Restaurant
Corp. Outback Steakhouse | Brand New Construction | 15 Year NNN Ground Lease | Affluent Area
866 Eastgate N Drive, Cincinnati, OH 45245
Listing Price: $2,831,858
Investment Overview
Cincinnati is a city in and the county seat of Hamilton County, Ohio. The population of Cincinnati was 309,317 in 2020, making it the third-most populous city in Ohio after Columbus and Cleveland, and 65th in the United States. The city is the economic and cultural hub of the Cincinnati metropolitan area, Ohio’s most populous metro area and the nation’s 30th-largest with over 2.265 million residents. Cincinnati has the twenty-eighth largest economy in the United States and the fifth largest in the Midwest, home to several Fortune 500 companies including Kroger, Procter & Gamble, and Fifth Third Bank. It is home to three professional sports teams: the Cincinnati Reds of Major League Baseball; the Cincinnati Bengals of the National Football League; and FC Cincinnati of Major League Soccer; it is also home to the Cincinnati Cyclones, a minor league ice hockey team. The city’s largest institution of higher education, the University of Cincinnati, was founded in 1819 as a municipal college and is now ranked as one of the 50 largest in the United States. The Sixth Circuit Court of Appeals is based in the city. Cincinnati is the birthplace of William Howard Taft, the 27th President and 10th Chief Justice of the United States. Recently, Cincinnati has been named among the 100 most livable cities in the world, at number 88, and is on many Best Places to Live lists, including Livability.com and U.S. News & World Report. Forbes ranked Cincinnati as the 5th best city for young professionals in 2023.
Corp. Outback Steakhouse | Brand New Construction | 15 Year NNN Ground Lease | Affluent Area
Investment Highlights
- 15 Year NNN Ground Lease Features 10% Rental Increases Every 5 Years Throughout the Initial Term and Options. Recently opened in May 2024, features State-of-the-Art Designs.
- Positioned Along Area's Retail & Traffic Corridor: Features Easy Access & Excellent Visibility w/ Multiple Points of Ingress/Egress. Adjacent to State Hwy-32, w/ Daily Traffic Counts of 55k+ Vehicles.
- This Site benefits from Direct Access onto Interstate-275 (67k+ VPD), a Major Beltway Providing Direct Access into Downtown Cincinnati and Connecting the Surrounding Suburbs.
- The Lease is signed by Outback Steakhouse of Florida, LLC, a subsidiary of Bloomin' Brands (NASDAQ: BLMN). Outback Steakhouse is among the Leading Casual Dining Restaurants with over 1,000 locations in 23 countries.
- Ideally Situated within a Dense Retail Corridor - Directly beside 32 East (189K+ SF), Eastgate Pavilion (242K+ SF), Eastgate Mall (922K+ SF), and other Shopping Centers. Shadow Anchored by Meijer and fronts a Hampton Inn, providing a Convenient Dining option for Travelers.
- Densely Populated and Affluent Area: Features an Average Household Income of more than $100k and more than 106k People Residing within a 5-Mile Radius.
- Near Numerous National Retailers including Kroger, Walmart Supercenter, Sam's Club, ALDI, Kohl's, Dillard's, Dick's Sporting Goods, Best Buy, Big Lots, Grocery Outlet, PetSmart, Michaels, HomeGoods and many more.
- Surrounded by Single-Family Communities and Multi-Family Complexes, providing a direct Residential Consumer Base - Kennedy's Landing (112 Units), Timber Glen (180 Units), Echelon Luxury Apartments (187 Units) and more. Strong Daytime Employment Area - Large Base of Employees w/in Walking Distance or a Short Drive. Strong Tenant Synergy Significantly increases the Consumer Draw to the Immediate Trade Area and promotes Crossover Store Exposure for the Site.
Exclusively Listed By
Broker of Record
-
Michael L. Glass
Senior Vice President / Division Manager
Financing By
Restaurant
Corp. Outback Steakhouse | Brand New Construction | 15 Year NNN Ground Lease | Affluent Area
Listing Price: $2,831,858
Investment Highlights
- 15 Year NNN Ground Lease Features 10% Rental Increases Every 5 Years Throughout the Initial Term and Options. Recently opened in May 2024, features State-of-the-Art Designs.
- Positioned Along Area's Retail & Traffic Corridor: Features Easy Access & Excellent Visibility w/ Multiple Points of Ingress/Egress. Adjacent to State Hwy-32, w/ Daily Traffic Counts of 55k+ Vehicles.
- This Site benefits from Direct Access onto Interstate-275 (67k+ VPD), a Major Beltway Providing Direct Access into Downtown Cincinnati and Connecting the Surrounding Suburbs.
- The Lease is signed by Outback Steakhouse of Florida, LLC, a subsidiary of Bloomin' Brands (NASDAQ: BLMN). Outback Steakhouse is among the Leading Casual Dining Restaurants with over 1,000 locations in 23 countries.
- Ideally Situated within a Dense Retail Corridor - Directly beside 32 East (189K+ SF), Eastgate Pavilion (242K+ SF), Eastgate Mall (922K+ SF), and other Shopping Centers. Shadow Anchored by Meijer and fronts a Hampton Inn, providing a Convenient Dining option for Travelers.
- Densely Populated and Affluent Area: Features an Average Household Income of more than $100k and more than 106k People Residing within a 5-Mile Radius.
- Near Numerous National Retailers including Kroger, Walmart Supercenter, Sam's Club, ALDI, Kohl's, Dillard's, Dick's Sporting Goods, Best Buy, Big Lots, Grocery Outlet, PetSmart, Michaels, HomeGoods and many more.
- Surrounded by Single-Family Communities and Multi-Family Complexes, providing a direct Residential Consumer Base - Kennedy's Landing (112 Units), Timber Glen (180 Units), Echelon Luxury Apartments (187 Units) and more. Strong Daytime Employment Area - Large Base of Employees w/in Walking Distance or a Short Drive. Strong Tenant Synergy Significantly increases the Consumer Draw to the Immediate Trade Area and promotes Crossover Store Exposure for the Site.
Investment Overview
Cincinnati is a city in and the county seat of Hamilton County, Ohio. The population of Cincinnati was 309,317 in 2020, making it the third-most populous city in Ohio after Columbus and Cleveland, and 65th in the United States. The city is the economic and cultural hub of the Cincinnati metropolitan area, Ohio’s most populous metro area and the nation’s 30th-largest with over 2.265 million residents. Cincinnati has the twenty-eighth largest economy in the United States and the fifth largest in the Midwest, home to several Fortune 500 companies including Kroger, Procter & Gamble, and Fifth Third Bank. It is home to three professional sports teams: the Cincinnati Reds of Major League Baseball; the Cincinnati Bengals of the National Football League; and FC Cincinnati of Major League Soccer; it is also home to the Cincinnati Cyclones, a minor league ice hockey team. The city’s largest institution of higher education, the University of Cincinnati, was founded in 1819 as a municipal college and is now ranked as one of the 50 largest in the United States. The Sixth Circuit Court of Appeals is based in the city. Cincinnati is the birthplace of William Howard Taft, the 27th President and 10th Chief Justice of the United States. Recently, Cincinnati has been named among the 100 most livable cities in the world, at number 88, and is on many Best Places to Live lists, including Livability.com and U.S. News & World Report. Forbes ranked Cincinnati as the 5th best city for young professionals in 2023.
Exclusively Listed By
Broker of Record
-
Michael L. Glass
Senior Vice President / Division Manager
Financing By
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