Cincinnati, OH - Buffalo Wild Wings

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in a NNN, freestanding, corporate signed, Buffalo Wild Wings investment property located in Cincinnati, Ohio. The tenant, Blazin Wings Inc., has operated this location for over 30 years and recently extended their lease for an additional 10 years with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rental increase at the beginning of year 6 and at the beginning of each option period, growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal investment opportunity for a passive investor. Buffalo Wild Wings is an outparcel to the highly trafficked, grocery-anchored Harpers Station Shopping Center, which draws over 2.9 million visitors per year (per Placer.ai). This location reported strong sales of $4.06 million ($496 PSF) in 2023, which is above the chain’s national average of $3.19 million, and 9.5% YoY sales growth over the past two years.

The Buffalo Wild Wings is located along Montgomery Road (32,000 VPD), a major retail thoroughfare serving the Cincinnati MSA. The property is positioned near the signalized, hard corner intersection of Montgomery and E. Kemper with a combined 49,500 VPD. The asset benefits from being conveniently located near the on/off ramp to Interstate 71 (123,100 VPD) and Interstate 275 (127,400). The Buffalo Wild Wings is an outparcel to Harper’s Station, a highly trafficked neighborhood center that serves over 2.1M visitors per year (per Placer.ai), which features national/credit tenants including TJ Maxx, LA Fitness, Chili’s, and Bank of America. The asset is adjacent to the Shops at Harper’s Point, a 170,000 square foot Kroger grocery anchored center. The property is in a dense retail corridor with other nearby national/credit tenants including Costco, Target, Lowe’s, The Home Depot, Best Buy, Planet Fitness, Raising Canes, Chick-Fil-A, Chipotle, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. The 5-mile trade area is supported by more than 145,000 residents and 123,000 daytime employees with an affluent average household income of $151,321.