Property profile

23840 Broadway Ave Bedford, OH 44146

OFF-MARKET
Drive through restaurants
Property ID
US66-1303500
1,974 SF 1.55 ac lot Built 1993
Entity Owned 4-yr Hold Free & Clear
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Property summary

AI-generated overview

This 1,974 square foot restaurant building sits on a 1.55-acre outparcel in the Hawthorne Valley Power Center in Bedford, Ohio (44146), a high-traffic location with excellent visibility. The property is currently vacant and available for sale at $800,000 ($405.27/SF), lease, or ground lease. The center boasts strong co-tenancy with national retailers including Sam's Club, Levin Furniture, Ollie's, The Tile Shop, Woodcraft, and Wendy's, among others. Nearby food establishments include McDonald's and Dunkin'. This Class B property benefits from a dense population base: within a 5-mile radius, there are 128,585 people with an average household income of $81,356. High traffic counts are a key advantage, with 15,682 vehicles per day (VPD) passing the property and easy access to I-271 (113,466 VPD, per ODOT TIMS). The center's super-regional draw is further enhanced by its position as the only Sam's Club, Ollie's, and Levin Furniture within a 10-mile radius. This presents a unique redevelopment opportunity in a prime retail location. The property is situated at 23840 Broadway Ave, Bedford, Cuyahoga County, Ohio.

Property profile

Verified
Property type Drive through restaurants
Use group DRIVE-THRU RESTAURANT, FAST FOOD
Year built 1993
Construction TYPE NOT SPECIFIED
Total area 1,974 SF
Lot 1.55 ac (67,518 SF)
Zoning code GB
APN 795-06-019
UPID US66-1303500

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant

Location

23840 Broadway Ave Bedford, OH 44146-6026
Bedford metro Census 195700 CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

since 2021
Last sale
$24.3M
2 recorded transactions
2021
$24.3M
2003
Price N/A

Zoning & alternative use

GB · Bedford, OH

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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