NEW REDEVELOPMENT OPPORTUNITY IN THE HEART OF DOWNTOWN CLEVELAND LOCATED IN A FEDERALLY-DESIGNATED MARION BUILDING OPPORTUNITY ZONE 1276 W. 3RD ST. CLEVELAND, OHIO
PROPERTY HIGHLIGHTS • 104,698-square-foot, seven-story building • Zoned for Limited Retail Business, which permits office, hotel, multifamily, and retail uses • Excellent location in the heart of the Historic Warehouse District, Cleveland’s original “live-work-play” neighborhood, with trendy loft-style apartments and condos, historic office buildings and numerous nightlife and dining options all within a short walk. • Within walking distance to the Flats East Bank, Public Square and North Coast Harbor • Built in 1913 • Immediate access to Route 2/Cleveland Memorial Shoreway
For more information, contact our licensed real estate salespersons: Terry Coyne Richard Sheehan Vice Chairman Managing Director 216.453.3001 216.453.3032 [email protected] [email protected] ngkf.com/cleveland
The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice..
MARION BUILDING 1276 W. 3RD ST. Additional Exterior CLEVELAND, OHIO
For more information, contact our licensed real estate salespersons: Terry Coyne Richard Sheehan Vice Chairman Managing Director 216.453.3001 216.453.3032 [email protected] [email protected] ngkf.com/cleveland LOWER LEVEL 1 Floor Plans MARION BUILDING 1276 W. 3RD ST. LowerTypical Level: Floor 13,086 Plates SF and Lower Leevel CLEVELAND, OHIO
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First Floor: 13,086 SF
Typical Floor Plate (Floors 2-7): 13,086 SF
For more information, contact our licensed real estate salespersons: Terry Coyne Richard Sheehan Vice Chairman Managing Director 216.453.3001 216.453.3032 [email protected] [email protected] ngkf.com/cleveland
MARION BUILDING 1276 W. 3RD ST. CLEVELAND, OHIO
CLEVELAND APARTMENT MARKET AT-A-GLANCE
New apartment projects reach 92% 6,800 stabilization at an occupancy rate absorption rate of NEW UNITS required to 35 UNITS meet demand PER MONTH through 2030
New one bedroom Average apartment rent Market Rate top out at Rent of $2.80 PSF $1.54 PSF
2018 HOUSING MARKET Total Housing Units 13,149 Total Market Rate Units 7,224 Total Income Restricted Units 4,884 Total Townhomes and Condo Parcels 880 2018 Market Rate Occupancy Rate 92 percent Average Market Rate Rent Per Square Foot $1.54 psf Monthly Rent Range for 1 Bedroom Apartment $818 - $1,934 2018 Condo/Townhome Sales 70 2018 Average Sale Price $248,034 2018 Average Sale Price Per Square Foot $203.45 psf
*Source: Downtown Cleveland Alliance
For more information, contact our licensed real estate salespersons: Terry Coyne Richard Sheehan Vice Chairman Managing Director 216.453.3001 216.453.3032 [email protected] [email protected] ngkf.com/cleveland
The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice..
MARION BUILDING 1276 W. 3RD ST. CLEVELAND, OHIO
EMPLOYMENT OVERVIEW
Cleveland ranks Downtown #7 IN THE U.S. Cleveland with the highest is home to over percentage of workforce Cleveland’s economy generated 105,000 JOBS aged 25-44 with an advanced degree $139 BILLION making it the meet demand in 2018, growing largest job center through 2030 2.9% from the in Ohio previous year
DOWNTOWN CLEVELAND’S LARGEST INDUSTRIES
• Professional, Scientific and Technical Services |18.6 percent • Public Administration | 12.3 percent • Finance and Insurance | 9.1 percent • Educational Services | 8.6 percent • Management of Companies and Enterprises | 7.4 percent
*Source: Downtown Cleveland Alliance
For more information, contact our licensed real estate salespersons: Terry Coyne Richard Sheehan Vice Chairman Managing Director 216.453.3001 216.453.3032 [email protected] [email protected] ngkf.com/cleveland
The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice..
MARION BUILDING 1276 W. 3RD ST. CLEVELAND, OHIO
WORKFORCE HOUSING OPPORTUNITIES
THE ACCOMMODATION AND FOOD SERVICE INDUSTRY IS THE SECOND FASTEST GROWING INDUSTRY DOWNTOWN
WITH ONLY 2.05% OF DOWNTOWN WORKERS LIVING DOWNTOWN, DEMAND FOR WORKFORCE HOUSING TO ACCOMMODATE MIDDLE INCOME WORKERS IS GROWING
*Source: Downtown Cleveland Alliance
For more information, contact our licensed real estate salespersons: Terry Coyne Richard Sheehan Vice Chairman Managing Director 216.453.3001 216.453.3032 [email protected] [email protected] ngkf.com/cleveland
The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice..
MARION BUILDING Amenities Aerial 1276 W. 3RD ST. CLEVELAND, OHIO
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