1224 Huron Road

Sales Price

$2,900,000

Property Listing

https://www.hoffleigh.com/listing/1224-huron-road/

Property Details

• Property Type: Mixed Use
• Building Size: 17,424 SF

Overview

Rare opportunity to own one of the newest mixed-use residential buildings in the rapidly growing Theater District. 1224 Huron Road, AKA: Starr Piano Lofts, was the 2018 Downtown Cleveland Alliance Development award recipient. Starr Piano Lofts in PLAYHOUSE SQUARE, CLEVELAND, OHIO: Hoff & Leigh is proud to offer the newest mixed-use, 9 residential & 1 retail unit, The Starr Piano Lofts. Located at 1224 Huron Ave, Cleveland, OH 44115, in the Playhouse Square / Theater District. Offered for Sale: 2,900,000. The Starr Piano Lofts is an award-winning historical renovation and consists of 3 one-bedroom & one-bath units and 6 two-bedroom & two-bath units, all with in-suite laundry. Three units overlooking Playhouse Square. The property is a solid fully leased investment opportunity! Storage lockers and parking can provide additional income. Excellent location, one block from E 9th Street, all major sports arenas and at the corner of the RTA Health-Line. Owner paid trash removal and water / sewer; tenant paid electric only. Projected NOI at increased market rates at $192,032 or a 6% cap at the asking price of $2,900,000. Currently the property is 100% occupied!

Highlights

• 2018 Downtown Cleveland Alliance Development award recipient
• 9 residential units (3 one-bedroom & one-bath, 6 two-bedroom & two-bath, all with in-suite laundry)
• 1 retail unit
• 3 units overlooking Playhouse Square
• Fully leased (100% occupied)
• Storage lockers and parking can provide additional income
• Owner paid trash removal and water / sewer; tenant paid electric only
• Projected NOI at increased market rates at $192,032 or a 6% cap at the asking price of $2,900,000

For more information on this property or if you would like to set up a time for a showing, call Joe Zumpano at 330.990.0847.