Overview

Description

3915-3917 Reading Road currently operates as an auto storage/repair facility with the ability to convert to a variety of different uses. Located in a highly connected portion of Cincinnati, Ohio, the property totals 66,000 square feet spread across three stories plus a partial basement. The Lenox Building rests on a 0.51-acre parcel and has internal covered parking spaces with a drive-up ramp to all three floors. This building presents new ownership with a unique adaptive reuse project to repurpose the beautiful facade and flexible layout/structure into a variety of uses. Renderings and plans for a potential renovation are included in the data room. A set of plans to convert to multi-tenant auto storage/repair is also included in the data room. With flexible CN-P zoning, some permitted uses include multifamily dwellings and assisted living with conditional uses, including parking facilities and offices. Do not miss the opportunity to acquire this flexible opportunity with almost unlimited conversion potential.


The Lenox Building, will be available to purchase via auction and will take place through a secure online open bid web portal on the Ten-X.com web platform (“The Auction”). The Auction is scheduled to begin May 13th with the closing time for all bidding to fall between 12 PM and 5 PM (Eastern Standard Time) on May 15th. This Schedule is subject to further revision by the Seller and/or Ten-X.com in their sole and absolute discretion. All prospective bidders are encouraged to frequently check the specific property landing page on the Ten-X.com website for any changes.

3915-3917 Reading Road is uniquely positioned to capitalize on nearby demand drivers, immediate access to key commuter routes, and strong surrounding demographics. This asset is less than a mile from Xavier University, the sixth-oldest private Catholic university in the United States, with over 5,000 enrolled undergraduate students. This building is less than 10 minutes from The University of Cincinnati, an FBS school with 27,000 enrolled students. These two institutions help create demand across all asset classes — namely in student housing. Reading Road also offers direct connections into Downtown Cincinnati, helping connect this location with the dense population alongside popular amenities. Nearby demographics include a robust 3-mile population of 134,000 people, earning household incomes of $71,000 annually. This population largely rents as their primary form of housing, with 63% opting to rent rather than own.

Take advantage of the opportunity to acquire this 66,000-square-foot asset with vast value-add upside, which offers new investors or operators key access to robust local demographics, demand drivers, and versatile zoning.

Property tours are available by registration with the brokers only. Tours are available on April 17th and May 1st from 10 am until noon.

Highlights

• 3915-3917 Reading Road offers the rare opportunity to acquire a versatile 66,000-SF asset in the thriving Cincinnati market.
• Prominent location with immediate access to downtown and a short commute to Xavier University and the University of Cincinnati.
• Incredible value-add asset with flexible CN-P zoning that creates unique conversion possibilities, including multifamily.
• Access to robust demographics, with a dense 3-mile population of 134,000 people who earn household incomes of $71,000 annually.
• Less than 10 minutes from popular national retailers like Target, Meijer, Kroger, Planet Fitness, and more.
• Reading Road offers immense visibility to roughly 17,000 vehicles per day allowing for streamlined signage opportunities and demand.

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