Listed by Hanna Commercial Real Estate, Hanna Commercial Real Estate Cleveland
$3,900,000
Broadway Shoppes
Details
APN 125-26-014
Property Type Retail
Sub Type Shopping Center
Square Footage 53,700
Cap Rate 9.40%
NOI $367,708
Occupancy 100%
Tenancy Multi
Year Built 1988
Acreage 2.840
Investment Type Value Add
Investment Opportunity
Marketing description
Hanna Commercial Real Estate is pleased to exclusively present the opportunity to acquire a neighborhood-serving retail center located at 5841–5857 Broadway Avenue in Cleveland’s historic Broadway–Slavic Village neighborhood. Anchored by national
and regional tenants including Save-A-Lot, Citi Trends, DTLR, MetroPCS, Rent-A-Center, and Rotasu Hibachi, and supplemented by ATM income from Citizens Bank, the center benefits from a stable tenant roster offering essential goods, value-oriented retail, and dining.
The property’s second-largest tenant recently extended their lease through 2032 and will be investing in a remodel at their own
expense in 2025, demonstrating their long-term commitment to the site. Their lease also provides for a 10% rental increase in 2027, further enhancing income stability and growth potential.
This property provides investors with reliable in-place cash flow and the potential to capitalize on continued neighborhood revitalization. The site sits on Broadway Avenue, the primary commercial artery through Slavic Village — a dense, well-established community of more than 20,000 residents, supported by a strong cultural identity and historic commercial corridors. The retail center draws consistent customer traffic by providing convenient, affordable goods and services to local households that rely on neighborhood retail
Listing Contacts
Listed by Hanna Commercial Real Estate, Hanna Commercial Real Estate Cleveland
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$367,707.52
$30,642.29/mo
Valuation Metrics
0
DSCR
9.43%
Cap Rate
9.43%
ROI
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