5456 Kings Center Drive, Mason, OH

Retail for Sale - $2,256,000 - 5,078 Sq. Ft. on 1.27 acres


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Agent Info

NameBrent Hensley

Property Info

CIMLS #924483
Location5456 Kings Center Drive
Mason OH 45040
Last UpdatedOctober 11th, 2018
TypeRetail
Price$2,256,000
Building5,078 Sq. Ft.
Land1.27 acres
DemographicsView data

Contact


Property Description

The subject property consists of the ownership of improved land (1.275 acres) occupied by a 5,078 square foot Ruby Tuesday restaurant. The property is located on the northeast corner of Kings Center Drive and Kings Center Court. The location is on the northern end to the entrance of the King Island Amusement Park; the largest Amusement/Water Park in the Mid-West attracting approximately 3 million visitors annually. The lease is absolute NNN that expires April 22, 2028 with 4 five year options. 2% annual rent increases.

The Ruby Tuesday location is within close proximity to Interstate 71 on/off ramp at Kings Mills Road. When visitors come from northern parts of Mason/Warren County or from the City of Dayton, to the north, vehicles must exit at Kings Mills Road to enter Kings Island, Soak Water City, and Great Wolf Lodge. Interstate 71 receives 66,600 VPD; with Kings Mills Road at 21,800 VPD and Kings Island Drive at 16,000 VPD. The Ruby Tuesday is surrounded by other retailers and hotels/motels with Comfort Inn directly across the street, Harley Davidson dealership, Taco Bell, Outback Steakhouse, Dairy Queen, Jimmy John' s, Chipotle, Verizon and a Shell gas station.


Financials

10 years remaining plus 4 five year options.

2% annual rent increases. Next increase 4/1/17.

Publically traded company, Ruby Tuesday, Inc. (724 locations) is the lease guarantor.


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