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Restaurant

Red Lobster

3000 Sisk Rd, Modesto, CA 95350

Listing Price: $9,274,400

Cap Rate
5.25%
Tenant Name
Red Lobster Intermediate Holdings LLC
Years Remaining On Lease
18.2
Guarantor
Corporate Guarantee
Rentable SF
8,248
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$59.03

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 3000 Sisk Road in Modesto, California. The site consists of roughly 8,248 rentable square feet of building space on an estimated 1.65-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 $477,359 and is scheduled to increase to $486,906 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

  • David C. Nelson

    Regional Manager

    (510) 379-1200

    License(s) CA: 01716942

    California

Restaurant

Red Lobster

Listing Price: $9,274,400

Cap Rate
5.25%
Tenant Name
Red Lobster Intermediate Holdings LLC
Years Remaining On Lease
18.2
Guarantor
Corporate Guarantee
Rentable SF
8,248
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$59.03

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 3000 Sisk Road in Modesto, California. The site consists of roughly 8,248 rentable square feet of building space on an estimated 1.65-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 $477,359 and is scheduled to increase to $486,906 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

  • David C. Nelson

    Regional Manager

    (510) 379-1200

    License(s): CA: 01716942

    California

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