23840 Broadway AveBedford, OH 44146

Property Details for 23840 Broadway Ave

Year built

1993

Construction

TYPE NOT SPECIFIED

Lot size

1.55 AC

Property size (Sq ft)

1,974 SF

Zone code

GB

Property type

Drive through restaurants

APN

795-06-019

APU

79506019

Description

This 1,974 square foot restaurant building sits on a 1.55-acre outparcel in the Hawthorne Valley Power Center in Bedford, Ohio (44146), a high-traffic location with excellent visibility. The property is currently vacant and available for sale at $800,000 ($405.27/SF), lease, or ground lease. The center boasts strong co-tenancy with national retailers including Sam's Club, Levin Furniture, Ollie's, The Tile Shop, Woodcraft, and Wendy's, among others. Nearby food establishments include McDonald's and Dunkin'. This Class B property benefits from a dense population base: within a 5-mile radius, there are 128,585 people with an average household income of $81,356. High traffic counts are a key advantage, with 15,682 vehicles per day (VPD) passing the property and easy access to I-271 (113,466 VPD, per ODOT TIMS). The center's super-regional draw is further enhanced by its position as the only Sam's Club, Ollie's, and Levin Furniture within a 10-mile radius. This presents a unique redevelopment opportunity in a prime retail location. The property is situated at 23840 Broadway Ave, Bedford, Cuyahoga County, Ohio.

• CAP approach

  CAP return

  Valuation

  6%

  $547,065

  6.5%

  $504,983

  7%

  $468,913

• Comparable approach

  Method

  Valuation

  Relative Method

  $465,313

  Geo Method

  $465,313

• Alternative Use

  Use

  Valuation

  Residential

  $425,972

  Hospitality

  $390,188

  Educational

  $324,632

  Medical

  $335,797

  Retail

  $504,983

Location Insight

City

Bedford

County

Cuyahoga

State

Ohio

Latitude

41.366

Longitude

-81.5098

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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