Restaurant
Red Lobster
120 S Creasy Ln, Lafayette, IN 47905
Listing Price: $5,644,246
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.
Listing Price: $5,644,246
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.
