For Sale
$275,000

706 Broadway AveBedford, OH 44146

Historic downtown storefront, 6,975 SF

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 7-unit retail storefront building totaling 6,975 square feet, situated on a 0.185-acre lot in Bedford, Ohio's historic downtown. The property, built in 1921, features a single-story brick structure with over 117 feet of frontage on Broadway Avenue (706-718). Currently housing seven tenants, this multi-tenant property offers significant upside potential due to unchanged lease terms since the tenants' inception. While the building is in good condition, the roof requires some attention. The property boasts separately metered electric and gas for each unit, adding to its operational efficiency. The asking price is $275,000, translating to less than $51 per square foot for this occupied multi-tenant building—well below replacement cost. The property's location benefits from strong demographics within a 3-mile radius, showcasing an upward trend in housing, population, and average household income ($63,539). The property's APN is 812-13-059 and is zoned for Historic Downtown use. This presents a rare chance to acquire a well-located, established retail center with substantial value-add potential. The lease type is gross, and tenant credit history is not available.

Highlights

  • Separately metered utilities (electric and gas).
  • High visibility with significant street frontage and unique character.
  • Attractive price of under $51/SF for an occupied multi-tenant building, well below replacement cost.
  • Excellent location with strong demographics: $63,539 average household income within a 3-mile radius and upward population/housing trends.

Property Details for 706 Broadway Ave

Property type
Retail properties, Retail space
Square Feet
6,975 SF
Year Built
1921
Buildings
1
Stories
1
Lot Size (sq. ft)
8,059 SF
Units
7

Location Insight

City
Bedford
County
Cuyahoga
State
Ohio
Latitude
41.3909977
Longitude
-81.5352046
706 Broadway Ave, Bedford, Ohio

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706 Broadway Ave
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