Historical Special Purpose Sale Listing - Sixth & Race

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Sixth & Race

605 Race Street, Cincinnati, OH 45202

N/A

44,112 SF | Special Purpose

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Sixth and Race

Special Purpose Property - Off Market

Price:
N/A
Building Size:
44,112 SF
Property Type:
Special Purpose
Property Sub-type:
Special Purpose (Other)
Additional Sub-types:
Garden/Low-Rise
Free Standing Bldg
Property Use Type:
Net Lease Investment with
10+ years left on lease
Commission Split:
1.25%
No. Stories:
4
Tenancy:
Multiple
Property on Ground Lease?:
Yes
Year Built:
2004
Lot Size:
0.30 AC
Listing ID
17390282
Last Updated
over 1 year ago

Highlights

  • 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

Description

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.

Map of 605 Race Street, Cincinnati, OH 45202 (Hamilton County)

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