Mixed-Use Corner
For Sale
$1,050,000
1500 Race St, Cincinnati, OH 45202
First-floor restaurant space is currently leased, providing income within a mixed-use property at a prominent corner.
Property Size5,873 SF
Days on Market113
Property Features for 1500 Race St
General Information
Standard status
Active
Size
5,873 SF
Property subtype
Other
Building Details
Building Size
5,873 SF
Year Built
1895
Stories
4
Listing Agency:
Coldwell Banker Realty
Listed By:
Nicholas Pesola
Source:
Commercialcafe
Added: Jul 3
Changed: Oct 16
Last Checked: Oct 20 at 5:37PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This income-producing mixed-use property is anchored by a second-generation restaurant space on the first floor, which is currently leasing for $5,000 per month. The asset is presented as a cash-flowing mixed-use option with room to evolve over time.
Located on the prominent corner of Race and W 15th in Cincinnati’s Over-the-Rhine, the building benefits from a corner position at 1500 Race Street. The surrounding area is characterized in the offering materials by strong residential demand and continued private investment, supporting the property’s hospitality-focused context.
The property is offered for sale as a conventional commercial real estate asset with an existing restaurant tenant at street level, combining an established income base with continued market relevance tied to the neighborhood’s ongoing growth.
Located on the prominent corner of Race and W 15th in Cincinnati’s Over-the-Rhine, the building benefits from a corner position at 1500 Race Street. The surrounding area is characterized in the offering materials by strong residential demand and continued private investment, supporting the property’s hospitality-focused context.
The property is offered for sale as a conventional commercial real estate asset with an existing restaurant tenant at street level, combining an established income base with continued market relevance tied to the neighborhood’s ongoing growth.
Key Highlights
- 1895‑built mixed‑use property in Over‑the‑Rhine
- First‑floor restaurant space is currently leased for $5,000/month
- Anchored by a 2nd generation restaurant location within the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,651
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,573,020
$1.6M
Cap Rate 7%
$1,123,586
$1.1M
Cap Rate 9%
$873,900
$873.9K
Market Conditions
NOI Build-Up for 5,873 SF
Gross rent
$112.8K $19.20/SF
− Vacancy
−$7.9K −$1.34/SF
EGI
$104.9K $17.86/SF
− OpEx
−$26.2K −$4.46/SF
NOI
$78.7K $13.39/SF
Area
Cincinnati, OH
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,573,020
Cap Rate 7%
$1,123,586
Cap Rate 9%
$873,900
Alternative Uses
Best Use
Specialty Retail
$1.12M
$983.1K – $1.31M
NOI $78,651 @ 7.0% cap · market cap 7.49%
Second Best
Mixed Use
$1.02M
$892.0K – $1.19M
NOI $71,357 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,723 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
4,284
Businesses Nearby
Under-served
Demand for This Use
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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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Market
Vacancy Rate% for Retail in Cincinnati, OH
Frequently Asked Questions
What type of property is this?
Conventional restaurant - First-floor restaurant space is currently leased, providing income within a mixed-use property at a prominent corner.
Where is this conventional restaurant located?
The property is located at 1500 Race St Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 1895‑built mixed‑use property in Over‑the‑Rhine; First‑floor restaurant space is currently leased for $5,000/month; Anchored by a 2nd generation restaurant location within the building
