1614 Walnut St.
- +/-10,800 SF — Approximately 75% complete
- Dual commercial storefront configuration on Walnut Street provides two independent commercial income streams alongside 5 residential apartments
- Stabilized proforma gross rent of $196,585 in Year 2, growing to $212,256 by Year 5, with projected NOI of $128,535 in Year 2
- Storefront unit alone projected at $80,367 annual rent in Year 2, underscoring the asset's commercial income significance
- CC-P-T zoning supports the existing mixed-use configuration and provides long-term operational flexibility
- 1870-era historic structure — potential Historic Tax Credit eligibility
- Opportunity Zone designation — Situated in an opportunity zone, the Property provides potential tax advantages to a purchaser
- Subject To Lender Approval
Property Description
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!
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 7 |
| Lot Size: | 0.04 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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