2323 Broadview RdCleveland, OH 44109

Property Details for 2323 Broadview Rd

Lot size

0.14 AC

Zone code

LR

Property type

Parking lots & garages

APN

014-19-020

APU

1419020

Description

This exceptional freestanding retail property, formerly a Rite Aid, presents a unique investment opportunity in Cleveland, Ohio. Located at 2323 Broadview Rd, in the 44109 zip code, this single-tenant building boasts a substantial 14,308 square feet of vacant space, ready for immediate occupancy. The property sits on a generous 1.51-acre lot, providing ample space for parking and potential expansion. The building's previous use as a pharmacy/drug store suggests a strong potential for similar businesses or adaptable retail ventures. The zoning designation is Limited Retail Business, offering flexibility within the permitted uses. Situated in Cuyahoga County, this location benefits from excellent visibility and accessibility, making it an ideal spot for a variety of retail operations. The entire 14,308 square feet is currently vacant, offering a blank canvas for a new tenant to customize the space to their specific needs. This property represents a rare opportunity to acquire a well-located, sizable retail building in a thriving area of Cleveland. The substantial lot size and convenient location make this an attractive option for businesses seeking high visibility and ample space. Interested parties are encouraged to explore the possibilities this property offers.

• CAP approach

  CAP return

  Valuation

  6%

  $1,312,380

  6.5%

  $1,211,430

  7%

  $1,124,900

• Comparable approach

  Method

  Valuation

  Relative Method

  $574,545

  Geo Method

  $574,545

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,469,890

  Mixed-Use / Specialty

  $1,163,680

  Hospitality / Lodging

  $797,206

  Office

  $1,111,530

  Institutional / Educational

  $1,194,230

  Residential Income

  $1,397,250

  Multifamily

  $1,916,580

  Automotive / Energy

  $1,023,630

  Parking / Income-Based Land

  $396,154

  Restaurant / Food Service

  $512,543

  Healthcare / Senior Housing

  $1,237,870

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.439

Longitude

-81.7014

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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