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Restaurant

O'Charley's

5262 Fields Ertel Rd, Cincinnati, OH 45249

Listing Price: $2,000,000

Cap Rate
7.64%
Tenant Name
O'Charley's
Years Remaining On Lease
2.9
Gross SF
6,875
Guarantor
Corporate Guarantee
Rentable SF
6,875
Price/Gross SF
$290.91
Lease Type
Absolute Net
Rent Per Square Feet
$22.21

Investment Overview

Marcus & Millichap is pleased to present the market analysis for the O’Charley’s located at 5262 Fields Ertel Road in Cincinnati, Ohio. The property consists of a 6,875 square-foot building on approximately a 1.5-acre parcel. O’Charley’s has operated at this location since 2003 when they constructed the current building and renovated it in 2016. O’Charley’s has excellent visibility to over 39,000+ vehicles per day and near Interstate-71 with over 97,500+ vehicles per day. O’Charley’s has over three (3)-years on the absolute-net lease with zero responsibilities. The tenant currently pays $152,718 in annual rent. The rent increases annually based off 50% of the year-to-date percent change in CPI with a maximum change of 1.25%. The lease is equipped with four (4), five (5)-year options. The property is located within a 24-minute drive of Downtown Cincinnati. O’Charley’s is located in a dense submarket of Cincinnati which benefits from having a mix of substantial retail centers, an abundance of office complexes and large neighborhoods. Major traffic drivers to the area are: P&G Business Center (2,800+ Employees), Macy’s Call Center (1 of 3 Nationwide), The Western and Southern Open Tennis Tournament (191,700+ annual visitors), Kings Island (3.47 million annual visitors), and more. Strategically located in a high trafficked corridor in Mason with proximity to many national tenants, such as: Walmart, Kroger, Target, Costco, JC Penny, Starbucks, Walgreens, Chick-Fil-A and many more. Overall, the local market consists of over 242,500 residents with an AHHI in excess of $135.100, and over 182,100+ employees within a seven (7)-mile radius of the property.

Investment Highlights

  • Absolute-Net Lease | Three (3)-Years Remaining | Annual Rent Increases | Four (4), Five (5)-Year Options
  • Excellent Visibility to 58,900+ Vehicles Per Day | Near Interstate-71 with 84,800+ Vehicles Per Day
  • Located on the Main Retail Corridor | Proximity to: Walmart, Costco, Chick-Fil-A, Starbucks, and More
  • Located Near Top Employers: P&G Business Center | Macy's Call Center
  • Major Traffic Drivers | The Wester and Southern Open (191,700+ Annual Visitors) | Kings Island (3.47M Annual Visitors)
  • Strong Demographics | 242,500+ Residents | $135,100+ AHHI | 182,100+ Employees | within Seven (7)-Miles

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Listing Price: $2,000,000

Cap Rate
7.64%
Tenant Name
O'Charley's
Years Remaining On Lease
2.9
Gross SF
6,875
Guarantor
Corporate Guarantee
Rentable SF
6,875
Price/Gross SF
$290.91
Lease Type
Absolute Net
Rent Per Square Feet
$22.21

Investment Highlights

  • Absolute-Net Lease | Three (3)-Years Remaining | Annual Rent Increases | Four (4), Five (5)-Year Options
  • Excellent Visibility to 58,900+ Vehicles Per Day | Near Interstate-71 with 84,800+ Vehicles Per Day
  • Located on the Main Retail Corridor | Proximity to: Walmart, Costco, Chick-Fil-A, Starbucks, and More
  • Located Near Top Employers: P&G Business Center | Macy's Call Center
  • Major Traffic Drivers | The Wester and Southern Open (191,700+ Annual Visitors) | Kings Island (3.47M Annual Visitors)
  • Strong Demographics | 242,500+ Residents | $135,100+ AHHI | 182,100+ Employees | within Seven (7)-Miles

Investment Overview

Marcus & Millichap is pleased to present the market analysis for the O’Charley’s located at 5262 Fields Ertel Road in Cincinnati, Ohio. The property consists of a 6,875 square-foot building on approximately a 1.5-acre parcel. O’Charley’s has operated at this location since 2003 when they constructed the current building and renovated it in 2016. O’Charley’s has excellent visibility to over 39,000+ vehicles per day and near Interstate-71 with over 97,500+ vehicles per day. O’Charley’s has over three (3)-years on the absolute-net lease with zero responsibilities. The tenant currently pays $152,718 in annual rent. The rent increases annually based off 50% of the year-to-date percent change in CPI with a maximum change of 1.25%. The lease is equipped with four (4), five (5)-year options. The property is located within a 24-minute drive of Downtown Cincinnati. O’Charley’s is located in a dense submarket of Cincinnati which benefits from having a mix of substantial retail centers, an abundance of office complexes and large neighborhoods. Major traffic drivers to the area are: P&G Business Center (2,800+ Employees), Macy’s Call Center (1 of 3 Nationwide), The Western and Southern Open Tennis Tournament (191,700+ annual visitors), Kings Island (3.47 million annual visitors), and more. Strategically located in a high trafficked corridor in Mason with proximity to many national tenants, such as: Walmart, Kroger, Target, Costco, JC Penny, Starbucks, Walgreens, Chick-Fil-A and many more. Overall, the local market consists of over 242,500 residents with an AHHI in excess of $135.100, and over 182,100+ employees within a seven (7)-mile radius of the property.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

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