Restaurant
Hooters | Corporate Operator & Guaranty | 15 Years Remaining
9890 Escort Dr, Mason, OH 45040
Listing Price: $2,675,000
Cap Rate
6.25%
Tenant Name
Hooters
Years Remaining On Lease
14.9
Gross SF
5,511
Guarantor
Corporate Guarantee
Rentable SF
5,511
Price/Gross SF
$485.39
Lease Type
Absolute Net
Rent Per Square Feet
$30.34
Investment Overview
Marcus & Millichap is pleased to exclusively present for sale, Hooters located in Mason, Ohio. The subject property currently has a corporate triple-net lease with over 15 years remaining. Hooters is being offered for $2,675,000.
Hooters | Corporate Operator & Guaranty | 15 Years Remaining
Investment Highlights
- Hooters Corporate Absolute Triple-Net Lease with Over 15 Years Remaining in Mason, Ohio (Cincinnati MSA)
- Extremely Busy Highway Exit Location: I-71 Exit at Mason Montgomery Road; I-71 Sees 118,590 Vehicles per Day
- Full Corporate Guaranty from HOA HOLDCO, LLC; Corporately-Operated Restaurant
- True Passive Absolute Triple-Net Lease Structure with Zero Landlord Responsibilities
- 10 Percent Rent Increases in Current Term and Options
- Extensive Exterior and Interior Renovations Completed in 2018 at a Cost of $1.35 Million, Including Over $1 Million Invested by Tenant
- Located Amongst a Dense Commercial Corridor with Four and a Half Million Square Feet of Retail Leased to 96 Percent Occupancy; Within Immediate Proximity to 13 Hotels
- Highly Affluent Demographics: $128-130,000 Average Household Income in One, Three and Five Mile Radius Rings
Restaurant
Hooters | Corporate Operator & Guaranty | 15 Years Remaining
Listing Price: $2,675,000
Cap Rate
6.25%
Tenant Name
Hooters
Years Remaining On Lease
14.9
Gross SF
5,511
Guarantor
Corporate Guarantee
Rentable SF
5,511
Price/Gross SF
$485.39
Lease Type
Absolute Net
Rent Per Square Feet
$30.34
Investment Highlights
- Hooters Corporate Absolute Triple-Net Lease with Over 15 Years Remaining in Mason, Ohio (Cincinnati MSA)
- Extremely Busy Highway Exit Location: I-71 Exit at Mason Montgomery Road; I-71 Sees 118,590 Vehicles per Day
- Full Corporate Guaranty from HOA HOLDCO, LLC; Corporately-Operated Restaurant
- True Passive Absolute Triple-Net Lease Structure with Zero Landlord Responsibilities
- 10 Percent Rent Increases in Current Term and Options
- Extensive Exterior and Interior Renovations Completed in 2018 at a Cost of $1.35 Million, Including Over $1 Million Invested by Tenant
- Located Amongst a Dense Commercial Corridor with Four and a Half Million Square Feet of Retail Leased to 96 Percent Occupancy; Within Immediate Proximity to 13 Hotels
- Highly Affluent Demographics: $128-130,000 Average Household Income in One, Three and Five Mile Radius Rings
Investment Overview
Marcus & Millichap is pleased to exclusively present for sale, Hooters located in Mason, Ohio. The subject property currently has a corporate triple-net lease with over 15 years remaining. Hooters is being offered for $2,675,000.
