Brick Retail Storefront with
For Sale
$265,000
4873 Broadview Road, Cleveland, OH 44109
Brick retail building offers two ~1,000-square-foot sections with independent entrances and updated HVAC systems.
Property Size2,000 SF
Price / SF$132.50
Days on Market175
Property Features for 4873 Broadview Road
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Retail
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$3,373
Amenities
3
10 Parking Spaces.
Building Details
Year Built
1951
Construction
classic brick front
Listing Agency:
RE/MAX Above & Beyond
(440) 842-7200
Listed By:
Robert Cole · License #2016001279
(440) 241-5221
Source:
Xome
Added: Mar 16
Changed: Sep 2
Last Checked: Sep 6 at 6:30AM
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 RE/MAX Above & Beyond
Investment Insights
Based on property information with market context.
This 2,000-square-foot brick retail storefront features a classic exterior and a flexible interior layout designed for retail operations. The building is divided into two separate sections, each at approximately 1,000 square feet, with independent entrances for easy access to either side. The property is supported by modern mechanical updates, including a 2019 furnace and air conditioning unit, along with an updated hot water tank.
A convenient asphalt driveway provides access for customers and vehicles, supporting practical parking needs for the business. The lot is fully fenced with a 6-foot wood privacy fence, creating a defined, enclosed area suitable for customer use and potential on-site storage.
The current configuration is a retail storefront, with ample space for merchandise display and customization to fit different retail layouts.
A convenient asphalt driveway provides access for customers and vehicles, supporting practical parking needs for the business. The lot is fully fenced with a 6-foot wood privacy fence, creating a defined, enclosed area suitable for customer use and potential on-site storage.
The current configuration is a retail storefront, with ample space for merchandise display and customization to fit different retail layouts.
Key Highlights
- 2,000 SF retail building with classic brick front and flexible interior layout
- Divided into two ~1,000‑SF sections, each with an independent entrance
- 2019 furnace and air conditioning unit for year‑round heating and cooling
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
$19,215
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
7.25%
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%
$384,300
$384.3K
Cap Rate 7%
$274,500
$274.5K
Cap Rate 9%
$213,500
$213.5K
Market Conditions
NOI Build-Up for 2,000 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
$30.0K $15.00/SF
− Vacancy
−$2.6K −$1.28/SF
EGI
$27.5K $13.73/SF
− OpEx
−$8.2K −$4.12/SF
NOI
$19.2K $9.61/SF
Area
Cleveland, OH
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$384,300
Cap Rate 7%
$274,500
Cap Rate 9%
$213,500
Alternative Uses
Best Use
Retail
$274.5K
$240.2K – $320.3K
NOI $19,215 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$488.1K
$427.1K – $569.4K
NOI $34,164 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in Cleveland, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Brick retail building offers two ~1,000-square-foot sections with independent entrances and updated HVAC systems.
Where is this storefront property located?
The property is located at 4873 Broadview Road Cleveland, OH.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 2,000 SF retail building with classic brick front and flexible interior layout; Divided into two ~1,000‑SF sections, each with an independent entrance; 2019 furnace and air conditioning unit for year‑round heating and cooling
