$1 Auction – Cincinnati Adaptive Reuse | Downtown Development Zoning | Tax Credit Eligibility | Hotel Conversion

Highlights:

• ±42,000 SF historic downtown building positioned for adaptive reuse or other redevelopment as a 44-room boutique hotel or alternative multifamily/hospitality concept.
• Prior to undergoing a corporate restructuring, Seller had completed predevelopment with key approvals advanced, tax credits approved, and construction commenced
• Included in the Sale is all documentation related to Seller’s planned 44-key boutique hotel: full set of previously approved Construction Drawings, Project Budget, third party studies and contracts, etc.
• Located in a Federal Qualified Opportunity Zone and designated historic by the National Park Service, creating a compelling redevelopment and tax-advantaged investment profile.
• Site qualifies for a host of public financing initiatives and tax credits including but not limited to: State Historic Preservation Tax Credits, Federal Historic Tax Credits, State Qualified Opportunity Zone Tax Credits, PILOT program, and Port Authority Sales Tax Exemption.
• Premier downtown location near The Banks, Duke Energy Convention Center, Fountain Square, Great American Ball Park, Paycor Stadium, and Cincinnati’s CBD, supporting hospitality, multifamily, and mixed-use demand.

Description:

Ri Marketplace Online Auction May 4th-6th, 2026
Register to bid on Marketplace:

https://rimarketplace.com/auction/3119/multifamily/cincinnati/oh?utm_source=connectcre&utm_medium=listing&utm_campaign=external&utm_content=multifamily_3119


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.


The platform fee for this transaction is the greater of 5.00% or a minimum of $20,000.

Documents: