61-Unit Apartment
For Sale
Contact for pricing
4687 Broadview Road, Cleveland, OH 44109
Multifamily property built in 1963 within Cleveland’s Old Brooklyn area.
Property Size34,335 SF
Price / SF$128.15
Days on Market52
Property Features for 4687 Broadview Road
General Information
Standard status
Active
Size
34,335 SF
Class
C
Property subtype
Multifamily
Occupancy
100%
Additional Details
Multifamily Units
61
Building Details
Year Built
1963
Buildings
7
Stories
3
Units
61
Listing Agency:
Berkadia Real Estate Advisors LLC
Listed By:
Robert Starrett · License #20230000830
Source:
Crexi
Added: Aug 27
Changed: Oct 11
Last Checked: Oct 16 at 7:17AM
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 Berkadia Real Estate Advisors LLC
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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 apartment property at 4687 Broadview Road contains 61 units and 34,335 square feet of building area. Constructed in 1963, the asset is located in Cleveland’s Old Brooklyn area and carries a multifamily configuration suited to apartment operations.
Key Highlights
- 61‑unit apartment property
- 34,335 square feet of building area
- Constructed in 1963
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$380,706
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,614,120
$7.6M
Cap Rate 7%
$5,438,657
$5.4M
Cap Rate 9%
$4,230,067
$4.2M
Market Conditions
NOI Build-Up for 34,335 SF
Gross rent
$721.0K $21.00/SF
− Vacancy
−$28.8K −$0.84/SF
EGI
$692.2K $20.16/SF
− OpEx
−$311.5K −$9.07/SF
NOI
$380.7K $11.09/SF
Area
Cleveland, OH
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,614,120
Cap Rate 7%
$5,438,657
Cap Rate 9%
$4,230,067
Alternative Uses
Best Use
Apartment 5plus
$5.44M
$4.76M – $6.35M
NOI $380,706 @ 7.0% cap · market cap 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.38M
$7.33M – $9.78M
NOI $586,519 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
61
Residential units
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Explore this area
Business Placement
Demographics for 44109, OH
39,121
Population
19,588
Households
2
Avg Household Size
36
Median Age
17%
College-Educated
81%
High-School Grad
7.1 sq mi
ZIP Area
5,510
Density / Sq Mi
$43,130
Median Household Income
$34,050
Median Earnings
$861
Median Rent
$112,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property built in 1963 within Cleveland’s Old Brooklyn area.
Where is this apartment building located?
The property is located at 4687 Broadview Road Cleveland, OH.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: 61‑unit apartment property; 34,335 square feet of building area; Constructed in 1963
