Proforma NOI based on YTD 6/30/2024 current financials.
Located in an Opportunity Zone.
Offering Memorandum available on request with rent roll with signed NDA.
Description
The Subject Property is a well maintained 15,842 SF two story office building. The building also includes an elevator and a 3,830 SF basement. The property is located on the newly redeveloped Front Street in Cuyahoga Falls. The property is within minutes of State Route 8 for superior access to the Akron, Canton, and Cleveland marketplaces.
This property is 100% leased with a mix of short and long term tenants. The anchor tenant that occupies half the building, has three years remaining on their term. Currently, the anchor tenant is in the process of investing $50-$75K into their space including remote security. The surrounding area includes retail, restaurant amenities, with ample city parking surface lots and decks.
Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."
Why are Real Estate Incentives Important and to Whom?
"Incentives" are vital today and in the future because:
U.S. Public: Many incentives focus on job creation and Affordable Housing
Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.
