405 Riverboat Row - Restaurant FOR SALE


Newport, KY 41071
$1,285,000 USD
513-763-3022
405 Riverboat Row, Newport, KY for Sale
$1,285,000 USD
Restaurant - FOR SALE
1/9
null | 7% Cap Rate

405 Riverboat Row
Newport, KY 41071


OVERVIEW

Cushman & Wakefield is pleased to present the opportunity to purchase a leased fee interest in a premier waterfront property occupied by Chart House, a Landry’s, Inc. owned, fine-dining restaurant. Located on the banks of the Ohio River in Newport, Kentucky, with sweeping views of downtown Cincinnati, this trophy asset combines exceptional location with long-term stability from a nationally recognized brand. With twenty years of operating history at the location, Chart House recently renewed its lease for an additional ten years, underscoring their commitment to this irreplaceable site. The property offers investors a rare opportunity to acquire a secure income stream at a rent significantly below current market rates in an irreplaceable location. ATTRACTIVE LEASE TERMS • Recently renewed through April 2036 • Significantly below market rent at just $90,000/year • “Hands-Off” lease with landlord responsibilities limited to structural components of the building • 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) STRONG NATIONAL BRAND • 22 Chart House locations Nationally • Under the Landry’s, Inc. umbrella of companies, Landry’s owns and operates over 600 restaurants, hotels, casinos and other entertainment destinations globally. • Over 46 years track record of success OUTSTANDING DEMOGRAPHICS • 3-Mile Radius - Population: 151,857 - Average HH Income: $98,632 - 2025-2030 Proj. Population Growth: 5%

FOR SALE DETAILS

PRICE

$1,285,000 USD

PRICE/SF

$111 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Chart House

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1996

SPRINKLERS

-

PARKING SPACES

125

LAND DETAILS

LAND ACRES

2.48 AC

LAND SF

108,029 SF

ZONING

-

APN/PARCEL ID

999-99-35-291.00

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.