- For Sale First Bid Meets Reserve: $540,000
- Property Type Multi-Family
- Property Size 9,156 SF
- Units 9
- Lot Size 0.05 Acre
- Property Tenancy Multi-Tenant
- Year Built 1860
- Date Updated May 7, 2026
Description
Over-The-Rhine is Cincinnati’s oldest and most historic neighborhood that is just north of downtown. Over the past few years we have seen the revitalization and transformation into a hotspot destination for everyone to enjoy. Strategically located between two large employment centers, the CBD and the Uptown medical and university community. The small neighborhood has a plethora of retail and dining options including the Eagle OTR and Rhinegeist Brewery and is in close proximity to Findlay Market, Ohio’s oldest surviving municipal market house. OTR has the highest walkability score of 94, making it the most walkable neighborhood in the city highlighted by just a short walk to the new 50,000 sq foot Kroger featuring On The Rhine Eatery and Event Center.116 & 118 E McMicken Ave., Cincinnati, OH 45202 presents a rare chance to acquire a contiguous mixed-use and development assemblage in the heart of Over-the-Rhine. Offered together, this unique opportunity combines a partially renovated historic building with a cleared adjacent infill lot, creating immediate upside and long-term flexibility in one of Cincinnati’s most dynamic urban corridors. 116 & 118 E McMicken Ave. includes 116 E McMicken, a roughly 60% complete mixed-use asset planned for 8 one-bedroom apartments and 1 ground-floor commercial storefront, plus 118 E McMicken, a 0.101-acre vacant lot ready for new development or potential parking. With CC-P-T zoning, Opportunity Zone designation, and a 30-year TIF abatement through 2032, the assemblage is positioned for multifamily, mixed-use, or commercial execution. Located in highly walkable OTR near Downtown Cincinnati, Findlay Market, and major highway access via I-75 and I-71, this offering delivers compelling redevelopment potential, tax advantages, and future income growth in a sought-after neighborhood!
Highlights
- Both parcels benefit from a 30-year TIF abatement running through 2032, compressing tax exposure across the combined position during the hold and development period
- Combined contiguous assemblage—an approximately 60% complete mixed-use building (8 residential + 1 commercial) paired with an adjacent cleared 0.101-acre development-ready lot, available in a single transaction
- Designated Opportunity Zone with CC-P-T zoning across both parcels — supports multifamily, mixed-use, and commercial programs with significant long-term development flexibility
- OTR's highest walkability score in Cincinnati (94), average asking rents of ~$1,420/month, and direct proximity to I-75/I-71 — a submarket with sustained demand fundamentals and limited comparable supply
- Stabilized proforma gross rent of $114,070 in Year 2 at 116 E McMicken.
- Subject To Lender Approval
False
Contacts
Michael Bergman
Astonish
Location
Located at 116-118 E McMicken Ave., Cincinnati, OH 45202, this property is part of the Over - The Rhine neighborhood and Cincinnati market.
Contact Listing Broker
Michael Bergman
Astonish