631-641 Broadway Ave, Bedford, OH 44146

Property Details for 631-641 Broadway Ave

Year built

1923

Lot size

0.31 lot acres

Property type

Mixed-use properties

Description

This exceptional Bedford, OH mixed-use property at 631-641 Broadway Avenue offers a unique investment opportunity. The 21,069 square foot property sits on a 0.31-acre lot and boasts a prime, high-visibility location fronting two busy streets: Broadway and Columbus Avenues. The property includes two well-maintained buildings featuring eight ground-level retail/office spaces of varying sizes, each with private restrooms and hand sinks, as well as private offices and common areas. Currently, the office space along Columbus Avenue is primarily occupied by physicians. Upstairs, eight turnkey residential apartments (seven one-bedroom and one efficiency) provide additional income. Five apartments are currently rented, two are rent-ready, and one is used for storage. The apartments feature desirable layouts, hallways with skylights, and ample natural light. A full, sizable basement offers significant potential for expansion, storage, or additional development. The property includes a private parking lot, and ample city parking is also available. This property is situated in the Bedford Historical District, surrounded by long-term thriving businesses, public transportation routes, and is conveniently close to hospitals, shopping, restaurants, parks, freeways, banking facilities, and auto services. The property is currently self-managed, with retail spaces fully rented and long-term physician tenants in the office space. This presents an ideal opportunity for an owner-occupant seeking office space or a purely investment-focused buyer. Professional management and maintenance services are available for out-of-area investors.

Location Insight

City

Bedford

County

Cuyahoga

State

Ohio

Longitude

-81.5366

Latitude

41.3927