K
Cap Rate 9%
$315,233
$315.2K
Market Conditions
NOI Build-Up for 2,870 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.8K $19.08/SF
− Vacancy
−$3.2K −$1.11/SF
EGI
$51.6K $17.97/SF
− OpEx
−$23.2K −$8.09/SF
NOI
$28.4K $9.89/SF
Area
Cuyahoga County, OH
Vacancy
5.80%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$567,420
Cap Rate 7%
$405,300
Cap Rate 9%
$315,233
Alternative Uses
Best Use
Apartment 5plus
$405.3K
$354.6K – $472.9K
NOI $28,371 @ 7.0% cap · market cap 8.11%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.30M
$2.01M – $2.68M
NOI $160,970 @ 7.0% cap · market cap 45.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Explore this area
Business Placement
Demographics for 44146, OH
29,778
Population
15,270
Households
2
Avg Household Size
46
Median Age
23%
College-Educated
92%
High-School Grad
20.0 sq mi
ZIP Area
1,489
Density / Sq Mi
$53,049
Median Household Income
$40,808
Median Earnings
$1,000
Median Rent
$141,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - One-story rear unit with shared coin-operated laundry near the lobby and garage.
Where is this multifamily property located?
The property is located at 419 Center Rd Bedford, OH.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2870‑square‑foot multifamily property at 419 Center Rd, Bedford, OH 44146; Renovated one‑story rear unit near the garage; Coin‑operated washer and dryer located off the lobby
