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Multifamily

The Acadian

21480 Sheldon Rd, Brook Park, OH 44142

Listing Price: Request For Offer

Number of Units
178
Occupancy
95.0%
Gross SF
121,450

Investment Overview

Marcus & Millichap is proud to present The Acadian, 178 units located in the Cleveland suburb of Brook Park.

Investment Highlights

  • Locally Owned and Self-Managed by the Original Developer for Over the Last 60 Years
  • Desirable Mix of One-, Two- and Three-Bedroom Floor Plans; 77 Percent are Two-Bedroom
  • In-Place Rents are More than $250 Below Direct Competition and More han $350 Below Renovated Competition
  • Over $515,000 of Potential Annual Revenue Growth through Unit and Common Area Renovations
  • Additional Net Operable Income Growth through Utility Conservation Program and Reimbursements
  • Strong Historical Occupancy - 94 Percent or Higher Since 2019
  • Located Within the Desirable Berea School District: Ranked as a Four-Star District in 2023 by Ohio Department of Education
  • Five Minutes to: Baldwin Wallace University Berea's Major Retail Corridor - the Intersection of Bagley Road and Front Street The Cleveland Browns Training Facility Cleveland Hopkins International Airport IX Exhibition Center I-480 and I-71

Exclusively Listed By

Financing By

Multifamily

The Acadian

Listing Price: Request For Offer

Number of Units
178
Occupancy
95.0%
Gross SF
121,450

Investment Highlights

  • Locally Owned and Self-Managed by the Original Developer for Over the Last 60 Years
  • Desirable Mix of One-, Two- and Three-Bedroom Floor Plans; 77 Percent are Two-Bedroom
  • In-Place Rents are More than $250 Below Direct Competition and More han $350 Below Renovated Competition
  • Over $515,000 of Potential Annual Revenue Growth through Unit and Common Area Renovations
  • Additional Net Operable Income Growth through Utility Conservation Program and Reimbursements
  • Strong Historical Occupancy - 94 Percent or Higher Since 2019
  • Located Within the Desirable Berea School District: Ranked as a Four-Star District in 2023 by Ohio Department of Education
  • Five Minutes to: Baldwin Wallace University Berea's Major Retail Corridor - the Intersection of Bagley Road and Front Street The Cleveland Browns Training Facility Cleveland Hopkins International Airport IX Exhibition Center I-480 and I-71

Investment Overview

Marcus & Millichap is proud to present The Acadian, 178 units located in the Cleveland suburb of Brook Park.

Exclusively Listed By

Financing By

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