Marcus & Millichap is pleased to present, Middleton, and Shiloh, 2 properties consisting of 22 units located in the Clifton sub-market in Cincinnati, Ohio. Located northwest of the University of Cincinnati, this property sits in a great spot with its access to the University of Cincinnati campus, downtown Cincinnati, as well as I-75 and I-71.
A City Built on Strong Fundamentals
There are seven Fortune 500 companies in Cincinnati. Out of the Fortune 500 companies, 400 of them have a presence in the city as well. Cincinnati has three Fortune Global 500 companies. Out of the five Fortune Global 500 companies in the state of Ohio, three of them call Cincinnati home. Cincinnati’s GDP per capita grew at 1.3% higher than the national average of 1.2%. Cincinnati’s future growth over the next 10 years is expected to be 29.8%.
Limited supply assets
The University of Cincinnati has seen an 9.71% increase in student enrollment in the last 8 years as it went from an enrollment of 42,656 in 2013 to 46,798 in 2020. This equates to an average of a 1.21% increase per year. Each of those 8 years, the university has set a record for enrollment. This constantly growing student population has required more housing units. However, since 2015, there have been only 4 new properties and 621 new units added to the market.
High demand asset
As student enrollment at the University of Cincinnati continues to increase, it will increase demand for student housing and bring more renters to the area surrounding the university. This increased demand for housing will allow assets like Morrison, Middleton, and Shiloh to maintain strong occupancy numbers as well as rent increases.