755 Broadway Ave Bedford, OH 44146-3637
Property profile & analytics
755 Broadway Ave Bedford, OH 44146-3637
- Warehouses
- 6,167 SF
- 0.34 lot acres
Property ID
US66-1751953
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
- Warehouses
Property Details for 755 Broadway Ave
- Year built
- 1900
- Construction
- WOOD
- Lot size
- 0.34 lot acres
- Property size
- 6,167 SF
- Zone code
- H-D
- Property type
- Warehouses
- APN
- 812-13-025
- APU
- 81213025
Description
This exceptional value-add multifamily investment opportunity, known as Franklin Manor, is situated in Bedford, Ohio's historic district at 755 Broadway Avenue. This three-story, 6,167 square foot building, constructed in 1888 and extensively renovated in 1980, boasts 11 units – six residential and five office units, offering significant upside potential. The office units present a readily convertible opportunity to increase residential occupancy and rental income. Recent capital improvements include a new roof (2023) with a transferable warranty, a new asphalt parking lot (2021), and upgraded mechanical systems (HVAC, boiler, hot water tanks, sewer stack, and electrical). The property sits on a 0.34-acre lot and is zoned for commercial use. Currently operating at 7% occupancy, the property offers a compelling 7.41% cap rate with a pro-forma cap rate of 12.52%, reflecting the significant potential for increased NOI ($44,394 currently, pro-forma $75,019). The asking price is $599,000, translating to $54,454.55 per unit and $97.13 per square foot. This property presents a rare chance to acquire a well-located, historically significant building with substantial upside potential in a thriving market. The property's Cuyahoga County APN is 812-13-025. Below-market rents in both residential and office units further enhance the investment appeal.
Value Estimations
based on Realmo’s proprietary methodology
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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
- -81.5334
- Latitude
- 41.3904
- 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
$5,294
$21,040
$29,300
$50,340
-
$60,100
$83,700
$143,800
