605 Race Street
Cincinnati, OH 45202 ·
44,112 SF · Special Purpose For Sale
Sixth & Race
|Building Size||44,112 SF||Tenancy||Multiple|
|Property Type||Special Purpose||Property on Ground Lease?||Yes|
Special Purpose (Other)More...
|Property Use Type||Net Lease Investment with 10+ years left on lease||Lot Size||0.30 AC|
|Listing ID: 17390282||Date Created: 10/26/2011||Last Updated: 08/14/2013|
A mixed-use building developed by The Western & Southern Life Inusrance Company, Sixth & Race is anchored by Walgreens on the first floor with 30 Class-A apartment units on three floors above. Developed in 2004, the units are impeccably maintained, smartly configured and offer private balconies, in-unit washer and dryer, designer kitchens, and individually-controlled heating and air conditioning units. Walgreens has been on the corner for over 40 years.
Sixth & Race is located in Downtown Cincinnati within one and a half blocks of Fountain Square, the social heart of Downtown. Less than one block away is a parking garage for the residents with a discounted rate per an agreement with the City of Cincinnati. Within a few blocks are many restaurants, bars, and entertainment venues which has helped contribute to the approximately 95% occupancy history the property has enjoyed since it was completed. With the redevelopment of Washington Park to the north and the development of the Horseshoe Casino to the east, Downtown Cincinnati will continue to be a highly desirable place in which to live.
- Outstanding Downtown Cincinnati location
- Excellent occupancy history
- Extremely tight residential market
- Steady cash-flow provided by Walgreens lease
- Significant real estate tax reimbursement from Walgreens
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