16231 Broadway Ave Maple Heights, OH 44137
For Sale
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This exceptional value-add investment opportunity presents a vacant, 40,406 square-foot building situated on a 2.71-acre lot in Maple Heights, Ohio. Formerly the Maple Heights Broadway Care Center, this 1986-built, two-story structure boasts 50 units with a total of 100 beds. The property features a robust steel-beam construction, two elevators, ample parking (84 spaces), and multiple access points. Internal amenities include offices, exercise and activity rooms, dining areas, a full-service commercial kitchen, laundry facilities, and substantial storage. Zoned CBD, this versatile property offers significant potential for repurposing into various uses, including senior housing, educational facilities, or multifamily apartments. Its strategic location between I-271 and I-77 along I-480 ensures excellent visibility and accessibility. The asking price is $1,400,000 ($28,000 per unit, $34.65 per square foot). The seller is open to exploring owner financing and lease-to-purchase options. This is a unique chance to acquire a well-built structure with substantial potential for a creative and profitable redevelopment project. The property's address is 16231 Broadway Ave, Maple Heights, OH 44137, and the APN is 781-12-012.
It is the purpose of the GC District to provide appropriate and convenient locations for shopping and convenience goods and services for the entire community which tend to generate large volumes of vehicular traffic.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
GC · Maple Heights, OHIt is the purpose of the GC District to provide appropriate and convenient locations for shopping and convenience goods and services for the entire community which tend to generate large volumes of vehicular traffic.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
