7440 Broadway Ave, Cleveland, OH 44105
Retail property with long-term lease and stable income stream.
- Added:
- Mar 17, 2026
- Days on Market:
- 109
- Last Refresh:
- Mar 20 at 12:00 am
Property Features for 7440 Broadway Ave
General Information
- Standard status
- Active
- Size
- 7,000 SF
- Lot size
- 0.82 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2005
Listing office Encore Real Estate Investment Services
Listing date Mar 17, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of Encore Real Estate Investment Services
HighLights
- Long‑term lease with Advance Auto Parts, a reputable national tenant
- Attractive 7.01% CAP rate and $78,840 Net Operating Income (NOI)
- Prime location in Cleveland with high traffic volume (18,000+ vehicles daily)
- Tenant is responsible for maintenance expenses
- Relatively new construction (built in 2005)
- Advance Auto Parts has a strong market presence with a $9.6 billion market cap
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.0k | $15.00 |
| − Vacancy | −$8.9k | −$1.28 |
| EGI | $96.1k | $13.73 |
| − OpEx | −$28.8k | −$4.12 |
| NOI | $67.3k | $9.61 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Cleveland
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.6364935
- Latitude
- 41.4556255