2323 Broadview RdCleveland, OH 44109

  • Retail properties
  • 0.14 AC
For Lease

Property Details for 2323 Broadview Rd

Lot size
0.14 AC
Zone code
LR
Property type
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,561,859
    6.5%
    $1,441,716
    7%
    $1,338,736
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,392,167
    Geo Method
    $1,392,167
  • Alternative Use

    Use
    Valuation
    Residential
    $1,216,141
    Hospitality
    $1,113,979
    Educational
    $926,817
    Medical
    $958,692
    Retail
    $1,441,716
2323 Broadview Rd, Cleveland, Ohio

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

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
$1,237
$12,390
-
$12,390
-
$35,400
-
$35,400

FAQs

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