Flex Space with Shop
For Sale
$950,000
7958 Broadview Road, Broadview Heights, OH 44147
Mixed office, salon, medical, storage, and shop areas provide a versatile commercial configuration.
Property Size11,615 SF
Days on Market60
Property Features for 7958 Broadview Road
General Information
Standard status
Active
Size
11,615 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Warehouse Space
3,400 SF
Taxes and HOA fees
Annual Taxes
$15,737
Amenities
spacious central foyer with skylights
fully equipped salon
professional office suites
former medical offices w/ multiple exam rooms
large conference room
banquet kitchen
vanilla box spaces
Building Details
Building Size
11,615 SF
Year Built
1986
Buildings
2
Construction
brick
Listing Agency:
EXP Realty, LLC.
(440) 317-0422
Listed By:
Susan C Sasseville · License #2002019045
(440) 317-0422
Source:
Carolgoffrealestate
Added: Jul 2
Changed: Aug 29
Last Checked: Aug 29 at 6:56PM
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 EXP Realty, LLC.
Investment Insights
Based on property information with market context.
This commercial flex property combines a professional and medical office building with a separate shop and storage structure. The front building contains more than 10,000 square feet, including a skylit foyer, equipped salon, office suites, former exam-room areas, finished rooms, vanilla-box space, and unfinished areas with private entrances. Its lower level adds a conference room, banquet kitchen, restrooms, and additional unfinished area.
The detached building provides 3,400 square feet across 1.5 stories with brick construction, multiple overhead doors, drive-through access, and storage capacity. Approximately 16 parking spaces are positioned at the front, with 30+ additional spaces behind the property. Located at 7958 Broadview Road in Broadview Heights, the site is zoned Commercial and records more than 20,000 vehicles per day. Built in 1986, the property supports owner-user, investor, and multi-tenant occupancy considerations.
The detached building provides 3,400 square feet across 1.5 stories with brick construction, multiple overhead doors, drive-through access, and storage capacity. Approximately 16 parking spaces are positioned at the front, with 30+ additional spaces behind the property. Located at 7958 Broadview Road in Broadview Heights, the site is zoned Commercial and records more than 20,000 vehicles per day. Built in 1986, the property supports owner-user, investor, and multi-tenant occupancy considerations.
Key Highlights
- >10,000 square feet in the front professional/medical building
- 3,400‑square‑foot detached brick and block shop/storage building
- Approximately 16 front parking spaces plus 30+ rear spaces
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
$41,951
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
4.42%
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%
$839,020
$839.0K
Cap Rate 7%
$599,300
$599.3K
Cap Rate 9%
$466,122
$466.1K
Market Conditions
NOI Build-Up for 11,615 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
$68.3K $5.88/SF
− Vacancy
−$3.8K −$0.32/SF
EGI
$64.5K $5.56/SF
− OpEx
−$22.6K −$1.94/SF
NOI
$42.0K $3.61/SF
Area
Cuyahoga County, OH
Vacancy
5.50%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
35.00%
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%
$839,020
Cap Rate 7%
$599,300
Cap Rate 9%
$466,122
Alternative Uses
Best Use
Warehouse
$9.31M
$8.14M – $10.86M
NOI $651,451 @ 7.0% cap · market cap 68.57%
Second Best
Industrial
$7.66M
$6.71M – $8.94M
NOI $536,489 @ 7.0% cap · market cap 56.47%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44147, OH
19,872
Population
8,841
Households
2.2
Avg Household Size
43
Median Age
54%
College-Educated
98%
High-School Grad
13.0 sq mi
ZIP Area
1,529
Density / Sq Mi
$99,431
Median Household Income
$64,624
Median Earnings
$1,075
Median Rent
$292,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Mixed office, salon, medical, storage, and shop areas provide a versatile commercial configuration.
Where is this flex space located?
The property is located at 7958 Broadview Road Broadview Heights, OH.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: >10,000 square feet in the front professional/medical building; 3,400‑square‑foot detached brick and block shop/storage building; Approximately 16 front parking spaces plus 30+ rear spaces
