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Restaurant

Red Lobster

4990 Monroe St, Toledo, OH 43623

Listing Price: $5,096,396

Cap Rate
6.00%
Tenant Name
Red Lobster
Years Remaining On Lease
22.0
Guarantor
Corporate Guarantee
Rentable SF
7,554
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$40.48

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 4990 Monroe Street in Toledo, Ohio. The site consists of roughly 7,554 rentable square feet of building space on estimated 1.69-acre parcel of land. This Red Lobster is subject to an absolute triple-net (NNN) lease, which commenced July 28th, 2014. The rent is $305,784 starting August 2022 and is scheduled to increase by 2.00% 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

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Financing By

Restaurant

Red Lobster

Listing Price: $5,096,396

Cap Rate
6.00%
Tenant Name
Red Lobster
Years Remaining On Lease
22.0
Guarantor
Corporate Guarantee
Rentable SF
7,554
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$40.48

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 4990 Monroe Street in Toledo, Ohio. The site consists of roughly 7,554 rentable square feet of building space on estimated 1.69-acre parcel of land. This Red Lobster is subject to an absolute triple-net (NNN) lease, which commenced July 28th, 2014. The rent is $305,784 starting August 2022 and is scheduled to increase by 2.00% 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

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

Financing By

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