680 Broadway Ave - Bank FOR SALE


Bedford, OH 44146
$805,000 USD
650-279-5790
680 Broadway Ave, Bedford, OH for Sale
$805,000 USD
Bank - FOR SALE
1/7
null | 7.45% Cap Rate

680 Broadway Ave
Bedford, OH 44146


HIGHLIGHTS

  • Absolute NNN lease with corporate guarantee by U.S. Bank.
  • Occupied by U.S. Bank since 2011
  • Investment supported by tenant’s investment-grade credit rating and national presence.
  • Located on a downtown Bedford corridor with pedestrian and vehicle traffic.
  • Priced below replacement cost at under $118/sq. ft.

OVERVIEW

This is a U.S. Bank branch located in downtown Bedford, Ohio—a core retail corridor just 28 miles southeast of Cleveland. The property spans 6,825 SF and includes valuable basement space used by U.S. Bank for storage and an employee break room. Situated within a high-visibility district, this asset benefits from its established location within Cuyahoga County and proximity to major highways including I-480 and I-271. U.S. Bank, which operates over 2,000 branches and holds an S&P AA- investment-grade rating, has shown a strong commitment to this location with an early 5 year extension of an absolute NNN lease through November 2031, that calls for 2.0% annual rent escalations during renewal options. The structure of this absolute NNN lease transfers all operating responsibility to the tenant, providing investors with predictable cash flow and no management obligations. Tenant is paying below market rent of just $.73/sq. ft. NNN The property sits in a dense trade area with over 59,000 residents within a 3-mile radius and is adjacent to essential retailers, local services, and community amenities. Its downtown positioning and enduring tenancy make this an attractive long-term investment opportunity anchored by a creditworthy tenant.

FOR SALE DETAILS

PRICE

$805,000 USD

PRICE/SF

$118 USD /SF

CAP RATE

7.45%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

U.S. Bank Branch

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1921

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

H-D

APN/PARCEL ID

812-13-051

ASK ABOUT THIS PROPERTY

Steve SauterMarcus & MillichapMore Info
650-279-5790

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Steve SauterMarcus & MillichapMore Info
650-279-5790

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.