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Restaurant

Red Lobster

2675 32nd Ave S, Grand Forks, ND 58201

Listing Price: $4,904,342

Cap Rate
6.00%
Tenant Name
Red Lobster
Years Remaining On Lease
22.0
Guarantor
Corporate Guarantee
Rentable SF
6,096
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$48.27

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 2675 32nd Avenue South in Grand Forks, North Dakota. The site consists of roughly 6,096 rentable square feet of building space on estimated 1.80-acre parcel of land. This Red Lobster is subject to an absolute triple-net (NNN) lease, which commenced July 28th, 2014. The rent is $294,260 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

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) ND: 10032

    North Dakota

Financing By

Listing Price: $4,904,342

Cap Rate
6.00%
Tenant Name
Red Lobster
Years Remaining On Lease
22.0
Guarantor
Corporate Guarantee
Rentable SF
6,096
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$48.27

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 2675 32nd Avenue South in Grand Forks, North Dakota. The site consists of roughly 6,096 rentable square feet of building space on estimated 1.80-acre parcel of land. This Red Lobster is subject to an absolute triple-net (NNN) lease, which commenced July 28th, 2014. The rent is $294,260 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.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): ND: 10032

    North Dakota

Financing By

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