Five-Story Mixed-Use
For Sale
$1,650,000
1008 Race Street, Cincinnati, OH 45202
Ground-floor retail is paired with upper-level office or live-work space, with a kitchen on every floor.
Property Size10,000 SF
Price / SF$165
Days on Market129
Property Features for 1008 Race Street
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Commercial
Site & Location
Neighborhood
Otr
Mixed-Use Components
retail, office
Amenities
kitchen
Building Details
Building Size
10,000 SF
Year Built
1880
Buildings
1
Stories
5
Tenancy
Multi
Listing Agency:
Keller Williams Seven Hills Re
(513) 371-5070
Listed By:
Leticia Martinez
(513) 304-5592
Source:
Galbraithrealtors
Added: Jun 17
Changed: Oct 23
Last Checked: Oct 23 at 3:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Seven Hills Re
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Investment Insights
Based on property information with market context.
This five-story mixed-use building contains approximately 10,000 square feet, with about 2,000 square feet on each level. The planned configuration places retail on the ground floor and office or live-work space on the upper floors. A kitchen serves every level, and the building has been renovated. The property was built in 1880.
Bathroom layouts vary by floor: the first, second, and fourth levels each have two half baths; the third and fifth each include one full bath and one half bath. Floors one through three are vacant and are also offered for lease.
Bathroom layouts vary by floor: the first, second, and fourth levels each have two half baths; the third and fifth each include one full bath and one half bath. Floors one through three are vacant and are also offered for lease.
Key Highlights
- Approximately 10,000 square feet across five stories, with about 2,000 square feet per floor
- Retail use on the first floor; office or live‑work space planned above
- Kitchen on every floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$121,500
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,430,000
$2.4M
Cap Rate 7%
$1,735,714
$1.7M
Cap Rate 9%
$1,350,000
$1.4M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$216.0K $21.60/SF
− Vacancy
−$21.6K −$2.16/SF
EGI
$194.4K $19.44/SF
− OpEx
−$72.9K −$7.29/SF
NOI
$121.5K $12.15/SF
Area
Cincinnati, OH
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,430,000
Cap Rate 7%
$1,735,714
Cap Rate 9%
$1,350,000
Alternative Uses
Best Use
Mixed Use
$1.74M
$1.52M – $2.03M
NOI $121,500 @ 7.0% cap · market cap 7.36%
Second Best
Office B
$1.71M
$1.49M – $1.99M
NOI $119,351 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,150 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,220
Businesses Nearby
Explore this area
Business Placement
Demographics for 45202, OH
16,883
Population
11,432
Households
1.5
Avg Household Size
34
Median Age
63%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
6,253
Density / Sq Mi
$87,930
Median Household Income
$63,901
Median Earnings
$1,524
Median Rent
$444,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Cincinnati, OH
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor retail is paired with upper-level office or live-work space, with a kitchen on every floor.
Where is this mixed-use property located?
The property is located at 1008 Race Street Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Approximately 10,000 square feet across five stories, with about 2,000 square feet per floor; Retail use on the first floor; office or live‑work space planned above; Kitchen on every floor
