In The News

Greater Cincinnati restaurant property sells for $2.1M

May 6, 2019  |  Milanos
Former Milano's
Former Milano's

Cincinnati Business Courier


A Greater Cincinnati property housing three restaurants within the last decade has been sold.


The restaurant property at 7701 Voice of America Centre Drive in West Chester Township was recently sold for $2.1 million, according to Butler County property records. The 7,178-square-foot building was most recently home to Milano's Pizza, Subs & Taps, which closed the location last year.


The buyer is listed as RLG Flag City LLC and lists a mailing address in Miami Township in Montgomery County. That address is shared by RG Properties, a privately held real estate investment, development and asset management firm.


RG Properties Executive Vice President Paul Miller said the plans for the property have yet to be determined,


Miller said RG Properties will examine potential tenants for the space over the next year. Paul Howe of Bellbrook-based Paul Howe Realty will help RG Properties to lease the space, Miller said.


He said renovations to the building will likely be necessary, especially if RG Properties decides to split the property into two tenant spaces. Renovation costs will be determined once plans for the building have been solidified.


"At a little over 7,000 square feet, the building is probably a little large for a restaurant," Miller said. "We're entertaining the possibility of splitting it, with half of it as a restaurant and half as retail space. But if someone comes along and is interested in the whole space, that's great."


"For another restaurant, there would be an immediate advantage because of its existing infrastructure," he added.


According to its website, RG Properties has developed more than 10 million square feet of commercial real estate in Ohio, Michigan, Indiana and Kentucky.


The property was built in 2003 and has previously housed a Marlin & Ray's seafood eatery as well as a Ruby Tuesday location.


The property sits near the intersection of Cox and Tylersville roads in a busy commercial corridor in West Chester near the Liberty Center development and Interstate 75. The property is neighbored by several other restaurants, including Bonefish Grill, Chick-fil-A, and Soho Japanese Bistro.