8161 Broadview RdBroadview Heights, OH 44147

Property Details for 8161 Broadview Rd

Year built

1936

Construction

TYPE NOT SPECIFIED

Lot size

1.10 AC

Property size (Sq ft)

8,677 SF

Zone code

C-1

Property type

Retail properties

Property subtype

Retail space

APN

581-27-006

APU

58127006

Description

This exceptional 8,800-square-foot standalone retail building is situated on a 1.1-acre quasi-corner lot in Broadview Heights, Ohio, at 8161 Broadview Rd, zip code 44147. The property boasts high visibility and ample parking (approximately 25 spaces), making it an ideal location for a variety of businesses. The building features 10-foot ceilings, five large rooms, several smaller offices, and five bathrooms, along with a kitchen. It's currently occupied by a single tenant under a lease, with a 5+ year lease term desired. The building is zoned C1 - Local Retail Commercial, offering flexibility for various uses. The property benefits from its location on a busy retail corridor, near many national and local retailers, and within two miles of I-77. The average household income within a one-mile radius is $116,571. The building has 3-phase, 240V, 200-amp power. The tenant is responsible for NNN expenses, including taxes (approximately $1.33/SF in 2023), insurance (approximately $0.23/SF in 2024), utilities, trash removal, snow plowing, and landscaping. Additional land at the rear of the building offers potential for expansion or outdoor amenities. Please note that the building is currently occupied

• CAP approach

  CAP return

  Valuation

  6%

  $2,425,746

  6.5%

  $2,239,150

  7%

  $2,079,210

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,045,349

  Geo Method

  $2,045,349

• Alternative Use

  Use

  Valuation

  Residential

  $1,888,806

  Hospitality

  $1,730,137

  Educational

  $1,439,453

  Medical

  $1,488,958

  Retail

  $2,239,150

Location Insight

City

Broadview Heights

County

Cuyahoga

State

Ohio

Latitude

41.3438

Longitude

-81.6839

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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