Mixed-Use Corner
1500 Race Street Cincinnati, OH 45202
1500 Race Street, Cincinnati, OH, 45202
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For Sale
Contact for pricing
First-floor restaurant space is currently leased, providing income within a mixed-use property at a prominent corner.
Property Size5,873 SF
Price / SF$178.78
Days on Market20
Property Features for 1500 Race Street
General Information
- Standard status
- Active
- Size
- 5,873 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1895
Listing agency
Coldwell Banker Commercial
Listed by
Nick Pesola · License #OH 2024001604
Source
Crexi
Added: Jul 2 Updated: Jul 20 at 6:17PM Checked: Jul 20 at 6:17PM
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 Commercial
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
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $112.8k | $19.20 |
| − Vacancy | −$7.9k | −$1.34 |
| EGI | $104.9k | $17.86 |
| − OpEx | −$26.2k | −$4.46 |
| NOI | $78.7k | $13.39 |
5,873 SF · lease $19.20/SF/yr · vacancy 7.00% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Biscuit Sammies
Restaurant
Similar For Sale Nearby
FAQs
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 Street 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
