520 Broadway Ave Bedford, OH 44146-2724
Property profile & analytics
520 Broadway Ave, Bedford, OH 44146-2724
- Retail space
- 14,942 SF
- 1.57 lot acres
Property ID
US66-3862672
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Retail space
Property Details for 520 Broadway Ave
- Year built
- 2006
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 1.57 lot acres
- Zone code
- B-2A
- Property type
- Retail space
- APN
- 812-05-021
- APU
- 81205021
Description
This exceptional investment opportunity presents a 14,820-square-foot Walgreens, situated on a 1.57-acre lot at 520 Broadway Ave, Bedford, OH 44146. The property boasts a new 13-year net lease (NNN) with Walgreens, an investment-grade tenant rated "BBB" by S&P, commencing September 1, 2022, and expiring August 31, 2035. This translates to a substantial 10.8 years of remaining lease term. The lease includes attractive 5% rental increases every five years, extending through option periods. The asking price is $4,420,000, representing a compelling $298.25 per square foot and a 5.70% cap rate, generating a net operating income (NOI) of $251,940. Located on a hard corner signalized intersection of Broadway Avenue and Grace Street, this property benefits from high visibility and significant traffic volume (approximately 20,327+ vehicles per day). The strategic location within the densely populated Cuyahoga County (1.25 million residents) and proximity to University Hospital and Bedford High School further enhances its appeal. This absolute NNN lease structure eliminates landlord responsibilities, making it an ideal asset for 1031 exchanges or investors seeking predictable, long-term cash flows. The strong sales history of this Walgreens location underscores its enduring profitability and makes this a rare and attractive investment opportunity.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Bedford
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.5409
- Latitude
- 41.3953
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$77,093
$422,070
$310,940
$733,010
-
$1,205,900
$888,400
$2,094,300
