Historic District Short-Term
For Sale
$275,000
237 N Broadway, Medina, OH 44256
Short-term rental property at a historic-district address in Medina, Ohio.
Property Size1,293 SF
Price / SF$212.68
Days on Market47
Property Features for 237 N Broadway
General Information
Standard status
Active
Size
1,293 SF
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Keller Williams Elevate
Listed By:
Lori A Schwarz · License #448529
(330) 725-4408
Source:
Homesinneohio
Added: Sep 7
Changed: Oct 12
Last Checked: Oct 7 at 1:12PM
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 Keller Williams Elevate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This short-term rental property is located at 237 N Broadway in Medina, Ohio. The property dates to 1900 and is situated within the Medina Historic District.
A separate retail plaza on North Court Street with 5 tenants is also available; details are available from the agent.
A separate retail plaza on North Court Street with 5 tenants is also available; details are available from the agent.
Key Highlights
- Located in the Medina Historic District
- 1900 construction date
- 237 N Broadway, Medina, OH 44256
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,213
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$204,260
$204.3K
Cap Rate 7%
$145,900
$145.9K
Cap Rate 9%
$113,478
$113.5K
Market Conditions
NOI Build-Up for 1,293 SF
Gross rent
$19.9K $15.36/SF
− Vacancy
−$1.3K −$1.00/SF
EGI
$18.6K $14.36/SF
− OpEx
−$8.4K −$6.46/SF
NOI
$10.2K $7.90/SF
Area
Medina County, OH
Vacancy
6.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$204,260
Cap Rate 7%
$145,900
Cap Rate 9%
$113,478
Alternative Uses
Best Use
Apartment 5plus
$145.9K
$127.7K – $170.2K
NOI $10,213 @ 7.0% cap · market cap 3.71%
Second Best
Retail
$73.3K
$64.1K – $85.5K
NOI $5,131 @ 7.0% cap · market cap 1.87%
Theoretical Best
Specialty Retail
$360.7K
$315.6K – $420.8K
NOI $25,246 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,262
Businesses Nearby
Explore this area
Business Placement
Demographics for 44256, OH
64,815
Population
26,740
Households
2.4
Avg Household Size
43
Median Age
42%
College-Educated
96%
High-School Grad
130.8 sq mi
ZIP Area
496
Density / Sq Mi
$100,345
Median Household Income
$55,180
Median Earnings
$1,120
Median Rent
$292,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Short term rental property - Short-term rental property at a historic-district address in Medina, Ohio.
Where is this short term rental property located?
The property is located at 237 N Broadway Medina, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Located in the Medina Historic District; 1900 construction date; 237 N Broadway, Medina, OH 44256
