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For sale
Conventional restaurants
OH
Cincinnati
320 Cincinnati Mills Dr

Red Lobster NNN Investment Opportunity

320 Cincinnati Mills Dr, Cincinnati, OH

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For Sale

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NNN leased Red Lobster with corporate guaranty and rent escalations.

Type:RETAIL

Property size:

7,103 SF

Lot size:

1.37 Acres

Price / SF:

$596/SF

HighLights

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).
2% Annual Rent Increases Starting August 1, 2029, throughout the Initial Term and Option Periods.
Densely Populated, Infill Location with Excellent Demographics: Over 155,000 People in a 5‑Mile Radius and Average Household Income Exceeding $81,000.
Located at the entrance to a former mall with plans for a $150MM mixed‑use redevelopment.

We can help!

Listing Contact

Nick Yaldo

Learn more

For Sale

Contact for pricing

NNN leased Red Lobster with corporate guaranty and rent escalations.

Type:RETAIL

Property size:

7,103 SF

Lot size:

1.37 Acres

Price / SF:

$596/SF

Added:: Dec 3, 2024
Days on Market:: 559
Last Refresh:: May 19 at 9:30 pm

Property Features for 320 Cincinnati Mills Dr

General Information

Standard status: Active
Size: 7,103 SF
Lot size: 1.37 Acres
Property subtype: RETAIL

We can help!

Listing Contact

Nick Yaldo

Listing agent Nick Yaldo License #MI 6502378067

Listing office Encore Real Estate Investment Services

Listing date Dec 3, 2024

Source Moodyscre

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Encore Real Estate Investment Services

HighLights

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).
2% Annual Rent Increases Starting August 1, 2029, throughout the Initial Term and Option Periods.
Densely Populated, Infill Location with Excellent Demographics: Over 155,000 People in a 5‑Mile Radius and Average Household Income Exceeding $81,000.
Located at the entrance to a former mall with plans for a $150MM mixed‑use redevelopment.

Overview

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 Restaurant

Suggested Use

Location Insight

Map
Local Demand

City: Cincinnati
County: Clermont
State: Ohio
Longitude: -84.5233
Latitude: 39.3029

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For sale
Conventional restaurants
OH
Cincinnati
320 Cincinnati Mills Dr

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).

320 Cincinnati Mills Dr, Cincinnati, OH

NNN leased Red Lobster with corporate guaranty and rent escalations.

Property Features for 320 Cincinnati Mills Dr

General Information

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Flex Office and Warehouse Facility

Office Building with Private Parking

Office Complex with Triple-Net Tenants

Office/Warehouse Building

Two-Story Retail Building with Dollar General

Turnkey Boat & RV Storage

Oakley Triplex Investment Opportunity

Renovated Quadplex with Mix

Italianate Duplex with Separate Utilities

Brick Mixed-Use Triplex Building

Brick Mixed-Use Triplex Building

Historic Italianate Apartment Building

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