AUCTION - 1614 Walnut Street

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.1614 Walnut Street, Cincinnati, OH 45202 offers a rare opportunity to acquire a nearly completed mixed-use redevelopment in the heart of Over-the-Rhine. This historic 1870 building totals approximately 10,800 SF and is already configured for 5 one-bedroom/one-bath apartments above 2 ground-floor commercial storefronts, creating multiple future income streams in one of Cincinnati’s most walkable and recognizable urban neighborhoods. Approximately 75% complete, the property gives investors and developers a clear path to finish construction and move toward stabilization. Pro forma projections in the offering indicate gross rent of approximately $196,585 in Year 2, growing to more than $212,000 by Year 5, with projected Year 2 NOI of roughly $128,535. Positioned near Downtown Cincinnati, Findlay Market, Music Hall, and major employment centers, the asset benefits from strong neighborhood momentum, CC-P-T zoning, convenient access to I-71 and I-75, and Opportunity Zone location. The historic character of the building may also support potential Historic Tax Credit upside, making this an exceptional value-add play with both charm and long-term potential!