Mixed-Use Building with
288 Ludlow Avenue, Cincinnati, OH 45220
For Sale
$1,950,000
A street-level restaurant and eight apartments share one property, with dedicated parking and on-site laundry.
Property Size12,538 SF
Price / SF$155.53
Days on Market98
Property Features for 288 Ludlow Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Neighborhood
Road Access
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
on-site laundry room
Display Window
Sidewalks
Lights
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
Coldwell Banker Realty
(513) 321-9944
Listed By:
Laura Benson · License #OH 2017001238
(513) 312-6429
Source:
Falgnerrealty
Added: Aug 3
Changed: Nov 7
Last Checked: Nov 7 at 2:08PM
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.
Built in 1910, this 12,538-square-foot mixed-use property combines a first-floor restaurant occupied by J. Gumbo’s with eight residential apartments. The apartment mix includes two lofts, three one-bedroom units, and three two-bedroom units. Additional features include an on-site laundry room, a large basement, and 21 dedicated parking spaces. The zoning is listed as Multi Family, Business.
The property occupies the signalized corner of Clifton and Ludlow Avenues in Cincinnati’s Clifton Gaslight District, between Skyline Chili and Dewey’s Pizza.
The property occupies the signalized corner of Clifton and Ludlow Avenues in Cincinnati’s Clifton Gaslight District, between Skyline Chili and Dewey’s Pizza.
Key Highlights
- 12,538‑square‑foot mixed‑use property built in 1910
- Eight apartments: 2 lofts, 3 one‑bedroom units, and 3 two‑bedroom units
- First‑floor restaurant occupied by J. Gumbo’s
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$167,909
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,358,180
$3.4M
Cap Rate 7%
$2,398,700
$2.4M
Cap Rate 9%
$1,865,656
$1.9M
Market Conditions
NOI Build-Up for 12,538 SF
Gross rent
$240.7K $19.20/SF
− Vacancy
−$16.9K −$1.34/SF
EGI
$223.9K $17.86/SF
− OpEx
−$56.0K −$4.46/SF
NOI
$167.9K $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%
$3,358,180
Cap Rate 7%
$2,398,700
Cap Rate 9%
$1,865,656
Alternative Uses
Best Use
Specialty Retail
$2.40M
$2.10M – $2.80M
NOI $167,909 @ 7.0% cap · market cap 8.61%
Second Best
Mixed Use
$2.18M
$1.90M – $2.54M
NOI $152,337 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$2.49M
$2.18M – $2.91M
NOI $174,466 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,387
Businesses Nearby
Explore this area
Business Placement
Demographics for 45220, OH
15,466
Population
7,400
Households
2.1
Avg Household Size
28
Median Age
63%
College-Educated
96%
High-School Grad
2.9 sq mi
ZIP Area
5,333
Density / Sq Mi
$51,404
Median Household Income
$26,866
Median Earnings
$954
Median Rent
$385,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Mixed-use properties in Cincinnati
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A street-level restaurant and eight apartments share one property, with dedicated parking and on-site laundry.
Where is this mixed-use property located?
The property is located at 288 Ludlow Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 12,538‑square‑foot mixed‑use property built in 1910; Eight apartments: 2 lofts, 3 one‑bedroom units, and 3 two‑bedroom units; First‑floor restaurant occupied by J. Gumbo’s
