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    Prime Retail Investment Opportunity Title is generated by Realmo AI

    401-403 405 Broadway Avenue, Bedford, OH 44146

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    For Sale
    $615,000

    High-traffic location with three retail units and ample parking.

    Type:Retail
    Property size:
    4,648 SF
    Lot size:
    0.70 Acres
    Price / SF:
    $132/SF
    Added:
    Mar 5, 2026
    Days on Market:
    72
    Last Refresh:
    Apr 5 at 8:43 pm

    Property Features for 401-403 405 Broadway Avenue

    General Information

    Standard status
    Active
    Size
    4,648 SF
    Lot size
    0.70 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    1975

    We can help!

    Listing Contact
    Christopher Frederick

    Listing agent Christopher Frederick License #0000426983

    Listing office Coldwell Banker Schmidt Realty

    Listing date Mar 5, 2026

    Source Cbcworldwide

    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 Coldwell Banker Schmidt Realty

    HighLights

    • 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.
    • Strong income potential with existing tenants generating a total of $6,750 per month.
    • Versatile property suitable for owner‑occupancy or pure cash‑flow investment.
    • Proven adaptability for various business types, including real estate offices, insurance agencies, and retail.

    Overview

    This commercial property presents an exceptional opportunity in a high-traffic, high-visibility location, enhanced by ample on-site parking. The well-maintained building has undergone over $300,000 in recent improvements, including extensive build-outs, a roof replacement, and major mechanical, electrical, and plumbing updates. The property is configured as three separate retail storefronts, each featuring a private entrance, dedicated parking, separate utilities, central air, and access to a rear private patio area. One unit, approximately 2,056 square feet, is occupied by a daycare tenant generating $3,000 per month and includes two baths and a kitchen. The two remaining units have been recently fully leased. One unit offers approximately 670 square feet with one bath at $1,250 per month, and the other offers approximately 1,922 square feet with two baths at $2,500 per month. Prior uses include real estate offices, insurance agencies, and retail beverage sales, demonstrating versatility across multiple business types. The property is situated on 0.6991 acres.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $554.5K
    NOI $49,901 @ 9.00% cap · cautious / downside scenario
    Moderate
    $712.9K
    NOI $49,901 @ 7.00% cap · market / base-case scenario
    Aggressive
    $998.0K
    NOI $49,901 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $88.1k $18.96
    − Vacancy −$21.6k −$4.65
    EGI $66.5k $14.31
    − OpEx −$16.6k −$3.58
    NOI $49.9k $10.74
    4,648 SF · lease $18.96/SF/yr · vacancy 24.50% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $712.9K
    $623.8K – $831.7K (±1% cap)
    NOI $49,901 @ 7.0% cap · market cap 8.11%
    Second Best
    Retail
    $634.5K
    $555.2K – $740.2K (±1% cap)
    NOI $44,412 @ 7.0% cap · market cap 7.22%
    Theoretical Best
    Warehouse
    $3.72M
    $3.26M – $4.34M (±1% cap)
    NOI $260,693 @ 7.0% cap · market cap 42.39%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Bedford Floral Shoppe — Bedford, OH 44146

    Location Insight

    • Map
    • Local Demand
    City
    Bedford
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5301
    Latitude
    41.3816

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    FAQs

    What type of property is this?
    Storefront property - High-traffic location with three retail units and ample parking.
    Where is this storefront property located?
    The property is located at 401-403 405 Broadway Avenue 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
    We can help!
    Listing Contact
    Christopher Frederick
    Real Estate License ID: 0000426983
    Learn More
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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.

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