401 Riverboat Row - Restaurant FOR SALE


Newport, KY 41071
$1,600,000 USD
513-763-3022
401 Riverboat Row, Newport, KY for Sale
$1,600,000 USD
Restaurant - FOR SALE
1/6
null | 8.25% Cap Rate

401 Riverboat Row
Newport, KY 41071


OVERVIEW

We are pleased to present the leased fee interest in a premier single-tenant property occupied by Cancun Mexican Bar & Grill, a well-established multi-unit operator with a loyal and growing customer base. Strategically positioned on the banks of the Ohio River in vibrant Newport, KY, this location offers stunning views of downtown Cincinnati and benefits from strong regional traffic and tourism. The tenant is currently paying below-market rent, creating immediate upside potential for investors while enjoying the stability of a proven operator with a track record of success. This offering represents a rare chance to acquire a high-performing asset in a dynamic waterfront setting with long-term value appreciation. ATTRACTIVE LEASE TERMS Below market rent at just $132,000/year “Hands-Off” lease with landlord responsibilities limited to Roof & Structure Being on a ground lease allows for increased accelerated depreciation PREMIER LOCATION Trophy location along the banks of the Ohio River with stunning views of Downtown Cincinnati, Mt. Adams and other Cincinnati landmarks Adjacent to Vue 180 Apartments, SouthShore Condominiums and Fairfield Inn hotel providing a built-in customer base Immediate Access to I-471 (104,074 VPD) Surrounded by destination attractions - Downtown Cincinnati (23.6 MM Annual Visits) - Newport on the Levee (2.8 MM Annual Visits) - The Party Source (554 k Annual Visits) - Hofbräuhaus (243 k Annual Visits) - Megacorp Pavilion (98 k Annual Visits) Ample Parking available along Riverboat Row STRONG OPERATOR Established operator with 8 locations under the Cancun flag with a track record of success Exercised first renewal option in 2025 OUTSTANDING 3-MILE DEMOGRAPHICS Population: 151,857 Average HH Income: $98,632 2025-2030 Proj. Population Growth: 5%

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$195 USD /SF

CAP RATE

8.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Cancun Mexican Bar & Grill

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1996

SPRINKLERS

-

PARKING SPACES

200

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

999-99-32-316.00

ASK ABOUT THIS PROPERTY

Hank DavisCushman & WakefieldMore Info
513-763-3022

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Hank DavisCushman & WakefieldMore Info
513-763-3022

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