For Sale
$1,274,000

1500 Race StCincinnati, OH 45202

Prime location, vacant, includes FF&E

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional Over-the-Rhine restaurant property, located at 1500 Race Street in Cincinnati, Ohio, presents a unique investment opportunity. The property boasts a prime location on the streetcar line, offering phenomenal visibility and high foot traffic. The existing restaurant space totals 3,122-4,124 square feet, encompassing both a first-floor and basement level, each approximately 1561 square feet. A significant advantage is the inclusion of an enclosed private courtyard and promenade seating area, leased from the city. All existing restaurant furniture, fixtures, and equipment (FF&E), along with a D5-D6 liquor license, are included in the sale price of $1,274,000. An existing CRA tax abatement is payable through 2026. Beyond the restaurant space, this listing includes three undeveloped upper floors (totaling approximately 3,000 sq ft) of a four-story building, with a planned HOA to be formed. Zoned CC-P, these upper floors offer significant potential for residential conversion, with existing building plans for 1 studio, 1 one-bedroom, and 2 two-bedroom units available for transfer to the new owner. The building features new Marvin windows and a roof installed in 2016, and the upper floors have rough-ins for plumbing, gas, and electric. The 0.082-acre lot is situated within easy walking distance of Washington Park, Music Hall, Vine Street, TQL Stadium, and Findlay Market, ensuring a diverse customer base and strong potential for future success. The property consists of two units and was built in 1895. This is a truly remarkable opportunity to acquire a turn-key restaurant with significant upside potential in one of Cincinnati's most vibrant neighborhoods.

Highlights

  • Prime Over-the-Rhine restaurant location at 1500 Race Street, Cincinnati.
  • 3,122-4,124 SF restaurant space (1,561 SF each floor) with enclosed courtyard and promenade seating.
  • Includes FF&E and D5-D6 liquor license; $1,274,000 sale price.
  • CRA tax abatement through 2026.
  • Three undeveloped upper floors (approx. 3,000 SF) with residential conversion plans; zoned CC-P.
  • New Marvin windows (2016), new roof (2016), and upper floor rough-ins for utilities.

Property Details for 1500 Race St

Property type
Retail properties, Restaurants
Square Feet
3,122 SF
Year Built
1895
Lot Size (sq. ft)
3,572 SF
Units
2

Location Insight

City
Cincinnati
County
Hamilton
State
Ohio
Latitude
39.111503890002
Longitude
-84.517241093888
1500 Race St, Cincinnati, Ohio

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1500 Race St
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