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Market Report

Cincinnati Retail Market Report

2024 Investment Forecast

Cincinnati Boasts Positive Retail Performance Outside of
Western Areas, Drawing Investors to the Riverfront

Solutions to one key, troubled zone enhance metro’s positive outlook. Retail performance in Cincinnati is highly variable based on location and property type. Submarkets like Butler County, Downtown, Eastern Cincinnati and Northern Kentucky all entered the year with vacancy rates of 3.5 percent or lower, due to a mix of positive demand trends. Butler County retailers benefit from travel routes through to Dayton and Miami University, while Eastern Cincinnati is home to affluent cities like Kenwood. Still, Cincinnati’s overall vacancy will tie for the highest among major metros as Western Cincinnati faces challenges. The area had the highest multi-tenant vacancy among major submarkets nationwide entering 2024. However, several projects are set to eliminate obsolete space, such as the pending redevelopment of the former Forest Fair Mall and the former Saks property at Northgate Mall. This suggests improvement coming to the area, which will better match the rest of the market’s relatively tight conditions.

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