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Restaurant

Red Lobster

6231 Sunrise Blvd, Citrus Heights, CA 95610

Listing Price: $8,662,533

Cap Rate
5.25%
Tenant Name
Red Lobster Intermediate Holdings LLC
Years Remaining On Lease
17.7
Guarantor
Corporate Guarantee
Rentable SF
8,658
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$52.53

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 6231 Sunrise Boulevard, Citrus Heights, CA 95610. The site consists of roughly 8,658 rentable square feet of building space on an estimated 0.92-acre parcel of land. This Red Lobster is subject to a long-term absolute triple-net (NNN) lease, which commenced October 28th, 2015. The current annual rent is $445,865 and is scheduled to increase to $454,783 in August 2022. Rent will increase 2% annually throughout the remainder of the base term and in each of the four (4), five (5)-year tenant renewal options.

Investment Highlights

  • Long-Term, Absolute Triple-Net (NNN) Lease with Over 18 Years Remaining on the Base Term
  • Corporate Tenant | Corporate Guaranty
  • Attractive Rental Increases of Two Percent (2.00%) Annually

Exclusively Listed By

Broker of Record

  • Jim Markel

    First Vice President/Regional Manager

    (818) 212-2700

    License(s) CA: 01253407

    California

Financing By

Listing Price: $8,662,533

Cap Rate
5.25%
Tenant Name
Red Lobster Intermediate Holdings LLC
Years Remaining On Lease
17.7
Guarantor
Corporate Guarantee
Rentable SF
8,658
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$52.53

Investment Highlights

  • Long-Term, Absolute Triple-Net (NNN) Lease with Over 18 Years Remaining on the Base Term
  • Corporate Tenant | Corporate Guaranty
  • Attractive Rental Increases of Two Percent (2.00%) Annually

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 6231 Sunrise Boulevard, Citrus Heights, CA 95610. The site consists of roughly 8,658 rentable square feet of building space on an estimated 0.92-acre parcel of land. This Red Lobster is subject to a long-term absolute triple-net (NNN) lease, which commenced October 28th, 2015. The current annual rent is $445,865 and is scheduled to increase to $454,783 in August 2022. Rent will increase 2% annually throughout the remainder of the base term and in each of the four (4), five (5)-year tenant renewal options.

Exclusively Listed By

Broker of Record

  • Jim Markel

    First Vice President/Regional Manager

    (818) 212-2700

    License(s): CA: 01253407

    California

Financing By

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