7530 Foster Ln - Restaurant FOR SALE


West Chester, OH 45069
$3,083,000 USD
216-264-2000
7530 Foster Ln, West Chester, OH for Sale
$3,083,000 USD
Restaurant - FOR SALE
1/7
null | 6% Cap Rate

7530 Foster Ln
West Chester, OH 45069


OVERVIEW

• Outback Steakhouse | Brand-New Construction with Aug. 2024 Opening | Cincinnati MSA (Population Over 2.23m) • 6.72% CAP In Years 6-10 | 7.53% CAP in 1st Option | 8.43% CAP in 2nd Option • Dense & Affluent Demographics | $209,000 AHHI | 56,931 Residents within 3-Miles & 138,494 Residents within 5-Miles • Below Market Rent Relative to Nearby Developments | Long Term Upside & Projected Appreciation | Shack Shake Paying 43% Higher Rent Across Street • Extremely High Foot-Traffic & Performance | Ranked Top 26% In Nation and Top 18% in Ohio per Placer.Ai • Part of Major Lifestyle Center | Over 2.0 Million Square Feet of Retail, Apartments, Office, Dining, Entertainment, and Hotel Options | Upcoming Major Expansions • Corporate Lease | 10-Year Initial Lease | Significant 12% Rent Bumps Every 5-Years | Hedge Against Inflation • True Irreplaceable Real Estate | Directly Sees 32,290 Vehicles Per Day | Off-Highway Location Seeing Over 136,575 Vehicles Per Day • Extremely Meticulous Site Selection | First Outback Location Serving the North-Central Cincinnati MSA | All Outback Sites in Cinci-MSA Are in Ranked Top 30% For Foot-Traffic per Placer.Ai • Outback | One of the Leading Casual Dining Chains with Over 1,320 Locations | Flagship Brand for Bloomin Brands | Publicly Traded (Ticker Symbol: BLMN) | Annual Revenue Exceeding $4.4b • Rare Ground Lease Structure | Significant Capital Allocated by Tenant Towards Construction | Zero Landlord Responsibilities • Other Major Points of Attraction Nearby Include Costco, Target, Upcoming Whole Foods Development, Upcoming Kroger Marketplace, Meijer, Lowe’s, Dillard’s, Floor & Decor, Home Depot, Planet Fitness, Cincinnati Children’s Hospital, UC Health West Hospital, Christ Medical Hospital, The Learning Experience, and prominent QSR/small shops such as Chick-Fil-A, Shack Shake, Starbucks, Verizon, Raising Cane’s, Freddy’s, and McDonalds • Part of the Cincinnati MSA | Ranked 30th in United States | Total Population Count of Over 2.32M

FOR SALE DETAILS

PRICE

$3,083,000 USD

PRICE/SF

$582 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Outback Steakhouse

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.91 AC

LAND SF

83,283 SF

ZONING

-

APN/PARCEL ID

M5620-461-000-033

ASK ABOUT THIS PROPERTY

Scott WilesMarcus & MillichapMore Info
216-264-2000

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

Scott WilesMarcus & MillichapMore Info
216-264-2000

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