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Red Lobster

9415 Pineville-Matthews Rd, Pineville, NC 28134

Listing Price: $4,733,672

Cap Rate
6.10%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
19.5
Guarantor
Corporate Guarantee
Rentable SF
7,840
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.83

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 9415 Pineville-Matthews Road in Pineville, North Carolina. The site consists of roughly 7,840 rentable square feet of building space on an estimated 1.85-acre parcel of land. This Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced July 28th, 2014. The current annual rent is $288,754 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.

Investment Highlights

  • Long-Term, Absolute Triple Net (NNN) Lease, Zero Landlord Obligations
  • +/- 20 Years Of Lease Term Remaining With 2.00% Annual Bumps
  • Four (4), Five (5)-Year Tenant Renewal Options

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Listing Price: $4,733,672

Cap Rate
6.10%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
19.5
Guarantor
Corporate Guarantee
Rentable SF
7,840
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.83

Investment Highlights

  • Long-Term, Absolute Triple Net (NNN) Lease, Zero Landlord Obligations
  • +/- 20 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 9415 Pineville-Matthews Road in Pineville, North Carolina. The site consists of roughly 7,840 rentable square feet of building space on an estimated 1.85-acre parcel of land. This Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced July 28th, 2014. The current annual rent is $288,754 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.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

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