(MENAFN- EIN Presswire)
Exterior view of the McLure Hotel
Bryce Custer, CCIM, SIOR
NAI Burns Scalo West Virginia and Pennsylvania
This iconic property, currently being marketed by Bryce Custer of NAI Burns Scalo, presents an exceptional opportunity for Hotel or Apartment owners.
The property's rich past and prime location make it an ideal candidate for transformation into a unique residential space that preserves its historical character while meeting modern housing needs.” - Bryce Custer, CCIM, SIOR
WHEELING, WV, UNITED STATES, November 11, 2024 /EINPresswire / -- The McLure Hotel in Wheeling, West Virginia, stands as a historic landmark with a rich legacy spanning nearly 170 years. This iconic property, currently being marketed by Bryce Custer , CCIM, SIOR of NAI Burns Scalo , presents an exceptional opportunity for conversion into apartments, aligning with the growing trend of adaptive reuse in the real estate market.
The McLure Hotel, originally opened on March 4, 1852, has been a cornerstone of Wheeling's downtown for generations. Throughout its illustrious history, the hotel has hosted numerous notable figures, including at least 11 U.S. presidents, such as Eisenhower, Kennedy, and Nixon. The property's rich past and prime location make it an ideal candidate for transformation into a unique residential space that preserves its historical character while meeting modern housing needs.
Situated at 1200 Market Street in downtown Wheeling, the 173 room McLure Hotel and 30-unit apartment building occupies a strategic position that would be highly attractive to potential residents. Its central location offers easy access to amenities, businesses, and cultural attractions, making it an appealing option for those seeking urban living with a touch of history. Included in the sale is the seven story 220 space parking garage with direct access to the hotel, ballroom and apartments.
The McLure Hotel's structure and layout present several advantages for conversion to apartments: The hotel's current configuration can be adapted to create a variety of apartment sizes, from studios to larger units, utilizing the existing room layouts and common areas.
Converting the McLure Hotel to apartments could be more cost-effective than new construction. Hotel-to-housing conversions often come at a fraction of the cost of building new units.
Adaptive reuse of this historic building would preserve an important piece of Wheeling's architectural heritage while giving it new life and purpose.
The hotel's existing amenities, such as the lobby and potential common areas, could be repurposed to create attractive shared spaces for residents.
Wheeling, like many cities, could benefit from increased housing options, particularly in its downtown area. Converting the McLure Hotel into apartments would address this need while contributing to the revitalization of the city center.
The McLure Hotel in Wheeling, West Virginia, represents an exceptional opportunity for conversion into apartments. Its storied history, prime location, and adaptable structure make it an ideal candidate for adaptive reuse. By transforming this iconic property into residential units, developers could not only meet the growing demand for urban housing but also contribute to the preservation and revitalization of Wheeling's downtown area. With the right vision and execution, the McLure Hotel could once again become a vibrant centerpiece of the community, offering unique living spaces that blend historical charm with modern comfort.
For additional information and Offering Memorandum, contact Bryce Custer, CCIM, SIOR at (330) 418-9287 or ....
About NAI Burns Scalo:
NAI Burns Scalo is a leading provider of commercial real estate services worldwide. With a commitment to providing innovative and strategic real estate solutions, the firm specializes in various services, including leasing, property management, investment sales, corporate services, and construction and development, as a member of the NAI Global Network of over 325 offices and 6,000 professionals covering nearly every major market nationally and across the globe. When you work with one of us, you work with all of us.
About NAI Global:
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 5,100 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. To learn more, visit .
Bryce Custer
NAI Burns Scalo
+1 330-418-9287
email us here
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