10808 Montgomery Rd
Cincinnati, OH 45242
NNN Corporate Eddie Merlot’s Steakhouse · Retail Property For Sale

Pegasus Investments is pleased to present an exciting opportunity to acquire a trophy quality single tenant, 100% absolute triple net leased restaurant property occupied by Eddie Merlot’s steakhouse. The property is strategically located within one of Cincinnati’s most affluent communities, providing ideal access to the local neighborhood which boasts impressive average household incomes of $131,000 annually (1-mile). With 11+ years of historic occupancy and seven (7) years of lease term remaining, investors further benefit from the tenant’s proven success at this location which is highlighted by its lease renewal executed in 2012. Offered at an attractive in-place yield of 7.25%, investors will further benefit from an upcoming rent increase which is projected to improve the cap rate to approximately 8.0%. The quality of the real estate is obvious given its location at the I-275 / Montgomery Road ramp as well as its immediate proximity to major regional hospitals and medical centers. The property is surrounded by exciting new developments totaling $360M+, which include medical, retail, apartments and office.