Cecil & Lime Restaurant + Mixed-Use Med off. 227 E Cecil St 6,600 SF Retail Building Springfield, OH 45503 $1,496,352 CAD ($226.72 CAD/SF)

A rare opportunity to acquire one of Springfield’s most recognizable dining destinations together with an adjacent income-producing property, offered as a premier hospitality and real estate investment package. This offering includes the restaurant property known as Cecil and Lime, widely regarded as one of the most upscale dining experiences in Springfield and the Miami Valley, along with the neighboring mixed-use building at 914 N. Fountain Avenue. Together, these two properties create a unique acquisition opportunity for a restaurant group, hospitality operator, or investor looking to establish a flagship presence in a growing regional market.
Cecil and Lime has long been a staple in the Springfield community, known for its refined dining atmosphere, loyal customer base, and strong reputation for quality. The restaurant has undergone significant improvements in recent years, including a newer roof, remodeled interior spaces, upgraded bar area, new flooring, fresh paint, and updates to several of the building’s mechanical systems. A large outdoor deck and patio area was also added, creating one of the largest and most attractive patio dining environments in Clark County, making the space ideal for outdoor dining, private events, weddings, and seasonal gatherings.
For the right buyer, the opportunity exists to acquire the property in a largely turnkey format, with the potential for furniture, fixtures, equipment, décor, inventory, and even the liquor license to remain as part of the transaction. This allows a new owner to step into a fully built-out hospitality space and begin operations with minimal downtime or startup costs.
The package also includes 914 N. Fountain Avenue, a substantial mixed-use building that provides both immediate income potential and operational flexibility. The main floor features approximately eight professional office suites, while the upper level includes a spacious three-bedroom apartment accessible by elevator. A full walkout basement includes a break room and full bathroom, offering additional usable space for storage, support functions, or future buildout.
Beyond the property itself, Springfield offers compelling fundamentals for investors and operators considering expansion. Located in southwestern Ohio approximately 45 miles west of Columbus and 25 miles northeast of Dayton, Springfield sits within easy reach of several major metropolitan markets and benefits from strong regional transportation connectivity. Springfield is positioned within driving distance of major interstates and logistics corridors, allowing convenient access for visitors and residents from throughout the region.
The city has experienced renewed investment in recent years, particularly in its downtown district, with projects focused on residential redevelopment, new entertainment venues, healthcare expansion, and business growth. Local leadership continues to promote economic development and recruit new businesses while supporting entrepreneurs and small businesses across the community.
Springfield’s economy is supported by a diverse employment base including manufacturing, healthcare, transportation, education, and retail, with more than 59,000 people employed across the regional workforce. Major employers and new industrial investment in the region continue to bring jobs and population activity to the area, strengthening the local customer base.
Housing demand in the region has also been increasing, with median home values rising significantly in recent years as new residents and workers continue to move into the community. This growth contributes to a stable residential base that supports local dining, retail, and service businesses.
The property is also located just minutes from Wittenberg University, a respected private university that brings students, faculty, visiting families, and events into the local economy throughout the year. The university plays a key role in workforce development, cultural programming, and community partnerships that support the broader economic vitality of Springfield.
Additionally, the restaurant benefits from close proximity to Springfield’s revitalized downtown district, which has seen continued reinvestment and growing interest from businesses, residents, and visitors alike. The combination of downtown activity, university presence, and regional accessibility creates a steady flow of potential customers for restaurants, hospitality businesses, and entertainment venues.
For an out-of-town restaurant group, chef-owner, or hospitality investor, this offering represents a rare opportunity to acquire a well-known restaurant location with a strong local reputation while also gaining a valuable adjacent property capable of generating additional income or operational support. Opportunities to acquire an established hospitality destination together with adjacent real estate in a strategic corridor are extremely rare, making this a truly unique investment in the Springfield market.