866 Eastgate DrCincinnati, OH 45245

Property Details for 866 Eastgate Dr

Year built

1997

Construction

CONCRETE BLOCKS

Lot size

1.58 AC

Property size (Sq ft)

11,440 SF

Property type

Other commercial real estate

APN

41-31-05C-241

APU

413105C241

Description

This exceptional investment opportunity presents a 4,936 square foot, Class A, Outback Steakhouse restaurant located at 866 Eastgate N Dr, Cincinnati, OH 45245. The property sits on a 1.58-acre lot and boasts a 14.5-year remaining lease term (expiring 05/31/2039) with a corporate guarantee from Bloomin' Brands (NASDAQ: BLMN). The lease is a triple-net (NNN) structure, with a current annual net operating income (NOI) of $160,000, resulting in a compelling 5.65% cap rate. Built in 2024, this state-of-the-art restaurant benefits from 10% rent bumps every five years throughout the initial term and options. The property enjoys exceptional visibility and accessibility, situated along a major retail corridor with daily traffic counts exceeding 55,000 vehicles. Its strategic location provides direct access to Interstate-275 (67,000+ vehicles per day), connecting downtown Cincinnati and surrounding suburbs. The area is densely populated and affluent, with an average household income over $100,000 and more than 106,000 residents within a five-mile radius. The property benefits from strong tenant synergy, being near numerous national retailers including Meijer, Kroger, Walmart, and many others, as well as several large apartment complexes. This prime location offers a strong daytime employment base and convenient access for travelers due to its proximity to a Hampton Inn. The asking price is $2,831,858.

• Alternative Use

  Use

  Valuation

  Residential

  $1,746,956

  Hospitality

  $1,600,202

  Educational

  $1,331,349

  Medical

  $1,377,137

  Retail

  $2,070,988

Location Insight

City

Cincinnati

County

Clermont

State

Ohio

Latitude

39.0975

Longitude

-84.2671

CBSA code

17140

CBSA name

CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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