320 Cincinnati Mills Dr Cincinnati, OH 45240
NNN leased Red Lobster with corporate guaranty and rent escalations.
Property size:
7,103 SFLot size:
1.37 AcresProperty Features for 320 Cincinnati Mills Dr
General Information
- Size
- 7,103 SF
- Lot size
- 1.37 Acres
Source:
Moodyscre
Listing Agent: Nick Yaldo
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Red Lobster NNN Investment Opportunity
This property features a Red Lobster with a 15+ year absolute NNN lease, offering stable cash flow and zero landlord responsibilities. The lease includes four 5-year options to renew. The tenant provides a corporate guaranty (Red Lobster Intermediate Holdings LLC - 640+ Units). Rent increases by 2% annually starting August 1, 2029, throughout the initial term and option periods. The property benefits from high traffic and visibility on Gilmore Ave with over 33,266 vehicles per day, and is adjacent to on/off ramps to Interstate 275, visible to over 120,000 vehicles per day. Red Lobster is now under new ownership by Fortress Investment Group. The location is densely populated with excellent demographics, with over 155,000 people in a 5-mile radius and an average household income exceeding $81,000. Food and alcohol spending exceeded $487,696,208 in 2023 within a 5-mile radius. It is located 1.3 miles from Mercy Health Fairfield Hospital, a 211-bed facility, at the entrance to the former Cincinnati Mall, which has plans for a $150MM mixed-use redevelopment. The property is situated in a dense retail corridor with major national brands including Meijer, Chick-Fil-A, Bob Evans, Dunkin', Chipotle Mexican Grill, McDonald's, Tire Discounters, The Home Depot, Kroger, and Carmax. The property size is 7,103 square feet.
Location Intelligence
Current Use by Public Records
Red Lobster
Seafood Restaurant
Location Insight
- Map
- Local Demand
- City
- Cincinnati
- County
- Clermont
- State
- Ohio
- Longitude
- -84.5232577
- Latitude
- 39.3028745
Nearby Similar for Sale
FAQs
What type of property is this?
Conventional restaurant - NNN leased Red Lobster with corporate guaranty and rent escalations.
Where is this conventional restaurant located?
The property is located at 320 Cincinnati Mills Dr Cincinnati, OH.
What is the asking price?
The asking price for this property is $4,237,500.
What are key features of this property?
This property features: - Absolute NNN Lease with Zero Landlord Responsibilities and Four (5-Year) Options To Renew, providing stable cash flow.; - Corporate Guaranty from Red Lobster Intermediate Holdings LLC (640+ Units).; - High Traffic Location & Visibility from Gilmore Ave (33,266+ VPD) and adjacent to I-275 on/off ramps (visible to 120,000+ VPD).