Red Lobster 320 Cincinnati Mills Rd 7,103 SF Retail Building Cincinnati, OH 45240 $5,912,669 CAD ($832.42 CAD/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
$5,912,669 CAD
Price Per SF
$832.42 CAD
Cap Rate
8%
NOI
$473,013 CAD
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’ on Cincinnati Mills Dr
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 591-0028-0287 | Improvements Assessment | $467,786 CAD |
| Land Assessment | $137,430 CAD | Total Assessment | $605,216 CAD |
