Aungier Street contains a significant number of Georgian buildings, some with features dating from the 1660s and 1670s, the board's planning inspector Patricia Young noted in a report.
No 9 and 9A Aungier Street, a national monument, is one of the most intact structures in the country from the late 1600s.
Objecting to the planning application, heritage group An Taisce said there are already a number of fast-foods on the Aungier Street/South Great George's Street axis.
An Taisce's Kevin Duff pointed out the development plan aims to limit too high a concentration of any one type of outlet in an area.
Aungier Street's historic status has received increasing recognition in recent years.
A recent report highlighted its important sites, from its time as a medieval enclave and later as "one of Dublin's first exclusive residential suburbs".
The report, Aungier Street – Revitalising an Historic Neighbourhood, also called for recognition of the area's literary heritage.
Poet and song writer Thomas Moore (1779-1852) lived at No 12, while gothic novelist Charles Robert Maturin (1782-1824) – a great-uncle of Oscar Wilde – was curate of St Peter's Church and lived on York Street.
A detailed architectural examination revealed a "surprising" number of residential buildings dating from pre-1700.
The street was laid out by Sir Francis Aungier in 1661 to house the wealthy upper class
"No other street in Dublin has such a collection of pre-1700 buildings," the report states, though it warned that much of the surviving fabric is "substantially derelict above ground-floor level".
The first residents of the street were the city's "social elite", but this had changed by the mid-18th century to the merchant and professional classes.