Restaurant
Red Lobster
3109 Spotsylvania Mall Dr, Fredericksburg, VA 22407
Listing Price: $6,621,962
Investment Overview
Marcus & Millichap has been retained to exclusively market a Red Lobster NNN opportunity in Fredericksburg, Va. The property has a brand new 22 Year NNN lease (no landlord responsibilities) and sits just off of exit 3 of Interstate 95 which has an average daily traffic count of 150k vehicles/day. Ideally positioned in a dense retail corridor which has 100+ specialty stores and restaurants, including many national chains like Costco, Macys, JC Penney, HomeGoods, Michaels, Dollar Tree etc. The property is situated as an outparcel to the Spotsylvania Towne Center, directly in front of Costco which boasts > 1.5m shopper visits/year. In addition to the new 22 year lease which provides for annual 2.0% increases, there are an additional four option periods (of five years apiece).
Red Lobster
Investment Highlights
- New 22 year Absolute NNN Lease
- Corporate Lease guarantee - 600+ locations backing the lease
- Outparcel to Spotsylvania Towne Centre and just off Plank road which features 83,000 ADT
- Spotsylvania Towne Centre is part of a dense retail corridor which serves as a dining and retail mecca which hosts over 7.04 million shopper visits/year (placer.ai)
- Located directly in front of Costco on a huge 1.68 Acre parcel
Exclusively Listed By
Broker of Record
-
Brian Hosey
First Vice President/ Division Manager
Financing By
Listing Price: $6,621,962
Investment Highlights
- New 22 year Absolute NNN Lease
- Corporate Lease guarantee - 600+ locations backing the lease
- Outparcel to Spotsylvania Towne Centre and just off Plank road which features 83,000 ADT
- Spotsylvania Towne Centre is part of a dense retail corridor which serves as a dining and retail mecca which hosts over 7.04 million shopper visits/year (placer.ai)
- Located directly in front of Costco on a huge 1.68 Acre parcel
Investment Overview
Marcus & Millichap has been retained to exclusively market a Red Lobster NNN opportunity in Fredericksburg, Va. The property has a brand new 22 Year NNN lease (no landlord responsibilities) and sits just off of exit 3 of Interstate 95 which has an average daily traffic count of 150k vehicles/day. Ideally positioned in a dense retail corridor which has 100+ specialty stores and restaurants, including many national chains like Costco, Macys, JC Penney, HomeGoods, Michaels, Dollar Tree etc. The property is situated as an outparcel to the Spotsylvania Towne Center, directly in front of Costco which boasts > 1.5m shopper visits/year. In addition to the new 22 year lease which provides for annual 2.0% increases, there are an additional four option periods (of five years apiece).
Exclusively Listed By
Broker of Record
-
Brian Hosey
First Vice President/ Division Manager
Financing By
