Restaurant
Red Lobster
3000 Sisk Rd, Modesto, CA 95350
Listing Price: $9,274,400
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.
Listing Price: $9,274,400
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.
