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Restaurant

Red Lobster

120 S Creasy Ln, Lafayette, IN 47905

Listing Price: $5,644,246

Cap Rate
6.10%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
19.8
Guarantor
Corporate Guarantee
Rentable SF
5,280
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$65.21

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Red Lobster located at 120 Creasy Lane S in Lafayette, Indiana. The site consists of roughly 5,280 rentable square feet of building space on an estimated 1.40-acre parcel of land. This Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced December 17th, 2015. The current annual rent is $344,299 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

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Restaurant

Red Lobster

Listing Price: $5,644,246

Cap Rate
6.10%
Tenant Name
Red Lobster Hospitality, LLC
Years Remaining On Lease
19.8
Guarantor
Corporate Guarantee
Rentable SF
5,280
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$65.21

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 120 Creasy Lane S in Lafayette, Indiana. The site consists of roughly 5,280 rentable square feet of building space on an estimated 1.40-acre parcel of land. This Red Lobster is subject to a 25-year absolute triple-net (NNN) lease, which commenced December 17th, 2015. The current annual rent is $344,299 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

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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