776 Broadway Ave Bedford, OH 44146-3645
- Warehouses
- 2,250 SF
- 0.16 lot acres
Aug 04, 2023
Current Use by Public Records
- Warehouses
Property Details for 776 Broadway Ave
- Year built
- 1962
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 0.16 lot acres
- Property size
- 2,250 SF
- Zone code
- B-2
- Property type
- Warehouses
- APN
- 812-14-060
- APU
- 81214060
Description
This exceptional free-standing commercial building, located in Bedford's historic district, presents a unique investment opportunity. Boasting B-2 zoning, the property offers incredible flexibility for a wide range of business ventures. Imagine establishing a professional office, boutique, spa, lounge, holistic center, or massage therapy practice – the possibilities are vast. Alternatively, the building's design allows for two distinct businesses to operate simultaneously, utilizing the upper and lower levels with their separate entrances. Previously a dental practice, the property has been thoughtfully prepared for a food service establishment, with significant restaurant equipment (valued at over $25,000) included in the sale. This equipment is ready for final touches and immediate operation. The lower level offers additional space, which can be integrated with the upper level or function as a completely separate entity. The upper level features a spacious, open floor plan with plumbing already in place for a bathroom. The lower level comprises two to three rooms, a full bathroom, and a half-bath. The building's clean design and minimal exterior maintenance requirements ensure ease of upkeep. Estimated dimensions include a main (upper) level of approximately 1,368 square feet (28' 5" x 48'), with first-floor sections measuring 24' x 28' and 28' x 23'. Lower-level sections are approximately 21' x 19' and 24' x 24'. The property sits on a 0.16-acre lot. A liquor license is negotiable as part of the sale. This is an exceptional opportunity to own a versatile and well-equipped commercial space in a desirable location.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $110,000
- ML approach
- $145,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $185,000
- 6.5%
- $175,000
- 7%
- $160,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $146,000
- AI Estimate
- $112,000
Market price range: $76.3k - $183kMarket price range: $41.8k - $155k -
Alternative Use
- Use
- Estimation
- WAREHOUSE, STORAGE
- $130,000 Current use
- RETAIL STORES
- $110,000 Change: -14% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Bedford
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.5336
- Latitude
- 41.3895
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA