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Restaurant

Red Lobster

2040 Edinboro Rd, Erie, PA 16509

Listing Price: $5,147,396

Cap Rate
6.00%
Tenant Name
Red Lobster
Years Remaining On Lease
22.0
Guarantor
Corporate Guarantee
Rentable SF
8,509
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.30

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 2040 Edinboro Road in Erie, Pennsylvania. The site consists of roughly 8,509 rentable square feet of building space on estimated 1.79-acre parcel of land. This Red Lobster is subject to an absolute triple-net (NNN) lease, which commenced July 28th, 2014. The rent is $308,844 starting August 2022 and is scheduled to increase by 2%annually throughout the base term and in each of the four (4), five (5)-year renewal options.

Investment Highlights

  • Long-Term, Absolute Triple Net (NNN) Lease
  • Approximately 22 Years Remaining
  • Two Percent (2%) Rental Increases Annually

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s) PA: RM424190

    Pennsylvania

Restaurant

Red Lobster

Listing Price: $5,147,396

Cap Rate
6.00%
Tenant Name
Red Lobster
Years Remaining On Lease
22.0
Guarantor
Corporate Guarantee
Rentable SF
8,509
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.30

Investment Highlights

  • Long-Term, Absolute Triple Net (NNN) Lease
  • Approximately 22 Years Remaining
  • Two Percent (2%) Rental Increases Annually

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 2040 Edinboro Road in Erie, Pennsylvania. The site consists of roughly 8,509 rentable square feet of building space on estimated 1.79-acre parcel of land. This Red Lobster is subject to an absolute triple-net (NNN) lease, which commenced July 28th, 2014. The rent is $308,844 starting August 2022 and is scheduled to increase by 2%annually throughout the base term and in each of the four (4), five (5)-year renewal options.

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s): PA: RM424190

    Pennsylvania

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