Cincinnati, OH - Dunkin' (Hamilton)

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, drive-thru equipped, Dunkin’ investment property located in Cincinnati, Ohio. The tenant recently signed a brand new 15-year lease with 5 (5-year) option periods to extend, demonstrating their commitment to the site. The lease features 1.50% annual rental increases throughout the initial term and options, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 1950, Dunkin’ is among America’s favorite coffee and baked goods chain with over 13,700 operating stores.

The site has excellent visibility near the signalized, hard corner intersection of Hamilton Avenue and W. Galbraith Road (combined 35,500 VPD). Furthermore, the asset benefits from nearby access to multiple points of ingress/egress of State Highway 126 (48,600 VPD) and U.S. Highway 27 (47,500 VPD), a pair of heavily trafficked highways, increasing consumer traffic to the property. Hamilton Avenue is the primary retail thoroughfare serving Northern Cincinnati, featuring national/credit tenants including Kroger, and adjacent retailers McDonald’s, Burger King, Subway, and Shell. Strong tenant synergy throughout the area promotes crossover retail exposure to the subject property. The thoroughfare also connects the site directly to downtown Cincinnati, the third largest city in the state with over 311,000 residents and 2.2 million in its MSA, providing a broad consumer base from which to draw. The tenant has access to a direct consumer base as well, comprised of many single and multi-family communities including the nearby North Creek Apartments (145 units) and the North College Hill High School. The 5-mile trade area is supported by a population of over 210,900 residents and 76,900 employees with an average household income of $85,338.