320 Cincinnati Mills DrForest Park, OH 45240

Property Details for 320 Cincinnati Mills Dr

Year built

2014

Lot size

1.37 AC

Property size (Sq ft)

7,103 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a 7,103 square foot Red Lobster restaurant in Forest Park, Ohio, operating under an absolute NNN lease with 15.3 years remaining until the initial term expires. The lease commenced July 1, 2014, and features four five-year renewal options. Built in 2014, this single-building property sits on a 1.37-acre lot and boasts a strong 8.00% cap rate with a current NOI of $339,000. The asking price is $4,237,500, translating to $596.58 per square foot. The property enjoys 100% occupancy and benefits from annual rent bumps of 2% starting August 1, 2029. Its prime location on Cincinnati Mills Drive provides exceptional visibility and accessibility, adjacent to I-275, a major thoroughfare with over 120,000 vehicles per day. The surrounding area demonstrates strong demographics, with over 155,000 people within a five-mile radius and an average household income exceeding $81,000. Annual food and alcohol spending within a five-mile radius surpassed $487,696,208 in 2023. The property's proximity to Mercy Health Fairfield Hospital and its location at the entrance to a planned $150 million mixed-use redevelopment further enhance its long-term value. This is a stable, cash-flow-generating asset with minimal landlord responsibilities, making it an attractive investment for discerning buyers.

Location Insight

City

Forest Park

County

Hamilton

State

Ohio

Latitude

39.303

Longitude

-84.5223

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