| Marcus & Millichap is pleased to bring to market this bd's Mongolian BBQ ground lease located in Mason, Ohio. Mason is just 20 miles northeast of downtown Cincinnati and easily accessible from I-71. The subject property is a 10-year ground lease being offered at a 6.25% cap rate with 12 percent rental increases every five years. The lease commenced in July of 2007 and expires at the end of November, 2017. There are four, five-year options for renewal. The absolute-net structure lease offers an incoming investor a management free opportunity, making this a true "mailbox paycheck" deal. This deal's value is also realized by the 2.25 acres in which Mongolian BBQ sits, as similar undeveloped plots can trade for $800,000 per acre in today's market. The population within the immediate vicinity continues to experience growth, with current density of over 147,000 people within a five mile radius. The property sits in one of the more affluent retail arteries of Cincinnati, boasting a median household income of $98,485 for homes within a one mile radius of the site. bd's Mongolian BBQ has recently welcomed new corporate ownership, with plans to capitalize on growth opportunities and expand on its already strong brand. This interactive restaurant chain takes full advantage of its underdeveloped market segment by offering patrons a unique casual dining experience, which involves a create-your-own stir-fry concept. The unique atmosphere offered by the product is what sets it apart, drawing in a diverse customer base who enjoy the ability to customize their dining experience, and enjoy their food's preparation by bd's master grillers. |
