Red Lobster 320 Cincinnati Mills Rd

7,103 SF Retail Building Cincinnati, OH 45240 $4,237,500 ($597/SF) 8% Cap Rate

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
The Old Spaghetti Factory
Bob Evans Restaurants
Freddy's Frozen Custard & Steakburgers
Meijer
Bank of America
Fifth Third Bank
First Financial Bank
PNC Bank
Starbucks

PROPERTY TAXES

  • Listing ID: 33881528

  • Date on Market: 11/15/2024

  • Last Updated:

  • Address: 320 Cincinnati Mills Rd, Cincinnati, OH 45240