3720 Stone Creek Blvd - Restaurant FOR SALE


Cincinnati, OH 45251- Northgate
$1,615,000 USD
502-442-7074
3720 Stone Creek Blvd, Cincinnati, OH for Sale
$1,615,000 USD
Restaurant - FOR SALE
1/9
null | 6.5% Cap Rate

3720 Stone Creek Blvd
Cincinnati, OH 45251
Northgate


HIGHLIGHTS

  • 3 Years Remaining | Scheduled Rental Increases | Growing & Popular Concept | Established Tenant | Below Market Rent
  • Strong National/Credit Tenants | Interstate 275 (69,100 VPD) | US Highway 27 (46,100 VPD) | Frequently Traveled Retail Corridor
  • Stone Creek Towne Center (546,069 SF) | Colerian Towne Center (409,960 SF) | Northgate Mall (1,1019,118 SF)
  • NN Lease | Leased Fee Ownership | Limited Landlord Responsibilities
  • Strong Demographics in 5-Mile Trade Area

OVERVIEW

SRS National Net Lease Group, LP is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in a NN leased, freestanding, corporate signed Logan’s Roadhouse investment property located in Cincinnati, Ohio. The tenant, Logan’s Roadhouse II, LLC, has 3 years remaining in their initial term with 4 (5-year) options to extend. The lease features a 4.76% increase in September of 2027, steadily growing NOI and hedging against inflation. The lease is NN with landlord responsibilities limited to CAM which is subject to tenant reimbursement; however, reimbursements are capped at 2% on a cumulative basis (the analysis assumes the cap is not being hit). Founded in 2006, Logan’s Roadhouse currently operates 125 company-operated restaurants across 22 states, through a mix of company-operated and franchised locations. Additionally, the tenant pays far below market rent at just $16.15 PSF, providing a low basis for the investor and upside potential in the future.

FOR SALE DETAILS

PRICE

$1,615,000 USD

PRICE/SF

$248 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Logan's Roadhouse

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

107

LAND DETAILS

LAND ACRES

1.75 AC

LAND SF

76,230 SF

ZONING

PD

APN/PARCEL ID

510-0183-0799-00

ASK ABOUT THIS PROPERTY

Morgan ZantSRS National Net LeaseMore Info
502-442-7074

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Morgan ZantSRS National Net LeaseMore Info
502-442-7074

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.