The downtown area of Cincinnati is often the most crowded and heavily trafficked part of the city, meaning lots of people with money are coming and going any given day. Investing in commercial real estate possibilities in this section of town gives you a chance to possibly profit off of the abundant spending power present along these blocks. If you’re not sure what specifically to do when the opportunity arises though, keep reading to learn 10 different possibilities that work well in a city center.Read about Where To Find Great Deals On Real Estate In Cincinnati Ohio .
1) Parking lot or deck:
Many people coming into the downtown area might take cabs, an Uber or Lyft, the bus, or mass public transit, but some do drive in. They need places to park, and parking spaces are not in abundance. Putting up a parking deck or paving a lot is a great way to charge per car, per space, either hourly or by the day.
2) A bar or restaurant:
Corporate employees might need lunch, or even breakfast and dinner, to get through their days. Those staying in hotels here might not have any other options, and anyone coming to downtown for a show or sporting event might want to eat before or after the even for cheaper food.
3) Office space:
Many businesses and corporations like having their headquarters or satellite offices all together so everyone has easy access to one another. Downtown office buildings usually are able to accommodate many floors of a single client, although even a smaller office building might house auxiliary or complementary services such as accountants, lawyers, or even document solutions like printing and copying.
4) An entertainment venue:
Even if there are major venues for sports, arts, and concerts for big acts, professional athletic teams, and off-broadway shows, there might be room in the local market for a smaller more intimate setting for local artists trying to make a name for themselves. Big name acts and events aren’t going to fill the calendar, and there’s always a market for budget entertainment, especially if you can cater to niche crowds or markets outside mainstream tastes.
5) A hotel:
Whether it’s business professionals flying in to visit company offices, patrons of the sporting and entertainment events, or even staff and participants of those very shows, they need places to crash the night.
6) A barber shop:
All those coming and going might be so busy they forget to take care of their grooming. Or, they’d love the chance to have a final touch-up before an important meeting, interview, or presentation.
7) A drug or convenience store:
Grocery stores and other general retail outlets common to suburban corners are not in abundance in center city areas, so any chance for people to drop in and pick up snacks, medications, or other essentials is a retail windfall.
8) A spa:
Any chance to relax in luxury can be a goldmine of opportunity for those who work long stressful hours or want some pampering while on the road.
9) A museum:
Many cities have their museums in their downtown areas, and for good reason. They are accessible to travelers from out of town visiting the downtown area, and anyone local can all get there equally easy.
10) A clothing store:
Travelling professionals that find tears or rips in their professional attire might need last minute tailoring work or even a chance to buy new threads.
If you’ve got money to invest or partners to pool resources with and you’re looking for downtown Cincinnati commercial real estate possibilities, consider each of these 10 as options when you find a lot of land or a building available for purchase and use. Read more about cincinnati real estate – cincinnati oh homes for sale .