Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    673 Broadway Ave Bedford, OH 44146

    • Retail properties
    • 5,600 SF
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 673 Broadway Ave

    Lot size
    0.28 lot acres
    Property size
    5,600 SF
    Property type
    Retail properties

    Description

    Prime Bedford, Ohio location, this 5,600 square foot, all-brick retail building presents a compelling investment opportunity. Currently 100% occupied with five diverse tenants: Jackson Hewitt, Fairfellow Realty, Lyrix Barber Shop, Vinyl Groove, and A Nu Tatt2 Professional Tattooing, this property boasts a strong income stream. Situated in Bedford's historic downtown, it benefits from high foot traffic in a walkable commercial district and convenient access to major highways and ample parking. The building underwent recent improvements, including full remodels for Jackson Hewitt and Fairfellow Realty (including updated electric and a new hot water tank for Fairfellow), as well as electrical and furnace upgrades for the barbershop. A new roof was installed in November 2021, complete with a 10-year transferable warranty, ensuring long-term value and peace of mind. The asking price is $449,000, representing a price per square foot of $80.18. This property offers a rare combination of strong occupancy, recent improvements, and a desirable location, making it an ideal addition to any investment portfolio. The 0.28-acre lot provides ample space for the building and its tenants. This is a turnkey investment opportunity with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bedford
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5358
    Latitude
    41.3921

    Comparable in this City

    • Value Estimation by Request
      0.75 Acres

      21240-21250 Rockside Rd

      Automotive properties • 12,365 SF
      21240-21250 Rockside Rd, Bedford, OH 44146
      View Details
    • Value Estimation
      $240,000
      0.18 Acres

      909 Broadway Ave

      NURSERY, GREENHOUSE, FLORIST • 0.18 Acres
      909 Broadway Ave, Bedford, OH 44146
      View Details
    • Value Estimation
      $245,000
      0.39 Acres

      30 Taylor Rd

      NURSERY, GREENHOUSE, FLORIST • 0.39 Acres
      30 Taylor Rd, Bedford, OH 44146
      View Details
    • Value Estimation
      $250,000
      1,530 SF

      24510 Broadway Ave

      NURSERY, GREENHOUSE, FLORIST • 1,530 SF
      24510 Broadway Ave, Bedford, OH 44146-6339
      View Details
    • Value Estimation
      $215,000
      1.03 Acres

      25018 Broadway Ave

      NURSERY, GREENHOUSE, FLORIST • 1.03 Acres
      25018 Broadway Ave, Bedford, OH 44146-6309
      View Details
    • Value Estimation
      $225,000
      0.18 Acres

      Monroe St

      NURSERY, GREENHOUSE, FLORIST • 0.18 Acres
      Monroe St, Bedford, OH 44146
      View Details

    Similar Nearby for Sale

    • $175,000
      6,544 SF

      Bedford Mixed-Use Commercial Building

      Established Dry Cleaners, Huge Potential
      871 Broadway Ave, Bedford, OH 44146
      View Details
    • New
      $615,000
      4,648 SF

      Retail Property in High-Traffic Location

      Well-maintained retail building with recent improvements and income potential.
      401-403 Broadway Ave, Bedford, OH 44146
      View Details
    • Contact for pricing
      53,700 SF

      Cleveland Shopping Center For Sale

      53,700 SF shopping center on 2.84 acres.
      5841-5857 Broadway Ave, Cleveland, OH 44146
      View Details
    • $349,000
      51,231 SF

      Bedford Industrial Warehouse

      51,231 SF Warehouse - $349,000
      33 Industry Dr, Bedford, OH 44146
      View Details
    • $600,000
      6,204 SF

      1450 Broadway Ave, Bedford, OH 44146

      Residential income properties • 6,204 SF
      1450 Broadway Ave, Bedford, OH 44146
      View Details
    • $38,000
      0.13 Acres

      Residential Land in Bedford, OH

      Building lot in Bentbrook Community with city services and tax abatement.
      62 Hubbell Way, Bedford, OH 44146
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      25,203 SF

      Meadowbrook Market Square Retail Space

      Prime Bedford Retail, 25,203 SF
      22161 Rockside Rd, Bedford, OH 44146
      View Details
    • Contact for pricing
      12,531 SF

      Rockside Road Retail Opportunity

      Retail space available on Rockside Road in Bedford, Ohio.
      21250 Rockside Rd, Cleveland, OH 44146
      View Details
    • Contact for pricing
      8,000 SF

      Retail Space Near Macedonia Commons

      Retail property with high traffic and attractive demographics nearby.
      949-959 Aurora Rd, Cleveland, OH 44146
      View Details
    • Contact for pricing
      1,218 SF

      Prime Bedford Heights Retail Space

      1,218 SF Freestanding Building, 1.06 AC Lot
      24800 Rockside Rd, Bedford Heights, OH 44146
      View Details
    • $10 SF/Yr
      23,840 SF

      Hawthorn Valley Shopping Center Space

      Prime Retail Space, I-480 Visibility, High Traffic
      23290 Broadway Ave, Bedford, OH 44146
      View Details
    • $6 SF/Yr
      13,500 SF

      Bedford Heights Industrial Space Available

      13,500 SF industrial space for lease in Bedford Heights.
      26820 Fargo Ave, Bedford Heights, OH 44146
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    673 Broadway Ave
    Bedford, OH 44146
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.