Restaurant
Red Lobster
3801 Cleveland Ave, Fort Myers, FL 33901
Listing Price: $7,304,419
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 3801 Cleveland Avenue in Fort Myers, Florida. The site consists of roughly 9,587 rentable square feet of building space on an estimated 1.86-acre parcel of land. This Red Lobster is subject to a long-term absolute triple-net (NNN) lease, which commenced July 28th, 2014. The current annual rent is $383,482 and is scheduled to increase by 2.00% annually throughout the remainder of the base term and in each of the four (4), five (5)-year tenant renewal options.
Listing Price: $7,304,419
Investment Highlights
- Long-Term, Absolute Triple Net (NNN) Lease, Zero Landlord Obligations
- 17.5 Years Of Lease Term Remaining With 2.00% Annual Bumps
- Four (4), Five (5)-Year Tenant Renewal Options
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 3801 Cleveland Avenue in Fort Myers, Florida. The site consists of roughly 9,587 rentable square feet of building space on an estimated 1.86-acre parcel of land. This Red Lobster is subject to a long-term absolute triple-net (NNN) lease, which commenced July 28th, 2014. The current annual rent is $383,482 and is scheduled to increase by 2.00% annually throughout the remainder of the base term and in each of the four (4), five (5)-year tenant renewal options.
