Red Lobster 320 Cincinnati Mills Rd
7,103 SF Retail Building Cincinnati, OH 45240 $4,237,500 ($597/SF) 8% Cap Rate
![320 Cincinnati Mills Rd, Cincinnati, OH for sale - Building Photo - Image 1 of 11](https://images1.loopnet.com/i2/FxPhlVD3DyLB21k5TNJzZM_i6Zitrq24JrFpyKE7wQM/110/320-Cincinnati-Mills-Rd-Cincinnati-OH-Building-Photo-1-Large.jpg)
![320 Cincinnati Mills Rd, Cincinnati, OH for sale - Primary Photo - Image 2 of 11](https://images1.loopnet.com/i2/mzWD5RJD71_tzteuIksy5aIXZz0UvpKhwheaMQZz85U/110/320-Cincinnati-Mills-Rd-Cincinnati-OH-Primary-Photo-2-Large.jpg)
![320 Cincinnati Mills Rd, Cincinnati, OH for sale - Building Photo - Image 3 of 11](https://images1.loopnet.com/i2/1nmQN249BmQYndhyQ_--ii_EssdW711rfq8ESGACrxw/110/320-Cincinnati-Mills-Rd-Cincinnati-OH-Building-Photo-3-Large.jpg)
INVESTMENT HIGHLIGHTS
- 15+ Year Absolute NNN Lease – Stable Cash Flow Asset–Zero Landlord Responsibilities – Four (5-Year) Options To Renew
- 2% Annual Rent Increases Starting August 1, 2029 Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation
- Adjacent to On/Off Ramps to Interstate 275 - Visible to over 120,000 VPD+ | Ideal Visibility and Easy Access from Major Interstate
- Corporate Guaranty (Red Lobster Intermediate Holdings LLC - 540+ Units)
- High Volume Traffic Location & Visibility From Gilmore Ave With Over 33,266 VPD+
- Red Lobster Is Now Under New Ownership By Fortress Investment Group Which Has Closed Over 150 Poor Performing Locations
EXECUTIVE SUMMARY
ABSOLUTE NET LEASE | 15+ YEARS REMAINING | ADJACENT TO I-275 (120,000 VPD+)
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,103 SF
Building Class
C
Year Built
2007
Price
$4,237,500
Price Per SF
$597
Cap Rate
8%
NOI
$339,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
1.37 AC
Zoning
Commercial
Parking
80 Spaces (9.66 Spaces per 1,000 SF Leased)
Frontage
142 FT on Cincinnati Mills Dr
NEARBY MAJOR RETAILERS
![Red Lobster Red Lobster](https://images1.loopnet.com/i2/a2Lvfgap8GBTgmVQVIc8tFEhwAwCzrowSpamppC_Mcw/105/image.png)
![The Old Spaghetti Factory The Old Spaghetti Factory](https://images1.loopnet.com/i2/s3MIj-Ahnw9ASc2ZGifq8linP4kAs6-zK7XB9_myZ2g/105/image.jpg)
![Bob Evans Restaurants Bob Evans Restaurants](https://images1.loopnet.com/i2/a83YSUL2yEvL7EoNuqf-vDsm3EsbvgHl7FcAhzeEKi8/105/image.jpg)
![Freddy's Frozen Custard & Steakburgers Freddy's Frozen Custard & Steakburgers](https://images1.loopnet.com/i2/s3JCLIs5ZBomIlzZ41HkwLEmtVeDpPE8spL1ZLXaVEM/105/image.png)
![Meijer Meijer](https://images1.loopnet.com/i2/qCSRkFVHCDJBIleZuKZCPPYdjGiKzsI-KSD2VNtYk08/105/image.png)
![Bank of America Bank of America](https://images1.loopnet.com/i2/KcPChwyhu4u40ZumnqoCfl2yBMVws3KQSoksOFbvmUs/105/image.png)
![Fifth Third Bank Fifth Third Bank](https://images1.loopnet.com/i2/AL8WiNtqMMLDA-GzqF89Kvw0apCq6BAgZWHPS8AXPQc/105/image.png)
![First Financial Bank First Financial Bank](https://images1.loopnet.com/i2/ZheLtwEKvOAZ3G79XoPmThXglcwgWV0bcM7MceOqpQw/105/image.png)
![PNC Bank PNC Bank](https://images1.loopnet.com/i2/fIhd6---TuxhiSC2zosoHH9m2w06pL87K0W47y_6BA0/105/image.png)
![Starbucks Starbucks](https://images1.loopnet.com/i2/V11gp9X1QvF-sYuRU43vwjphTt976BD4p9n50Z1aR1w/105/image.png)
PROPERTY TAXES
Parcel Number | 591-0028-0287 | Improvements Assessment | $327,306 |
Land Assessment | $96,159 | Total Assessment | $423,465 |