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$1 Auction – Cincinnati Adaptive Reuse 33 W 4th St 44 Room Hotel Cincinnati, OH 45202 $125,000 ($2,841/Room)
Investment Highlights
- ABSOLUTE $1 AUCTION | Cincinnati Adaptive Reuse | Downtown Development Zoning | Tax Credit Eligibility | Hotel Conversion | AUCTION MAY 4-6
- Prior to undergoing a corporate restructuring, Seller had completed predevelopment with key approvals advanced, tax credits approved, and construction
- Located in a Federal Qualified Opportunity Zone and designated historic by the National Park Service, creating a compelling redevelopment
- ±42,000 SF historic downtown building positioned for adaptive reuse or other redevelopment as a 44-room boutique hotel or alternative multifamily/hosp
- Included in the Sale is all documentation related to Seller’s planned 44-key boutique hotel: full set of previously approved Construction Drawings
- Site qualifies for a host of public financing initiatives and tax credits including but not limited to: State Historic Preservation Tax Credits
Executive Summary
Marcus & Millichap is pleased to present the opportunity to acquire 33 W 4th Street, a historic ±42,000-square-foot redevelopment project in the heart of downtown Cincinnati (the “Property”). Originally planned as Carding House, a 44-room boutique hotel, the Property offers buyers the ability to capitalize on substantial predevelopment work, initial construction progress, and a layered incentive stack materially reducing the total project basis. Located near Cincinnati’s leading entertainment, convention, and business destinations, the asset is well positioned for a sponsor seeking a high-profile adaptive reuse opportunity with hospitality, multifamily, or other use creative use potential.
Downtown Cincinnati is an evolving urban core where older office buildings are increasingly being repositioned for residential, hospitality, and mixed-use, creating a compelling backdrop for adaptive reuse investment. Anchored by a walkable CBD and access to eight Fortune 500 headquarters, along with strong employment, dining, entertainment, and cultural amenities, the submarket offers compelling potential for boutique hotel or multifamily redevelopment. Nearby attractions and amenities within walking distance include “The Banks”, Great American Ball Park, Paycor Stadium, Duke Energy Convention Center, Fountain Square, Hard Rock Casino, and more. For investors, Downtown Cincinnati presents an opportunity to capitalize on the conversion of underutilized office product within one of the region’s most established urban districts.
Downtown Cincinnati is an evolving urban core where older office buildings are increasingly being repositioned for residential, hospitality, and mixed-use, creating a compelling backdrop for adaptive reuse investment. Anchored by a walkable CBD and access to eight Fortune 500 headquarters, along with strong employment, dining, entertainment, and cultural amenities, the submarket offers compelling potential for boutique hotel or multifamily redevelopment. Nearby attractions and amenities within walking distance include “The Banks”, Great American Ball Park, Paycor Stadium, Duke Energy Convention Center, Fountain Square, Hard Rock Casino, and more. For investors, Downtown Cincinnati presents an opportunity to capitalize on the conversion of underutilized office product within one of the region’s most established urban districts.
Property Facts
| Price | $125,000 | Construction Status | Proposed |
| Price Per Room | $2,841 | Building Size | 42,000 SF |
| Sale Type | Investment | No. Rooms | 44 |
| Property Type | Hospitality | No. Stories | 4 |
| Property Subtype | Hotel | Year Built | 2029 |
| Building Class | B | Corridor | Interior |
| Lot Size | 0.24 AC | Opportunity Zone |
Yes
|
| Zoning | C | ||
| Price | $125,000 |
| Price Per Room | $2,841 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.24 AC |
| Construction Status | Proposed |
| Building Size | 42,000 SF |
| No. Rooms | 44 |
| No. Stories | 4 |
| Year Built | 2029 |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | C |
Amenities
- Restaurant
- On-Site Retail
- High Speed Internet Access
- Boutique/Lifestyle Hotel
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 2 | $366.00 | - |
| Guest Room | 42 | $239.00 | - |
1 1
Exceptionally walkable
100/100
Exceptionally drivable
100/100
Exceptional public transit
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 083-0001-0039 | Improvements Assessment | $37,513 |
| Land Assessment | $295,617 | Total Assessment | $333,130 |
Property Taxes
Parcel Number
083-0001-0039
Land Assessment
$295,617
Improvements Assessment
$37,513
Total Assessment
$333,130
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$1 Auction – Cincinnati Adaptive Reuse | 33 W 4th St
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