Property Details for 7530 Foster Ln

Year built

2024

Lot size

1.46 lot acres

Property size

5,300 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 5,300 square foot Outback Steakhouse located at 7530 Foster Ln, West Chester, OH 45069. The property sits on a 1.46-acre lot and is part of a major lifestyle center exceeding 2 million square feet, encompassing retail, apartments, office space, dining, entertainment, and hotel options. This Class A property boasts a 10-year absolute NNN lease commencing August 14, 2024, and expiring August 14, 2034, with a credit-rated corporate guarantee from Outback Steakhouse, a leading casual dining chain with over 1,320 locations. The lease includes significant rent bumps of 12% every five years, providing a hedge against inflation. The property benefits from a high-traffic location, seeing over 32,290 vehicles daily directly and over 136,575 vehicles daily off-highway. The surrounding area is densely populated and affluent, with 56,931 residents within 3 miles and 138,494 residents within 5 miles, boasting an average household income of $209,000. Nearby amenities include Costco, Target, Home Depot, Kroger, Meijer, Lowe's, Dillard's, Cabela's, Planet Fitness, and several other prominent QSRs and shops. This is a rare ground lease structure with zero landlord responsibilities and significant capital allocated by the tenant towards construction. The property is situated within the Cincinnati MSA, ranked 30th in the United States, with a population exceeding 2.32 million. This is a truly irreplaceable piece of real estate offering long-term upside and projected appreciation. The asking price is $3,525,000.

Location Insight

City

Wetherington

County

Butler

State

Ohio

Longitude

-84.3754

Latitude

39.3689